This study examines how the effect of uncertainty on capital investment varies between focused firms and conglomerate … frictions, I find that uncertainty, measured by industry-level stock return volatility, has a negative effect on investment … among focused firms but has no statistically significant effect on investment among conglomerate segments. I also show that …

, investment and financial policies on the higher moments of their stock return distributions. We introduce novel channels showing … that cash-flow hedging and capital investment by firms affects their future stock return distribution. Hedging by firms … investment counteracts these effects. Using hand-collected hedging data from energy-related firms, we find empirical results …

corporate investment, saving, and diversification decisions. We find that investment dynamics are more important in explaining …

leading to price and volume response of the split stock.Economic theory states that when price is lower, there is a tendency … priced stock and small priced stock are different, giving credence to diversification theory …

financial economics and corporate finance. His innovative work established the underpinnings for Modern Portfolio Theory — an … investment framework for the selection and construction of investment portfolios based on the maximization of expected portfolio … returns and simultaneous minimization of investment risk. This paper presents a simplified perspective of Markowitz …

sharing between firms and employees leads to aggressive investment policies of defined corporate pensions as well as their … allocation and the relations among pension investment risk, corporate bankruptcy probability, and pension funding. Further, we …