Efficient and effective working capital management is crucial given its impact on the company's profitability. The focus of the research in this paper is the impact of individual components of working capital on the profitability of industrial companies. The research was conducted on a sample of...

This study investigates the relationship between board co-option and firms' cash holding behavior. It shows that as the fraction of co-opted directors increases, firms tend to hoard more cash due to agency reasons, indicating that co-opted boards are weaker monitors. The results remain robust to...

Firms face uncertain financing conditions, which can be quite severe as exemplified by the recent financial crisis. We capture the firm's precautionary cash hoarding and market timing motives in a tractable model of dynamic corporate financial management when external financing conditions are...

This case is considered to be the connecting thread to the 35 hour Corporate Finance course for postgraduates and executive education in which: 1) the main concepts of financial statements analysis will be reviewed, including those regarding cost structure, break-even point and operating...

We show that multinational firms transmit shocks across countries through their internal capital markets. We study a credit supply shock to parent firms in Germany. International affiliates outside Germany supported their parents through internal lending, became financially constrained...

The present study aims to examine the relationship between dividend policy and earnings management by explicitly considering the role of the agency problem and financing constraints. The sample comprises 3250 non-financial Chinese listed firms from 2009 to 2018. This study uses fixed- and random...

We show that multinational firms transmit shocks across countries through their internal capital markets. We study a credit supply shock to parent firms in Germany. International affiliates outside Germany supported their parents through internal lending, became financially constrained...

We examine firms' simultaneous choice of investment, debt financing and liquidity in a large sample of US corporates between 1980 and 2014. We partition the sample according to the firms' financial constraints and their needs to hedge against future shortfalls in operating income. In contrast to...

This article is based on the keynote address from the Eastern Finance Association meeting in South Beach in April 2010. In this keynote address, I discuss how to engage and motivate students by using the results from surveys of corporate finance professionals. Specific examples are given to...