To understand the performance implications of corporate strategies as conditioned by business group affiliations, we analyze the relationship between corporate diversification and performance for 889 Indian firms. We find that diversified firms perform significantly worse than focused firms and...

Given the dominant role the U.S. economy plays in global trade, we explore how U.S. macroeconomic surprises affect stock markets in ten major developed economies as well as in China and India. We do not find strong enough evidence to conclude that US macro shocks materially and consistently...

The current U.S. tax code's loss carry provisions provide implicit tax subsidies to financially troubled firms. Since shareholders ultimately decide when to announce bankruptcy, such tax subsidies can incentivize them to strategically postpone default. Therefore, corporate taxation can influence...

Macroeconomic conditions are known to affect risks factors and thereby influence asset returns within a given economy. We explore this link in a global setting. Given the dominant role the U.S. economy plays in the global economic environment, U.S. Macro economic shocks are expected to affect...

Macroeconomic conditions are known to affect risks factors and thereby influence asset returns within a given economy. We explore this link in a global setting. Given the dominant role the U.S. economy plays in the global economic environment, U.S. Macro economic shocks are expected to affect...

We test a set of theoretic postulates predicting the choice and value impact of foreign asset divestiture strategies. Following Chen and Gou (2005), we argue that firms may be driven by a variety of motives to divest their foreign assets depending on their pre-divestiture performance, financial...

The fintech segment is currently one of the most rapidly growing industries, attracting numerous investors who anticipate substantial returns in the future. Notably, not only individual retail investors but also mutual fund agencies are actively engaged in predicting stock prices within this...

In the coming years, unconventional monetary policy by central banks, regulatory demand for collateral, custodian efforts to build a collateral highway, collateral re-use rate, etc. will all impact the global demand/supply for collateral. The changing collateral space will look very different...