This paper studies the factors that were associated with a bank's early exit from the Troubled Asset Relief Program (TARP) in 2009. Executive pay restrictions were often a rationale cited for early TARP exit, and high levels of CEO pay in 2008 were associated with banks being significantly more...

What are the costs and benefits of mandatory dividend rules? On the one hand, they make it harder for controlling shareholders to divert corporate assets. On the other hand, they reduce the internal funds available for firms to invest, possibly leading to the loss of valuable projects. To assess...

Investment in long lived projects such as buildings are characterized by uncertainties regarding project life, operation and maintenance costs, revenues and other factors that affect project economics. Since the exact values of these variable factors are usually unknown, it is difficult to make...

Mutual funds industry has been sought by French politicians as mediation between the popular savings and company’s investments through the financial markets. Questioning the link between finance and industry requires analyzing the effectiveness of this mediation. This article intends firstly...

This paper examines the sensitivity of investment to available cash-stock, a measure for internal funds, for 192 listed non-financial firms of Bangladesh from 1992 to 2002. The empirical results show that smaller firms have greater investment financing constraints than larger firms due to...

This paper examines whether the total debt ratio and bank ratio of listed companies have any impact on their fixed investment during the years in 2004-2009, and whether this impact, if it existed, differed among companies with differing investment opportunities. The study has reveals the total...

Firms producing differentiated products have high margins and therefore low risk. As a result firms invest more into developing differentiated products when they perceive risk is high. Higher risk also implies higher product skewness towards more differentiated products and therefore higher...

This paper develops a theoretical model predicting the difference in investment policy between entrepreneurs and family founders based on the firm ownership flexibility. Moreover, this paper provides evidence on the fact that small business with less flexible ownership structure does not exploit...

Though some casual empirical evidence exists, few empirical studies have examined venture capitalist attributes, diversification, and investment strategy. This paper provides an initial empirical examination of investment structure and how it relates to venture capitalist organizational form,...

Fama and French (2006) use the dividend-discount model to develop the role of expected profitability, expected investment, and the book-to-market ratio as predictors of stock returns. One reported empirical result is anomalous. The valuation model establishes that the comparative static relation...