Showing 1 - 10 of 878
, multiple total stock return measures distinguishing dividend payouts from simple stock returns. Results suggest that both … explicit and implicit risks are positively related to dividend payouts and not to stock returns, while the overall effect on … exposure and, probably as a consequence, boards in carbon intensive companies use dividend policies to attract investment in …
Persistent link: https://www.econbiz.de/10012819783
This paper presents a simple model for dual-class stock shares, in which common shareholders receive both public and private cash flows (i.e. dividends and any private benefit of holding voting rights) and preferred shareholders only receive public cash flows (i.e. dividends). The dual-class...
Persistent link: https://www.econbiz.de/10011796524
In an increasingly globalized world, the design of international tax systems in terms of the taxation of foreign … taxed foreign source income upon repatriation. However, to stimulate dividend repatriations from Japanese-owned foreign … affiliates, the Japanese government introduced a foreign dividend exemption system in 2009 that exempted dividends remitted by …
Persistent link: https://www.econbiz.de/10012971608
Anti-suit injunctions (ASIs) have recently emerged as a phenomenon significantly affecting the dynamics of standard essential patent (SEP) litigation. The enhanced role played by these patents in the Internet of Things scenario and the willingness of national courts to set themselves up as...
Persistent link: https://www.econbiz.de/10013310983
We present 12 facts about the mortgage crisis. We argue that the facts refute the popular story that the crisis resulted from finance industry insiders deceiving uninformed mortgage borrowers and investors. Instead, we argue that borrowers and investors made decisions that were rational and...
Persistent link: https://www.econbiz.de/10010292274
An important theoretical literature motivates collateral as a mechanism that mitigates adverse selection, credit rationing, and other inefficiencies that arise when borrowers hold ex ante private information. There is no clear empirical evidence regarding the central implication of this...
Persistent link: https://www.econbiz.de/10010292292
This paper considers the role of Federal Home Loan Bank (FHLB) advances in stabilizing their commercial bank members' residential mortgage lending activities. Our theoretical model shows that using mortgage-related membership criteria or requiring mortgage-related collateral does not ensure that...
Persistent link: https://www.econbiz.de/10010292320
Collateral is a widely used, but not well understood, debt-contracting feature. Two broad strands of theoretical literature explain collateral as arising from the existence of either ex ante private information or ex post incentive problems between borrowers and lenders. However, the extant...
Persistent link: https://www.econbiz.de/10010292349
-led mercantilist and the domestic demand-led regime and apply this to six countries, Germany, France, Spain, Sweden, the UK and the USA …
Persistent link: https://www.econbiz.de/10012292734
This study examines the impact of creditor rights on cash holdings using a sample of firms from 48 countries. We argue that creditor rights affect the willingness of lenders to provide credit, which in turn affects the need for internal liquidity and cash holdings. Consistent with this, we find...
Persistent link: https://www.econbiz.de/10010500217