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Unanticipated interest rates, bank stock returns and the nominal contracting hypothesis
Tarhan, Vefa - In: Journal of banking & finance 11 (1987) 1, pp. 99-115
Persistent link: https://www.econbiz.de/10001028020
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The cross-section of hurdle rates for capital budgeting : an empirical analysis of survey data
Jagannathan, Ravi; Meier, Iwan; Tarhan, Vefa - 2011
"Whereas Poterba and Summers (1995) find that firms use hurdle rates that are unrelated to their CAPM betas, Graham and Harvey (2001) find that 74% of their survey firms use the CAPM for capital budgeting. We provide an explanation for these two apparently contradictory conclusions. We find that...
Persistent link: https://www.econbiz.de/10008859595
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Share repurchases and firm performance : new evidence on the agency costs of free cash flow
Nohel, Tom - In: Journal of financial economics 49 (1998) 2, pp. 187-222
Persistent link: https://www.econbiz.de/10001244937
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Why do firms use high discount rates?
Jagannathan, Ravi; Matsa, David A.; Meier, Iwan; … - In: Journal of financial economics 120 (2016) 3, pp. 445-463
Persistent link: https://www.econbiz.de/10011590104
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The impact of liquidity crises on cash flow sensitivities
Drobetz, Wolfgang; Haller, Rebekka; Meier, Iwan; … - In: The quarterly review of economics and finance : journal … 66 (2017), pp. 225-239
Persistent link: https://www.econbiz.de/10011792851
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The Cross-Section of Hurdle Rates for Capital Budgeting : An Empirical Analysis of Survey Data
Jagannathan, Ravi - 2011
Whereas Poterba and Summers (1995) find that firms use hurdle rates that are unrelated to their CAPM betas, Graham and Harvey (2001) find that 74% of their survey firms use the CAPM for capital budgeting. We provide an explanation for these two apparently contradictory conclusions. We find that...
Persistent link: https://www.econbiz.de/10013130550
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Why Do Firms Use High Discount Rates?
Jagannathan, Ravi - 2015
We find that operational constraints lead firms to use high discount rates that exceed their cost of financial capital, based on an original survey of CFOs with firm identifiers linked to responses. Firms with abundant access to capital but limited qualified management or manpower appear to...
Persistent link: https://www.econbiz.de/10013033945
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The Cross-Section of Hurdle Rates for Capital Budgeting : An Empirical Analysis of Survey Data
Jagannathan, Ravi - 2011
Whereas Poterba and Summers (1995) find that firms use hurdle rates that are unrelated to their CAPM betas, Graham and Harvey (2001) find that 74% of their survey firms use the CAPM for capital budgeting. We provide an explanation for these two apparently contradictory conclusions. We find that...
Persistent link: https://www.econbiz.de/10012461887