Purpose – The purpose of this paper is to examine the Dickens et al. model of bank holding company dividend policy. They identified five explanatory factors in a sample of bank holding companies (BHCs). Banking companies typically pay larger dividends and more often than industrial firms....

Purpose – The purpose of this paper is to explore the relationship between good corporate governance and dividend payment in the regulated insurance industry. Design/methodology/approach – A modification of Rozeff's transaction cost/agency cost trade-off model was estimated on a sample of 55...

Purpose –This study sets out to focus on the identification of determinants of real estate limited partnership (REIT) capital structure from a market perspective. Design/methodology/approach -This study uses ordinary least squares regression to test whether REIT capital structure is impacted...

This study addresses the relationship between cash-out and cash-in mortgage refinancings and the stock market. Liquefying home equity is the major reason for the cash-out refinancings, whereas the cash-in refinancings are primarily for an earlier mortgage payoff. This study analyses responses of...

This study focuses on determining whether short-term market inefficiencies exist that can be periodically exploited by investors. Berkshire Hathaway’s dual class stock with differential voting rights and one- way conversion option provides a unique opportunity to investigate this issue...

The purpose of this paper is to investigate whether initial technical debt covenant violations are associated with significant increases in the equity risk of violating firms. Our results indicate that first-time violations are associated with significant increases in both systematic and...

Qualifications to an audit report may provide the basis for an auditor's claim that the user was warned about an unusual risk. If audit qualifications highlight changes in firm risk that are material, then the announcement of a qualification should be associated with an increase in the risk of...