Showing 1 - 10 of 5,475
distressed stocks, and of small growth stocks. Based on a counterintuitive result relating option prices to jump risk (Merton 76 …), we show via an investment valuation model that higher idiosyncratic risks of sudden corporate failure simultaneously … traits characterize small growth stocks, and a failure risk factor subsumes small growth returns while explaining several …
Persistent link: https://www.econbiz.de/10013007036
distressed stocks, and of small growth stocks. Based on a counterintuitive result relating option prices to jump risk (Merton … (1976)), we show via an investment valuation model that higher idiosyncratic risks of sudden corporate failure … failure risk traits characterize small growth stocks, and a failure risk factor subsumes small growth returns while explaining …
Persistent link: https://www.econbiz.de/10013007449
Firm growth is an essential feature of market economies, shaping together macroeconomic performance and the evolution … growth is also a central concern to both the practice and theory of business strategy. Despite both its theoretical and … practical importance, though, growth remains a poorly understood property of firms. While previous studies have documented the …
Persistent link: https://www.econbiz.de/10012007050
Merger activity is intense during economic booms and subdued during recessions. This paper provides a non-financial explanation for this observable pattern. We construct a model in which the target - by setting the takeover price - screens the acquirer on his (expected) ability to realize...
Persistent link: https://www.econbiz.de/10014055759
The structure of the Nigerian economy is typical of an underdeveloped country. The primary sector, in particular, the oil and gas sector, dominates the gross domestic product accounting for over 95 per cent of export earnings and about 85 per cent of government revenue between 2011 and 2012. The...
Persistent link: https://www.econbiz.de/10010233106
macroeconomic analysis develops a growth-accounting framework that captures the role of supply chain churn for aggregate growth … account for a large portion of the trend component of growth in aggregate productivity. Our findings highlight the crucial … role of input entry and exit in driving economic growth. …
Persistent link: https://www.econbiz.de/10014416196
The report examines the dynamics of company size classes in Finland and the relationship between growth barriers and …, categorizing them based on both the number of employees and revenue. The study also explores growth barriers and whether companies … barriers to growth experienced by companies. Statistically significant differences between size categories were observed for …
Persistent link: https://www.econbiz.de/10014426038
This paper studies the direct effect of foreign investment on target firm operating performance and growth. Foreign …-invested firms in industries dependent on external financing experience superior growth, suggesting that foreign investment relaxes … investment into foreign direct investment and foreign institutional investment reveals that the results are attributable to …
Persistent link: https://www.econbiz.de/10013096648
The paper considers investment and growth in the Middle East and North Africa (MENA) region. Notwithstanding cross … policymakers are to succeed in increasing the region`s economic growth rate. After discussing the relationship between investment … and growth, the paper analyzes the investment responsiveness of various countries in the region and notes the policy …
Persistent link: https://www.econbiz.de/10012781988
This paper estimates a dynamic general equilibrium model of entry, exit, and endogenous productivity growth … producing multiple products: product-mix raises productivity directly in addition to the investment channel. Third, there are … strong complementarities among the product-mix, exporting and investment decisions. Finally, I simulate the effects of a 5 …
Persistent link: https://www.econbiz.de/10012979269