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Corporate innovation is an increasingly important topic that has attracted great attention from academic researchers in … Financial Economics, and the Review of Financial Studies) together published a total of only five papers on corporate innovation … the drivers and financing sources of corporate innovation …
Persistent link: https://www.econbiz.de/10012900738
Each company operates within the framework of interrelated structures: ownership, corporate governance and capital … notable difference is related to CEO-duality, which plays a significant role in corporate governance only in innovative firms …
Persistent link: https://www.econbiz.de/10012891296
developing economies with less well-developed financial markets. As innovation is a central driver of growth, it is therefore … important for policymakers to understand how different sources of financing may affect innovation. Extant literature emphasizes … the effect on innovation inclusive of other sources of external finance that may be particularly important in the …
Persistent link: https://www.econbiz.de/10013006665
idea that export intensity and innovation intensity are driving channels of exporting and innovative firms investment … export and innovation performances vanish firms investment sensitivity to financing constraints. Moreover, exporting firms … export intensity is significantly and positively sensitive to days receivable outstanding while innovative firms innovation …
Persistent link: https://www.econbiz.de/10012828691
We survey the theory and evidence of behavioral corporate finance, which generally takes one of two approaches. The market timing and catering approach views managerial financing and investment decisions as rational managerial responses to securities mispricing. The managerial biases approach...
Persistent link: https://www.econbiz.de/10014025559
Many executives have compensation that is potentially forfeit conditioned on the circumstances surrounding their departure from the firm. We study firms' endogenous decisions to use such compensation "holdbacks" as a bonding device and find that firms with higher executive replacement costs,...
Persistent link: https://www.econbiz.de/10012958840
control rights. Such externalities are reflected in the loan contract design. Borrowing firms sign less restrictive loan …
Persistent link: https://www.econbiz.de/10012904762
This paper examines the effect of creditor rights on bank loan contract design. Focusing on the conflict of interest …
Persistent link: https://www.econbiz.de/10012861626
of bond interest rates. Just as shareholders, bondholders can play an important role in corporate governance. They can … experiences of governance engagement by bondholders. The report builds on issue level data for more than 100,000 individual bond … introduction of electronic trading systems. In order to analyse trends over time with respect to governance, we provide detailed …
Persistent link: https://www.econbiz.de/10013024182
of bond interest rates. Just as shareholders, bondholders can play an important role in corporate governance. They can … experiences of governance engagement by bondholders. The report builds on issue level data for more than 100,000 individual bond … introduction of electronic trading systems. In order to analyse trends over time with respect to governance, we provide detailed …
Persistent link: https://www.econbiz.de/10012447288