Intro -- FINANCIAL FORECASTING AND DECISION MAKING -- TABLE OF CONTENTS -- Chapter 1 FORECASTING PREREQUISITES -- LEARNING OBJECTIVES -- An Overview of the Forecasting Process -- KNOWLEDGE CHECK -- More on the Forecasting Process -- PURPOSE OF FORECASTING -- FIRST-PASS FORECAST -- SIMULATION --...

We find that the most common board size for US publicly-traded firms ranges from eight to eleven directors. Over time, small boards (seven or fewer directors), tend to increase their size, but large boards (12 or more directors), tend to shrink their size. This result suggests a significant mean...

By examining only firms that experience net losses and negative cash flows, we are able to analyze a sample of firms that face a discrete refinancing point with no internal equity available, as well as a liquidity mismatch between assets and liabilities. These unique characteristics of our...

Using a sample of 3,688 mergers and acquisitions over the period of 1992 to 2005, we find that post-merger equity risk declines roughly 18% in the year after the announcement. We find that post-merger equity risk is negatively related to the sensitivity of CEO wealth to stock return volatility...