Showing 1 - 10 of 612,811
Persistent link: https://www.econbiz.de/10001565579
I examine whether market learning and M&A activity affect the association between shareholder rights and acquisition performance. Using a sample of acquisitions completed in the period of 1990-2006, I find that the negative association between governance indices and bidder returns disappears in...
Persistent link: https://www.econbiz.de/10012980117
Persistent link: https://www.econbiz.de/10012802344
We propose a genuinely internal approach to project valuation and decision based on the average Return On Investment (ROI), obtained as the ratio of total operating profit (NOPAT) to total invested capital or, equivalently, as the ratio of net cash flow to total invested capital. The approach...
Persistent link: https://www.econbiz.de/10013237114
Persistent link: https://www.econbiz.de/10003622601
Persistent link: https://www.econbiz.de/10001593516
This is the first study to investigate the profitability of Barroso and Santa-Clara's (2015) risk-managing approach for George and Hwang's (2004) 52-week high momentum strategy in an industrial portfolio setting. The findings indicate that risk-managing adds value as the Sharpe ratio increases,...
Persistent link: https://www.econbiz.de/10012964844
Finance theory does not provide a comprehensive framework for explaining risk management within the imperfect financial … corporate hedging: equity value maximising strategies and strategies determined by managerial risk aversion. The first category … distress and costs of external finance or to replace home-made hedging by shareholders. The second category considers that …
Persistent link: https://www.econbiz.de/10011441429
Persistent link: https://www.econbiz.de/10001608307