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Real effects of investement banking relationships : evidence from the financial crisis

Oesch, David; Schuette, Dustin; Walter, Ingo - 2014 - This version: 5 February 2014

In this paper, we investigate the damage to real-sector investment spending and corporate financing activities triggered by the failure of three major investment banks during the 2007-09 financial crisis. We find that firms characterized by pre-crisis corporate investment banking relationships...

Persistent link: https://www.econbiz.de/10010410832

Firm Complexity and Post-Earnings-Announcement Drift

Barinov, Alexander - 2020

We show that the post earnings announcement drift (PEAD) is stronger for conglomerates thansingle-segment firms. Conglomerates, on average, are larger than single segment firms, so it isunlikely that limits-to-arbitrage drive the difference in PEAD. Rather, we hypothesize that marketparticipants...

Persistent link: https://www.econbiz.de/10012856855

The impact of customer capital on company's market value : an empirical study from 100 U.S. stock market leaders

Lehenchuk, Serhii; Zavalii, Tetiana - In: International journal of management and economics 57 (2021) 4, pp. 299-312

The aim of the paper is to establish the relationship between the customer capital and the company's market value (MV). Examining this impact seems justified as the topic has been rarely investigated till now. The regression analysis was used to achieve the research objective. We analyzed...

Persistent link: https://www.econbiz.de/10012821523

Alliance Networks, Corporate Investment, and Firm Valuation

Lee, Sangho - 2018

Alliances establish a private channel of communication between allied firms in which managers can obtain useful information about future investment opportunities. I examine whether this feature of alliances hinders the market's ability to correctly assess the investment opportunities of firms in...

Persistent link: https://www.econbiz.de/10012936063

The Effect of Board Structure on Firm Performance - New Evidence from Product Market Conditions

Hu, Xiaoyuan - 2019

We study the effect of corporate board structure on firm performance under different product market conditions. Using customer-supplier links to identify exogenous downstream demand shocks, we find that board independence has a more significant effect on firm performance when the firm-specific...

Persistent link: https://www.econbiz.de/10012899406

Financial constraints and propagation of shocks in production networks

Demir, Banu; Javorcik, Beata K. Smarzynska; Michalski, … - 2020

empirical tests, motivated by a simple theory, demonstrate that low-liquidity firms amplified its transmission. …

Persistent link: https://www.econbiz.de/10012294883

Ownership, Control and Market Liquidity

Ginglinger, Edith - 2015

We examine how ownership concentration and the separation of ownership and control affect secondary-market liquidity in … France. We find that firms with a large insider blockholder exhibit significantly lower liquidity. However, different methods … of enhancing control affect liquidity in different ways. Pyramid structures impair market liquidity. Double voting right …

Persistent link: https://www.econbiz.de/10013036769

The effects of COVID-19 on firms' liquidity : evidence from the Athens Stock Exchange

Nerantzidis, Michail; Koutoupis, Andreas; Tzeremes, … - In: Journal of business economics and management 24 (2023) 1, pp. 155-176

influence the liquidity of Greek listed firms. It also explores the main factors that drive the level of operating cash flow … (OCF). By simulating a decrease of 50% and 75% in sales, we perform stress-tests on three liquidity ratios for 154 listed … about one year, whereas about 12% would become illiquid within two years. It is also observed that liquidity does not …

Persistent link: https://www.econbiz.de/10014330652

Liquidity and solvency of a company and the rate of return : an analysis of the Warsaw Stock Exchange

Zalewska, Justyna; Nehrebecka, Natalia - In: Central European economic journal 6 (2019) 53, pp. 199-220

The purpose of the article is to analyse the impact of various financial ratios used to evaluate a company’s liquidity … developing countries, the relationship between liquidity and solvency on the one hand and the return on equity on the other is … of the capital asset pricing model (CAPM) model and analysed portfolios based on three liquidity ratios and four solvency …

Persistent link: https://www.econbiz.de/10012303197

Empirical safety thresholds for liquidity and indebtedness ratios on the Polish capital market

Welc, Jacek - In: European financial and accounting journal : EFAJ 11 (2016) 3, pp. 39-52

One of the elements of company’s evaluation is ratio analysis. It includes computation of bankruptcy risk metrics. There are multiple such measures, of which two seem to be quite universal and commonly applied. These are current ratio and indebtedness ratio. In this study, the accuracy of...

Persistent link: https://www.econbiz.de/10011698223

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