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Impact of Leverages on Share Price : Evidence from Cement Sector of Pakistan

Iqbal, Arsalan - 2017

This paper examines the impact of different leverage measures on the share price of Cement Sector in Pakistan Stock …

Persistent link: https://www.econbiz.de/10012963979

Information aggregation through stock prices and the cost of capital

Gorelkina, Olga; Kuhle, Wolfgang - 2013

This paper studies a firmś optimal capital structure in an environment, where the firmś stock price serves as a public signal for its credit worthiness. In equilibrium, equity investors choose how much information to acquire privately, which induces a positive relation between the amount of...

Persistent link: https://www.econbiz.de/10010189328

Stock Price Anomalies in Contrast to Stock Performance Predictors – A Comprehensive Study of Cement Industry in Pakistan

Nazir, Atif - 2020

Pakistan. Book Value per Share, Earning per Share, Dividend per Share, Gross Domestic Product and Interest Rate are considered … Pakistan Stock Exchange amid the day and age 2007 to 2016. This exploration will underline on working influences and money … benefit of firms of Pakistan relapse demonstrate and spellbinding measurements will be utilized. Our outcomes will empower the …

Persistent link: https://www.econbiz.de/10012833284

Equity Mispricing and Leverage Adjustment Costs

Warr, Richard S. - 2011

We find that equity mispricing impacts the speed at which firms adjust to their target leverage and does so in predictable ways depending on whether the firm is over- or underlevered. For example, firms that are above their target leverage and should therefore issue equity (or retire debt),...

Persistent link: https://www.econbiz.de/10013130668

Determinants of Leverage in Slovenian Blue-Chip Firms and Stock Performance Following Substantial Debt Increases

Berk, Ales S. - 2011

Hypotheses concerning capital structures are some of the most frequently tested in the financial literature. Authors usually discuss different incentives for the use of leverage. Their views can be broadly classified in two main groups. The proponents of the first argue that leverage increases...

Persistent link: https://www.econbiz.de/10013120479

Impact of the TARP Financing Choice on Existing Preferred Stock

Stock, Duane - 2012

The October 14, 2008 TARP program mandated a forced issuance of TARP preferred stock by the largest U.S. banks. Soon after, many smaller banks were not forced but chose to issue TARP preferred stock after being approved for issuance. We investigate the impact of TARP preferred issuance upon...

Persistent link: https://www.econbiz.de/10013102864

Financing Constraints and the Amplification of Aggregate Downturns

Carvalho, Daniel R. - 2014

This paper shows that during industry downturns, firms experience significantly greater valuation losses when their industry peers' long-term debt is maturing at the time of the shocks. Across a range of tests, the analysis addresses the endogenous determination of peer debt maturity structure....

Persistent link: https://www.econbiz.de/10013067077

Valuation Effects of Corporate Debt Offerings

Eckbo, B. Espen - 2009

This paper analyzes the effect of corporate debt offerings on stock prices. Straight debt offerings have non-positive price effects, while convertible debt offerings have significantly negative effects. Public utility mortgage (non-convertible) bond offerings have marginally negative effects,...

Persistent link: https://www.econbiz.de/10013155491

Evidence on the Optimal Capital Structure for Korea Composite Stock Price Index (KOSPI)-Listed Firms : Employing Inter- and Intra-Industry Analyses

Kim, Hanjoon - 2017

This study focuses on investigating the existence of optimal capital structure for firms listed in KOSPI stock market by employing inter- and intra-industry analyses. To date, very little attention seems to be paid to this subject in modern finance, considering that a firm's value is increases...

Persistent link: https://www.econbiz.de/10012956937

The Speed of Adjustment to the Target Market Value Leverage Is Slower Than You Think

Yin, Qie Ellie - 2019

In the capital structure literature, speed of adjustment (SOA) estimates are similar whether book or market leverage is used. This robustness is suspect, given the survey evidence that firms target their book leverage and the empirical evidence that they don't issue securities to offset market...

Persistent link: https://www.econbiz.de/10012902900

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