von Eije, Henk; Goyal, Abhinav; Muckley, Cal B. - In: Journal of Econometrics 183 (2014) 2, pp. 222-229
We study the influence on firm risks of NASDAQ and NYSE firm payout initiations and omissions. These payout events can be interpreted as managerial signals of firm financial life-cycle maturation resulting in concomitant changes in firm risks. We remove confounding payout types and we match on...