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competitive advantage by learning from others -- through knowledge spillovers. This research hypothesizes that firms headquartered … near a knowledge center, as defined by Carnegie Classifications' 196 leading research universities in the United States …, innovate more and experience higher stock volatility. We argue that knowledge spillovers foster firms' innovative ability in an …
Persistent link: https://www.econbiz.de/10012975383
Using the details of vesting terms, we document that stock options granted in high sentiment periods tend to have shorter vesting period/duration, and are more likely to vest completely or have a significantly larger fraction vested within one year of the grant date relative to low sentiment...
Persistent link: https://www.econbiz.de/10012856228
Corporate spinoffs are important events that are accompanied by valuation and credit-risk implications for the parent firm. Among other benefits, spinoffs can improve corporate focus and enhance valuation transparency. In the debt-contracting context, however, spinoffs can also lead to potential...
Persistent link: https://www.econbiz.de/10013492459
Corporate spinoffs are important events that are accompanied by valuation and credit-risk implications for the parent firm. Among other benefits, spinoffs can improve corporate focus and enhance valuation transparency. In the debt-contracting context, however, spinoffs can also be associated...
Persistent link: https://www.econbiz.de/10014348753
beliefs, knowledge and trading strategies. This paper studies the interactions between heterogeneous traders and their impacts … satisfied, the market can aggregate the information to form “good knowledge” about the price. If investors have high risk …
Persistent link: https://www.econbiz.de/10012591578
Persistent link: https://www.econbiz.de/10003368860
This paper studies whether knowledge protection affects shareholder value and firms' investment in knowledge assets … changes in the level of knowledge protection. We find positive (negative) abnormal stock returns around the IDD adoption … knowledge assets. Moreover, the effects on stock returns and knowledge assets investment are stronger in more knowledge …
Persistent link: https://www.econbiz.de/10012970102
Persistent link: https://www.econbiz.de/10011930416
This paper studies whether knowledge protection affects shareholder value and firms' investment in knowledge assets … changes in the level of knowledge protection. We find positive (negative) abnormal stock returns around the IDD adoption … knowledge assets. Moreover, the effects on stock returns and knowledge assets investment are stronger in more knowledge …
Persistent link: https://www.econbiz.de/10011708230
Putting an end to the “earnings game” requires that CEOs reclaim the initiative by avoiding earnings guidance and managing expectations in such a way that their stocks trade reasonably close to their intrinsic value. In place of earnings forecasts, management should provide information about...
Persistent link: https://www.econbiz.de/10003985400