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A critique of the literature on the US financial debt crisis

Stein, Jerome L. - 2010

A healthy financial system encourages the efficient allocation of capital and risk. The collapse of the house price bubble led to the financial crisis that started in 2007. There is a large empirical literature concerning the relation between asset price bubbles and financial crises. I evaluate...

Persistent link: https://www.econbiz.de/10010266065

SPACs with focus on China

Shachmurove, Yochanan; Vulanovic, Milos - 2014

In this study, we examine characteristics of Specified Purpose Acquisition Companies (SPACs) used as a financing tool for companies from China in period 2004-2011. We offer the evidence that, similarly to evidence from studies on reverse mergers focusing on China, SPACs that focus on China are...

Persistent link: https://www.econbiz.de/10010332133

SPACs: Post-merger survival

Vulanovic, Milos - 2016

This paper studies how institutional characteristics of Specified Purpose Acquisition Companies (SPACs) are related to their post-merger survival. SPACs are unique financial firms that conduct the IPO with the solely purpose to use the proceeds to acquire another private company. Paper finds...

Persistent link: https://www.econbiz.de/10011567076

The time-varying impact of systematic risk factors on corporate bond spreads

Klein, Arne C.; Pliszka, Kamil - 2018

During the global financial crisis, stressed market conditions led to skyrocketing corporate bond spreads that could not be explained by conventional modeling approaches. This paper builds on this observation and sheds light on time-variations in the relationship between systematic risk factors...

Persistent link: https://www.econbiz.de/10011855710

Derived signals for S & P CNX nifty index futures

Kumar, B. Prasanna - In: Financial Innovation 3 (2017) 20, pp. 1-22

Background: The financial futures market in India is relatively new. The major advantage of derivatives as financial products is that their use minimizes the risks associated with securities. However, hedging effectiveness requires understanding key market signals such as trading margins, credit...

Persistent link: https://www.econbiz.de/10011808253

Corporate governance in Latin American firms: Contestability of control and firm value

Jara Bertín, Mauricio; López Iturriaga, Felix J.; San … - In: BRQ Business Research Quarterly 22 (2019) 4, pp. 257-274

Using a sample of 595 firms listed in the capital markets of Argentina, Brazil, Chile, Colombia, Mexico, and Peru for the period of 2000-2015, we confirm prior literature by showing that when power distribution among several large shareholders (contestability) increases, firms' financial...

Persistent link: https://www.econbiz.de/10013327683

Determinants of dividend payout decisions: A dynamic panel data analysis of Turkish stock market

Bostanci, Faruk; Kadioglu, Eyup; Sayilgan, Guven - In: International Journal of Financial Studies 6 (2018) 4, pp. 1-16

This study analyzes the firm-specific factors affecting the dividend payout decisions of the companies whose shares are …-Bover/Blunder-Bond two-step system generalized method of moments, a statistically significant positive effect on dividend payout was found in … the relationship between the dividend payout of the previous year, the company's return on equity and the market value …

Persistent link: https://www.econbiz.de/10011996144

The impact of social capital on firm value

Jucá, Michele Nascimento; Fishlow, Albert - In: Contemporary Economics 16 (2022) 2, pp. 182-194

Social capital and value creation are concepts that have been associated in financial literature for a long time and still remain controversial. Social capital refers to a firm's attributes, such as trust, civic attitudes, and relationship networks that enable greater economic development. It is...

Persistent link: https://www.econbiz.de/10014544400

Concomitant of inside-shareholding, group affiliation and firm value: Evidence from Pakistan

Tahir, Safdar Husain; Kaleem, Muhammad Shafiq; Kanwal, … - In: Business: Theory and Practice 22 (2021) 1, pp. 133-145

The present study inspects the comparative effects of inside shareholding on firm value for group-affiliated firms and non-group-affiliated firms in Pakistan. The research uses the excess-value as a performance measure by employing a chop-shop approach in treatment effects regression model...

Persistent link: https://www.econbiz.de/10012703666

Financing obstacles among euro area firms: Who suffers the most?

Ferrando, Annalisa; Griesshaber, Nicolas - 2011

In this study we investigate the determinants of financing obstacles using survey data on a sample of around 5000 firms from the euro area countries. This completely new survey – started at the end of 2009 - gives us the opportunity to test whether firm characteristics such as size, age,...

Persistent link: https://www.econbiz.de/10011605339

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