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Clearinghouse Overconfidence
Roe, Mark J. - 2016
Persistent link: https://www.econbiz.de/10013007654
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Corporate Purpose and Stakeholder Fairness Through the Lens of Behavioral Economics : Legal Implications
Bukspan, Eli - 2021
The animated discourse on corporate social responsibility towards stakeholders in the last two years, particularly as embodied through the terms ESG, corporate purpose and stakeholderism (which will be used in this article interchangeably) had reached a turning point even before the COVID-19...
Persistent link: https://www.econbiz.de/10013312094
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Complexity-Driven Origins of Core Intertemporal Choice Anomalies : Experimental Evidence and Implications for Behavioral Economics
Koch, Dr. Benjamin - 2023
This study presents compelling experimental evidence indicating that the core intertemporal choice anomalies, encompassing extreme short-run impatience, present bias, hyperbolicity, and transitivity violations, are primarily attributable to complexity rather than time or risk preferences....
Persistent link: https://www.econbiz.de/10014353104
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Anchoring bias in the TARP warrant negotiations
Wilson, Linus - In: Journal of Economics and Business 64 (2012) 1, pp. 63-76
This paper finds that banks that offered lower opening bids were rewarded with significantly lower warrant repurchase prices in transactions that raised $2.856 billion in 2009. These results were scaled by third-party consultants’ and the Congressional Oversight Panel's estimates of the...
Persistent link: https://www.econbiz.de/10010599712
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Chapter 5. Behavioral Corporate Finance: An Updated Survey
Baker, Malcolm; Wurgler, Jeffrey - 2013
We survey the theory and evidence of behavioral corporate finance, which generally takes one of two approaches. The market timing and catering approach views managerial financing and investment decisions as rational managerial responses to securities mispricing. The managerial biases approach...
Persistent link: https://www.econbiz.de/10014025559
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Accelerated Investment and Credit Risk under a Low Interest Rate Environment: A Real Options Approach
Yamada, Tetsuya - In: Monetary and Economic Studies 28 (2010) November, pp. 181-214
Empirical studies have found that a low interest rate environment accelerates firmsf investment and debt financing …, leading to subsequent balance-sheet problems in many countries in recent years. We examine the mechanism whereby firmsf debt … perspective of a real options model. We find that firms tend to increase debt financing and investment not only under strong …
Persistent link: https://www.econbiz.de/10010754443
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Accelerated Investment and Credit Risk under a Low Interest Rate Environment: A Real Options Approach
Yamada, Tetsuya - Institute for Monetary and Economic Studies, Bank of Japan - 2010
Empirical studies have found that a low interest rate environment accelerates firmsf investment and debt financing …, leading to subsequent balance sheet problems in many countries in recent years. We examine the mechanism whereby firmfs debt … perspective of a real options model. We find that firms tend to increase debt financing and investment not only under strong …
Persistent link: https://www.econbiz.de/10008471280
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Tax rates and corporate decision-making
Graham, John R.; Hanlon, Michelle Lee; Shevlin, Terry; … - In: The review of financial studies 30 (2017) 9, pp. 3128-3175
Persistent link: https://www.econbiz.de/10011755704
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A Business Ethics Perspective on Sarbanes Oxley and the Organizational Sentencing Guidelines
Hess, David - 2006
This paper assesses the ability of the Sarbanes-Oxley Act, the revised Organizational Sentencing Guidelines, and other changes affecting the governance of corporations, to reduce the incidence of fraud and to increase the reporting of financial misconduct. In Part I, I look specifically at the...
Persistent link: https://www.econbiz.de/10014055321
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Investing with the Government : A Field Experiment in China
Colonnelli, Emanuele; Li, Bo; Liu, Ernest - National Bureau of Economic Research - 2022
We study the demand for government participation in China's venture capital and private equity market. We conduct a large-scale, non-deceptive field experiment in collaboration with the leading industry service provider, through which we survey both sides of the market: the capital investors and...
Persistent link: https://www.econbiz.de/10013334380