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incentives of US managers to adopt riskier business policies. Specifically, based on the agency problems between shareholders and … managers and between shareholders and creditors, a research framework is developed to identify the influence of low interest … institutional shareholders. …
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In this study, U.S. manufacturing firms' profitability measures including profit margins and returns on equity are … profitability ratios and the valuation multiples of U.S. manufacturing firms are insulated from the effects of monetary policy, and … contractionary policy is significantly correlated with these firms' profitability and price multiples, it has different impacts on …
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We uncover a link between U.S. monetary policy and liquidity risk premia in stock markets around the world. Liquidity risk premia vary considerably over time and strongly co-move across countries. They are significantly lower when U.S. monetary policy tightens. A positive shock to the Federal...
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shareholders of network control which results in a higher centralization of capital; and that a higher centralization of capital …
Persistent link: https://www.econbiz.de/10012098517
We examine whether business groups’ influence on cash holdings depends on ownership. Group affiliation can increase firms’ agency costs or benefit firms by providing an internal capital market, especially in transition economies characterized by weak investor protection and difficult...
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