Showing 1 - 10 of 72
This paper analyzes the cost of capital of firms with foreign equity listings. Our purpose is to shed light on the question whether international and domestic asset pricing models yield a different estimate of the cost of capital for cross-listed stocks. We distinguish between (i) the...
Persistent link: https://www.econbiz.de/10010730896
evidence of positive persistence in hedge fund returns, also after correcting for investment style. At the two-year horizon …
Persistent link: https://www.econbiz.de/10010731037
International financial markets are becoming integrated. Hence, global risk factor are increasingly important for portfolio selection and asset pricing. The recent empirical finance literature has confirmed that both the global market portfolio and exchange rate risk factors constitute important...
Persistent link: https://www.econbiz.de/10010731049
This paper examines the relation between cash-flow availability and investment spending in the Netherlands. In … cash-flow and investment spending. This relation is positive for both firms with low and high investment opportunities. It … is however significantly larger for firms with low investment opportunities suggesting that the managerial …
Persistent link: https://www.econbiz.de/10010731426
This paper focuses on the development of entrepreneurial orientation (EO) after a management buy-out (MBO) and on the role played by venture capital firms in enhancing EO. It presents results of two exploratory case studies of divisional buy-outs with regard to their EO and the areas where the...
Persistent link: https://www.econbiz.de/10011242173
Private equity has become an increasingly important part of our economy. Around the world the companies owned by private equity investors account for a substantial percentage of Gross Domestic Product (GDP) and private sector employment. These investors have recently been under fire in the media...
Persistent link: https://www.econbiz.de/10010730478
of an investment opportunity, CFOs of small firms still rely on the payback criterion. Regarding debt policy we document …
Persistent link: https://www.econbiz.de/10010730904
tend to ask higher returns on investment. For all members of the corporate elite it holds that overconfidence is …
Persistent link: https://www.econbiz.de/10010730971
In this paper we present and illustrate using real-life data a framework for managing an investment portfolio in which … the investment opportunities are described in terms of a set of attributes and part of this set is intended to capture the … effects on society. Here we link with the emerging literature on SRI: Socially Responsible Investment. Given the multifarious …
Persistent link: https://www.econbiz.de/10010731003
In this paper we evaluate applications of (return based) style analysis. The portfolio and positivity constraints imposed by style analysis are useful in constructing mimicking portfolios without short positions. Such mimicking portfolios can be used e.g. to construct efficient portfolios of...
Persistent link: https://www.econbiz.de/10010731090