This paper studies how the capital market perceives brand name adoption. I distinguish between brand adoption and radical type of corporate name change. A brand adoption name change occurs when the firm adopts one of its well-established brands as its new corporate name and a radical type occurs...

This paper addresses the macroeconomic impact of international financial integration. I first provide empirical evidence that foreign banking penetration can be associated with a contraction of banking credit, especially in countries with poor credit markets. Second I present a model in which...

Using a large panel of about 6,946 French manufacturing firms, this paper investigates the effect of monetary policy from 1990 to 1999 on investment through the cost of capital and the cash-flow channels. We compare several specifications of the neo-classical demand for capital, taking into...

The inverse association of capitalization and performance is found to hold over a broader range of firms than has been previously studied. This result is found by merging data for listed United States firms with data for listed Australian companies, which are on average much smaller than their...

The purpose of this study was to examine previous literature on Entrepreneurs’ and small businesses’ (hereinafter simply, Entrepreneurs) required rates of return coupled with empirical observation of small business returns. It is hoped that this study provides Entrepreneurs with a guideline...

About 70 percent of businesses are organized as sole proprietorships, and many business owners are not well-diversified, yet the finance discipline is largely silent regarding how to estimate the opportunity cost of capital for undiversified investors. In this paper, the Capital Market Line...

By introducing a structure of the balance sheets of the banks, which takes into account their bilateral exposures in terms of stocks or lendings, we get a structural model for default analysis. This model allows distinguishing the exogenous and endogenous default dependence. We prove the...