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Does the information content of payout initiations and omissions influence firm risks?

Eije, Johan H. von; Goyal, Abhinav; Muckley, Cal - In: Journal of econometrics 183 (2014) 2, pp. 222-229

Persistent link: https://www.econbiz.de/10010506054

Corporate policies with permanent and transitory shocks

Décamps, Jean-Paul; Gryglewicz, Sebastian; Morellec, Erwan - 2016

We model the financing, cash holdings, and hedging policies of a firm facing financing frictions and subject to permanent and transitory cash flow shocks. We show that permanent and transitory shocks generate distinct, sometimes opposite, effects on corporate policies and use the model to...

Persistent link: https://www.econbiz.de/10011519080

Does Corporate Governance Influences Enterprise Risk in India : An Analytical Study

Jacob, Sajit - 2019

This paper investigates the association between Corporate Governance (CG) performance and enterprise risk in India. Study also investigates the behavior of risk under different classifications. As part of this study, Risk is estimated through a Multifactor Estimation of VaR. with Cash Value...

Persistent link: https://www.econbiz.de/10012858918

Litigation Risk Management Through Corporate Payout Policy

Arena, Matteo P.; Julio, Brandon - 2021

cases omit dividends while distributing more cash through share repurchases. Litigation risk changes the distribution of … payouts but not the total payout yield as the increase in share repurchases offsets the decrease in dividends. Cash-poor firms … sample of U.S. corporate lawsuits and find that firms facing significant litigation risk pay lower dividends, and in some …

Persistent link: https://www.econbiz.de/10013226359

How Risky is your Project Really? Corporate Finance Strategies for Assessing Risk

Burgess, Nicholas - 2021

Risk is a vital concept to grasp when investing in a firm or project. It is also a key ingredient required to evaluate the cost of capital and perform a valuation. An organization’s capital structure, specifically the amount of leverage and debt financing employed, must be accounted for to...

Persistent link: https://www.econbiz.de/10013234781

Corporate Risk Management and Dividend Signaling Theory

Dionne, Georges - 2010

This paper investigates the effect of corporate risk management on dividend policy. We extend the signaling framework of Bhattacharya (1979) by including the possibility of hedging the future cash flow. We find that the higher the hedging level, the lower the incremental dividend. This result is...

Persistent link: https://www.econbiz.de/10013148283

Carbon boards and transition risk: explicit and implicit exposure implications for total stock returns and dividend payouts

Mazzarano, Matteo; Guastella, Gianni; Pareglio, Stefano; … - 2021

The Security and Exchange Commission (SEC) has considered climate change as a risk issue since 2010. Several emission disclosure initiatives exist aimed at informing investors about the financial risks associated with a zero or low carbon transition. Stricter regulations, particularly in a few...

Persistent link: https://www.econbiz.de/10012694482

What is the impact of successful cyberattacks on target firms?

Kamiya, Shinichi; Kang, Jun-koo; Kim, Jungmin; … - 2018

We develop a model where a firm has an optimal exposure to cyber risk. With rational, fully informed agents and with no hysteresis, a successful cyberattack should have no impact on a financially unconstrained target's reputation and post-attack policies. In contrast, when a successful attack...

Persistent link: https://www.econbiz.de/10011969119

Debt, Default, and Risk Management : Corporate Policies Under Incomplete Markets

Bolton, Patrick - 2020

We develop a dynamic theory of capital structure, liquidity and risk management, and payout policies for a financially constrained firm under incomplete markets. In addition to costly external equity financing, the key friction we emphasize is limited financial spanning. We show that the...

Persistent link: https://www.econbiz.de/10012847578

Financial Flexibility, Risk Management, and Payout Choice

Bonaime, Alice A. - 2013

both financial and nonfinancial firms. We find that a more flexible distribution, favoring repurchases over dividends, is …

Persistent link: https://www.econbiz.de/10013093930

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