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Our paper represents the first attempt in the literature to estimate the properties of business income risk from privately held businesses in the US. Using a new, large, and confidential panel of US income tax returns for the period 1987-2009, we extensively document the empirical stylized facts...
Persistent link: https://www.econbiz.de/10013089179
The purpose of this article is an attempt to determine the scope of Polish companies operating on the market, which could raise capital by the means of the Warsaw Stock Exchange. Therefore, a preliminary analysis is made of selected results achieved by economic entities in the years 2003-2012 as...
Persistent link: https://www.econbiz.de/10012030671
Accurate measurement of stock levels, turnover, and profitability in microenterprises in developing countries is difficult due to the fact that the majority of these firms do not keep detailed records. We test the use of radio frequency identification (RFID) tags as a means of objectively...
Persistent link: https://www.econbiz.de/10011825016
Persuaded by the pecking order assumptions, where internal fund is preferred over debt and equity when financing investment projects, this study provided empirical evidence on the interaction between working capital management and corporate debt structure, and the effect of this on corporate...
Persistent link: https://www.econbiz.de/10010224764
value, earnings per share, and dividend policy, on stock returns. Our research uses regression analysis to determine and …
Persistent link: https://www.econbiz.de/10014442351
This note deals with the simplified case of a principal (e.g., a firm's board of directors) which delegates execution of an economic activity to a business unit (or a subsidiary firm) managed by a manager. It is assumed that the manager has no control over the cash flows injected into the unit...
Persistent link: https://www.econbiz.de/10013030775
Chinese companies report year-end earnings and dividends simultaneously, so when the two sets of news are in conflict …, the relative importance of earnings versus dividends can be disentangled. Chinese dividend announcements take precedence … over earnings news, as revealed by Cumulative Absolute Returns for two-way earnings and dividend news sorts of the data …
Persistent link: https://www.econbiz.de/10013101570
Persuaded by the pecking order assumptions, where internal fund is preferred over debt and equity when financing investment projects, this study provided empirical evidence on the interaction between working capital management and corporate debt structure, and the effect of this on corporate...
Persistent link: https://www.econbiz.de/10013071720
This study examines the influence of managerial power on analysts' earnings forecast accuracy. CEO/Chairperson duality … is positively associated with analysts' earnings forecast errors for large firms, but not for small firms. The non …
Persistent link: https://www.econbiz.de/10013061532
We study how a Net Stable Funding Ratio as defined by the Basel Committee in 2014 (NSFR (2014)) would affect the profitability of German banks and their capacity to lend. With a NSFR-model that is partially calibrated against reported NSFRs, we find that 9% of German banks do not comply with the...
Persistent link: https://www.econbiz.de/10011541056