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Investment and capital structure decisions under time-inconsistent preferences
Kijima, Masaaki; Tian, Yuan - Institute of Economic Research, Kyoto University - 2013
framework of entrepreneurial firms’ investment and capital structure decisions with time-inconsistent preferences. We show that …). Time-inconsistent preferences delay investment under both all-equity financing and debt-equity financing. However, the … impact is weakened under debt-equity financing, because debt financing increases the payoff value upon investment and …
Persistent link: https://www.econbiz.de/10010860085
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Determination of Factors Affecting Individual Investor Behaviours: A Study on Bankers
Islamoðlu, Mehmet; Apan, Mehmet; Ayvali, Adem - In: International Journal of Economics and Financial Issues 5 (2015) 2, pp. 531-543
affecting individual investors’ investment behaviours. …
Persistent link: https://www.econbiz.de/10011268789
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Overreaction of country ETFs to US market returns: Intraday vs. daily horizons and the role of synchronized trading
Levy, Ariel; Lieberman, Offer - In: Journal of Banking & Finance 37 (2013) 5, pp. 1412-1421
In this paper we study the intraday price formation process of country Exchange Traded Funds (ETFs). We identify specific parts of the US trading day during which Net Asset Values (NAVs), currency rates, premiums and discounts, and the S&P 500 index have special effects on ETF prices, and...
Persistent link: https://www.econbiz.de/10010741762
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Financial Constraint and R&D Investment: Evidence from CIS
Mohnen, Pierre; Tiwari, Amaresh; Palm, Franz; Schim van … - United Nations University-Maastricht Economic Research … - 2007
organizational rigidities also affect R&D investment. A semiparametric estimator of sample selection is employed to control for …
Persistent link: https://www.econbiz.de/10010856400
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The risk-adjusted performance of US buyouts
Groh, Alexander; Gottschalg, Oliver - HEC Paris (École des Hautes Études Commerciales) - 2006
This paper assesses the risk-adjusted performance of US buyouts.
Persistent link: https://www.econbiz.de/10005011616
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Financial Constraint and R&D Investment: Evidence from CIS
Mohnen, Pierre; Tiwari, Amaresh; Palm, Franz; Schim van … - United Nations University, Maastricht Economic and … - 2007
organizational rigidities also affect R&D investment. A semiparametric estimator of sample selection is employed to control for …
Persistent link: https://www.econbiz.de/10005795832
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The Private Equity Premium Puzzle Revisited: New Evidence on the Role of Heterogeneous Risk Attitudes
Fossen, Frank M. - DIW Berlin (Deutsches Institut für Wirtschaftsforschung) - 2008
The empirical finding that entrepreneurs tend to invest a large share of their wealth in their own firms despite comparably low returns and high risk has become known as the private equity premium puzzle. This paper provides evidence supporting the hypothesis that lower risk aversion of...
Persistent link: https://www.econbiz.de/10005068887
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Measuring the social responsibility discount for the cost of equity capital: evidence from benefit corporations
Everett, Craig R. - Volkswirtschaftliche Fakultät, … - 2013
In 2010, Maryland became the first state to allow firms to incorporate as “benefit corporations,” which are for-profit entities with a social purpose. Since then, nineteen other states have followed. Using survey data from the population of 94 benefit corporations existent at the time of the...
Persistent link: https://www.econbiz.de/10011112351
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Ladies and Gentlemen: Gender Identity and Financial Risk-Taking
Zetterdahl, Emma; Hellström, Jörgen - Institutionen för Nationalekonomi, Umeå Universitet - 2015
Novel empirical evidence indicates the importance of gender identity and gender norms on individuals’ financial risk-taking. Specifically, by use of matching and by dividing male and females into those with “traditional” versus “nontraditional” gender identities, comparison of average...
Persistent link: https://www.econbiz.de/10011249394
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Locus of Control and Savings
Cobb-Clark, Deborah A.; Kassenboehmer, Sonja C.; … - Institute for the Study of Labor (IZA) - 2013
This paper analyzes the relationship between individuals' locus of control and their savings behavior, i.e. wealth accumulation, savings rates, and portfolio choices. Locus of control is a psychological concept that captures individuals' beliefs about the controllability of life events and is a...
Persistent link: https://www.econbiz.de/10011156463