This study examines the relative speed of adjustments of debt ratios and explanatory powers of three groups of determinants of capital structure: firm-specific, country-wide and industry-wide. The sample includes non-financial firms listed in the DJIA and NASDAQ for quarterly periods 1992-2010....

This study examines the financial and statistical properties of the variance and semi variance (SV). Since the mean-variance approach and its extended mean-semi variance approach assume normality of returns, it has been observed that practical and computational problems emerged in the cases of...

This paper examines three possible explanations for firm growth: 1) a firm grows according to the growth of sales revenue; 2) a firm grows according to cost savings; 3) a firm grows according to the two factors simultaneously. The paper introduces a new measure for firm growth based on...

Purpose – The literature on the relation between dividends and stock risks include mixed results. The related studies have reached either insignificant, or positive, or negative results. The authors offer a mathematical structure that addresses potential mutual benefits of dividends signaling...