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Brennan, Michael J.; Kraft, Holger - 2013

In this paper we provide new evidence that corporate financing decisions are associated with managerial incentives to report high equity earnings. Managers rely most heavily on debt to finance their asset growth when their future earnings prospects are poor, when they are under pressure due to...

Persistent link: https://www.econbiz.de/10010226719

Predictability of Returns and Cash Flows

Koijen, Ralph S. J. - 2011

We review the literature on return and cash flow growth predictability form the perspective of the present-value identity. We focus predominantly on recent work. Our emphasis is on U.S. aggregate stock return predictability, but we also discuss evidence from other asset classes and countries

Persistent link: https://www.econbiz.de/10013132300

Discounts for Illiquid Shares and Warrants : The Liquistat Database of Transactions on the Restricted Securities Trading Network

Robak, Espen - 2009

private investors and the issuer's contemporaneous stock price in the market with factors such as the information asymmetry …

Persistent link: https://www.econbiz.de/10013159433

The Real Effects of Modern Information Technologies

Goldstein, Itay; Yang, Shijie; Zuo, Luo - 2021

Using the staggered implementation of the EDGAR system from 1993 to 1996 as a shock to information dissemination … technologies, we examine the potential benefits and costs of modern information technologies on the real economy. On the one hand …, we document that broader information dissemination leads to an increase in the level of equity financing and corporate …

Persistent link: https://www.econbiz.de/10013236549

Artificial Intelligence in Financial Decision Making

Huang, Allen; You, Haifeng - 2022

Artificial intelligence (AI), powered by machine learning algorithms, is capable of extracting information efficiently … several important applications of AI in this context. First, we review AI algorithms that extract information from … information from unstructured and structured data so as to facilitate financial decisions such as investment and FinTech lending …

Persistent link: https://www.econbiz.de/10014236782