This paper examines the bonding effect of cross-listing before and after the stock market liberalization reforms in China. Consistent with the bonding hypothesis, we find that Chinese firms with foreign listings attain higher valuations than firms without foreign listings. We also find that they...

In the stock market crash of 2000 many internet firms that were ostensibly bankrupt were able to stave off bankruptcy by seeking protection under Chapter 11 or avoid it completely through refinancing or merging with another company. The implication is that these firms had a de facto option to...

Entre las dificultades de indole practico que encuentran los modelos de valoracion se encuentran las de la elevada cantidad de informacion que necesitan para su aplicacion, y la problematica de integrar en el proceso informacion de tipo cualitativo. La valoracion multicriterio permite soslayar...

The CAPM implies that investors require equity risk premia when choosing risky investments and therefore demand higher returns to equity invested if higher risk is present. This should apply to investments in independent enterprises and multi-national enterprises alike. This hypothesis is...