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Stock repurchase effect with loan or idle fund

Chieh Liang, Wei; Chun Tsao, Yao; Kuei Chen, Wen; Chau … - In: Management Decision 52 (2014) 7, pp. 1236-1244

Purpose – The purpose of this paper is to integrate Modigliani-Miller (MM) theory and stock repurchases strategy to … procure a practical concept for capital decision. Design/methodology/approach – No-arbitrage proof model deduction was used in … derives some propositions by trichotomy property and keeps the key assumptions of MM Capital Structure Theory. Findings …

Persistent link: https://www.econbiz.de/10014936295

Managing ownership by management

Franks, Julian R.; Mayer, Colin P.; Miyajima, Hideaki; … - 2024

Persistent link: https://www.econbiz.de/10014529545

Are Fund Alphas Robust Proxies for Funds Managers' Managerial Skill?

Obrimah, Oghenovo A. - 2019

This study provides formal theoretical evidence that constructions of fund alpha that are implemented using robust specifications of asset pricing models generate alpha estimates that are well defined. Regardless, the formal theoretical model shows fund alphas that are constructed with the...

Persistent link: https://www.econbiz.de/10012897319

The Performance of Long-Serving Fund Managers

Clare, Andrew - 2016

Apparently “there is no substitute for experience”. This and similar phrases are often heard in the worlds of politics, business, sport and others. It is the sort of proposition that makes sense to people. However, while the performance of actively managed funds has attracted a great deal of...

Persistent link: https://www.econbiz.de/10012983578