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puzzling negative idiosyncratic volatility-return relation disappears. Consistent with the assumption that MAX is the true … effect, for which idiosyncratic volatility is just a proxy, we find that MAX can be traced back to firm fundamentals in the … manner of idiosyncratic volatility. The negative MAX-return relation is stronger among firms with high cash flow volatility …
Persistent link: https://www.econbiz.de/10011065620
specifically, it aims to conduct an examination of the relationship between momentum returns and idiosyncratic volatility (IVol) to …
Persistent link: https://www.econbiz.de/10010814970
ILO pub-WEP pub. Working paper on the rural population and rural area poverty in the Acholi area of Southern Sudan - based on sample surveys of rural households, explores the economic conditions and demographic aspects of the population, 90% of which is involved in subsistence farming; examines...
Persistent link: https://www.econbiz.de/10010966555
Financial statements are aimed at providing information that can be used by investors and creditors to forecast, compare and evaluate potential money in cash flows for their needs by the amount, the time schedule and the characteristic risks. The purpose of financial statements is to provide the...
Persistent link: https://www.econbiz.de/10010969057
This study suggests the preponderance of the pecking order theory over the trade-off theory when there are greater problems of information asymmetry, which is more usual in small-sized firms. The results show that debt level has an inverse relationship with non-debt tax shield and direct...
Persistent link: https://www.econbiz.de/10010994590
The purpose of this paper is to find that dividend payout ratio is the function of Corporate Profitability, Cash Flow, Tax, Sales Growth and Debt to Equity ratio. For seeking out the dividend payout ratio relationship of with the Corporate Profitability, Cash Flow, Tax, Sales Growth and Debt to...
Persistent link: https://www.econbiz.de/10010850179
Enterprise performance evaluation, not only appears in book values, but also is included in the company management. The comprehensive evaluation of the enterprise operation state and the efficiency of management is an important measure for the enterprise management and for investors to get...
Persistent link: https://www.econbiz.de/10010854560
This article reviews current methods for evaluating the stability of the company, which can be used for strategic management of its development.
Persistent link: https://www.econbiz.de/10010855262
The article generalises methods of determination of expenses used for production of products. It improves methods of measuring the cash flow at the level of a company and its structural subdivisions, which take into account specific features of main fixed assets and circulating assets. This...
Persistent link: https://www.econbiz.de/10010855701
Evidence on the "funding gap" for investment innovation is surveyed. The focus is on financial market reasons for underinvestment that exist even when externality-induced underinvestment is absent. We conclude that while small and new innovative firms experience high costs of capital that are...
Persistent link: https://www.econbiz.de/10010856381