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Sales growth is essential for an enterprise's survival and financial growth.If an enterprise manages to achieve sales growth, its expansion can be accomplished. However, does sales growth always have only positive effects?If the enterprise is not collecting enough cash, it can miss a payment on...
Persistent link: https://www.econbiz.de/10014425519
projected changes to capital adequacy measures, minimum liquidity requirements and Corporate Governance are tested on a set of …
Persistent link: https://www.econbiz.de/10014139527
We propose a unified explanation for two seemingly disparate empirical findings: the negative abnormal returns of 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...
Persistent link: https://www.econbiz.de/10013007036
We propose a unified explanation for two seemingly disparate empirical findings: the negative abnormal returns of 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...
Persistent link: https://www.econbiz.de/10013007449
We assess the impact of credit constraints on investment, inventories and other working capital and firm growth with a large panel of small and medium-sized enterprises from 12 European countries for the period 2014-2016. The data come from the Survey on the access to finance of enterprises...
Persistent link: https://www.econbiz.de/10012955240
We identify a firm's growth type by its valuation volatility which proxies for the extent to which asymmetric information arises from growth opportunities rather than from assets-in-place. We show that firm investment style (measured by R&D/[Capex R&D]) is persistent and positively aligned with...
Persistent link: https://www.econbiz.de/10013101562
We assess the impact of credit constraints on investment, inventories and other working capital and firm growth with a large panel of small and medium-sized enterprises from 12 European countries for the period 2014-2016. The data come from the Survey on the access to finance of enterprises...
Persistent link: https://www.econbiz.de/10012926939
We assess the impact of credit constraints on investment, inventories and other working capital and firm growth with a large panel of small and medium-sized enterprises from 12 European countries for the period 2014-2016. The data come from the Survey on the access to finance of enterprises...
Persistent link: https://www.econbiz.de/10012928556
Using the recent public health pandemic (COVID-19) as a laboratory experiment, I find evidence of an asymmetrical relation between a firm's debt maturity structure choice and its growth opportunities. Firms with high pre-pandemic exposure to growth-inducing factors obtained from 10-K filings...
Persistent link: https://www.econbiz.de/10013214384
In many ways, China is the new frontier for entrepreneurship; perceived to be: a logical primary source of economical manufacturing, raw materials, component parts, and as a major end market. China may also represent the most likely future competition for many American industries as well as our...
Persistent link: https://www.econbiz.de/10013111625