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Determinants of Capital Structure in Non-Financial Companies

Kühnhausen, Fabian; Stieber, Harald W. - Volkswirtschaftliche Fakultät, … - 2014

In this paper, we evaluate firm-, industry- and country-specific factors determining a firm's capital structure. The empirical validity of several capital structure theories has been ambiguous so far. We shed light on the main drivers of leverage and depict differences in industry and country...

Persistent link: https://www.econbiz.de/10011019340

Does the weather affect stock market volatility?

Daskalakis, George; Symeonidis, Lazaros; Markellos, Raphael - Volkswirtschaftliche Fakultät, … - 2009

This paper investigates the empirical association between stock market volatility and investor mood-proxies related to the weather (cloudiness, temperature and precipitation) and the environment (nighttime length). Overall, our results suggest that cloudiness and length of nighttime are...

Persistent link: https://www.econbiz.de/10009325599

Optimal design and consequences of financial disclosure regulation: a real options approach

Waters, James - Volkswirtschaftliche Fakultät, … - 2015

This paper examines the optimal design and consequences of financial disclosure regulation. Our model represents the regulation as creating a real option for an investor to delay investment until information is disclosed. We find conditions on investment opportunities that ensure that regulation...

Persistent link: https://www.econbiz.de/10011234838

¿Puede el gobierno corporativo aprender del gobierno público?

Jakob, Brugger; Immanuel, Samuel - Volkswirtschaftliche Fakultät, … - 2007

In view of recent corporate scandals, it is argued that corporate governance can learn from public governance. Institutions devised to control and discipline the behaviour of executives in the political sphere can give new insights into how to improve the governance of firms. Some proposal such...

Persistent link: https://www.econbiz.de/10005835562

Bootstrapping Fuzzy-GARCH Regressions on the Day of the Week Effect in Stock Returns: Applications in MATLAB

Giovanis, Eleftherios - Volkswirtschaftliche Fakultät, … - 2009

This paper examines the well know day of the week effect on stock returns. Various approaches have been developed and applied in order to examine calendar effects in stock returns and to formulate appropriate financial and risk portfolios. We propose an alternative approach in the estimation of...

Persistent link: https://www.econbiz.de/10008536061

COMMENTS on: “Choice between debt and equity contracts and asymmetrical information: Some empirical evidence"

Islahi, Abdul Azim - Volkswirtschaftliche Fakultät, … - 2000

This is a comment as discussant of a paper entitled “Choice between debt and equity contracts and asymmetrical information: Some empirical evidence" by Qazem Sadr and Zameer Iqbal, included in Iqbal, M. and Llewellyn, David T. (edit), Islamic Banking and Finance: New Perspectives on Profit...

Persistent link: https://www.econbiz.de/10008494198

Study On Dividend Policy: Antecedent and Its Impact On Share Price

Murhadi, Werner-Ria - Volkswirtschaftliche Fakultät, … - 2008

dividend policy has information content that can influence to share price. Examination of theory of signaling is related to … to the research result showing the existence or inexistence of the influence of dividend policy to share price. Besides …: (1) Free Cash Flow to share price, (2) Structure of Ownership to share price, and (3) Structure of ownership to dividend …

Persistent link: https://www.econbiz.de/10008685512

An Analysis of Withdrawn Shareholder Proposals

Foley, Maggie; Cebula, Richard; Jun, Chulhee - Volkswirtschaftliche Fakultät, … - 2013

This study visits the role of shareholder proposals in the governance of public corporations by studying withdrawn shareholder proposals. Among all shareholders, unions are the most likely to withdraw proposals. Furthermore, firms with a record of poor performance, lower insider ownership and...

Persistent link: https://www.econbiz.de/10011107357

Rescue costs and financial risk

Estrada, Fernando - Volkswirtschaftliche Fakultät, … - 2014

Following Taleb/Tapiero (2009) , the hypotheses are contrasted based on partial information of firms had losses (including external risk factors); the policy implications of this analysis are projected after evaluating two fundamental issues that continue to preoccupy the public opinion: how...

Persistent link: https://www.econbiz.de/10011108272

The causal effect of venture capital backing on the underpricing of Italian IPOs

Pennacchio, Luca - Volkswirtschaftliche Fakultät, … - 2013

This paper analyses the role of venture capitalists in Italian Initial Public Offerings (IPOs). Between 1999 and 2012 venture capital backed IPOs are on average less underpriced than non-venture backed IPOs. By using both a matching and a regression-based approach to account for the non-random...

Persistent link: https://www.econbiz.de/10011108560

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