Showing 1 - 10 of 34
This paper analyzes the relationship between the dividend and debt policies, firm risk and the director’s ownership …. Secondly, the firm risk presents a negative effect on the debt ratio and on the payment of dividends and a positive …
Persistent link: https://www.econbiz.de/10005212513
This paper examines whether Working Capital Management (WCM) is sensitive to market imperfections such as asymmetric information, agency conflicts or financial distress. We find that firms have a target investment in working capital and that they take decisions in order to achieve this. In...
Persistent link: https://www.econbiz.de/10008599650
Though the going public decision has been addressed by several theories, empirical research is particularly scarce to European countries. This is the first research in the Spanish market that investigates ex ante and ex post characteristics of IPO firms, using a large database of private held...
Persistent link: https://www.econbiz.de/10004992780
not go public to reduce debt since leverage is negatively related to the probability of going public. Finally, the …
Persistent link: https://www.econbiz.de/10005731332
This paper analyzes the relationship between ownership concentration andshares liquidity for a sample of 115 listed … directors,major shareholders and outside shareholders on liquidity. We do not find evidence ofthe influence of liquidity on the …. Therefore,firms with higher ownership concentration present larger informative asymmetry,having less liquidity. Este trabajo …
Persistent link: https://www.econbiz.de/10005731121
anomalous returns. Also, it is investigated the determinant factors of the split size, its effects on the liquidity and the … improvement in the assets liquidity. They suggest that market microstructure phenomena bias upward the average abnormal returns …
Persistent link: https://www.econbiz.de/10005731172
This paper analyzes the effect of the power of the chairman and CEO on firm risk. As proxies of power several variables have been employed: the fact that a person accumulates both the CEO and the Chairman titles, the fact of CEO or Chairman being founders, their tenure, their shareholding and...
Persistent link: https://www.econbiz.de/10005212539
Many studies have examined the impact of various characteristics of the board of directors on firm value. However, little attention has been paid to the impact of female board membership on firm value, with the exception of a number of U.S. studies. The aim of this paper is to investigate this...
Persistent link: https://www.econbiz.de/10005731179
This paper studies the shape of the relation between firm value and trade credit for a sample of Spanish listed firms in the period 2001 to 2007. Considering the tradeoff between benefits and costs of investing in trade credit we estimate a non-linear relationship between accounts receivable and...
Persistent link: https://www.econbiz.de/10010615140
In our study we focus on the determinants of reputation and, in particular, on the relation between the quality of annual report disclosures of companies and their reputation. We try to bring together two strands of literature: the literature on corporate reputation and the literature on...
Persistent link: https://www.econbiz.de/10005515800