The financial performance of India's corporate sector has been under pressure since the Global Financial Crisis. Balance-sheet data on a large cross-section of Indian non-financial corporates show that the growth in their leverage over the last 15 years has been associated with a notable...

This paper studies corporate performance in the aftermath of the global crisis by examining 6,581 manufacturing firms in 48 developed and developing countries in 2010, identifying factors of resilience as well as vulnerability. Based on a cross-sectional analysis, the results show that...

This paper examines the effect of CEO risk appetite on the return volatility of a sample of large, listed financial firms over the period 2000-2008. After controlling for firm specific characteristics, the results give strong evidence that the CEO risk appetite has an important effect on firm...

We survey and interview Chief Financial Officers (CFOs) of French firms in 2009 about the impact of the global financial crisis and their firms' financial flexibility levels before and during the crisis. Over two-thirds of CFOs report a strong impact of the crisis and cite liquidity problems,...

Finance Scholars argue that developed market firms performance are affected by leverage, but little is empirically known about such implications in emerging economies such as Saudi Arabia. Moreover, little is empirically known about the relationship between capital structure determinants and...

Economic value added (EVA) is a well-known and widely used measure of operating performance. Bacidore, Boquist, Milbourn, and Thakor [1997] introduce a modified version of EVA called refined economic val-ue added (REVA). They claim that REVA is theoretically superior to EVA. Actually, EVA is...

Over a third of Initial Public Offerings (IPOs) listing on NYSE, AMEX and NASDAQ from 1981 through 2008 accepted offer prices on or below the minimum of their initial price range. This is a striking number of issuers accepting large discounts, and has been given no attention in the extant IPO...

How many and which firms issue equity and bonds in domestic and international markets, how do these firms grow relative to non-issuing firms, and how does firm performance vary along the firm size distribution (FSD)? To evaluate these questions, we construct a new dataset by matching data on...

This study examines the hitherto unexplored question of whether and how a firm's social performance influences the breadth of that firm's share ownership. We predict and find that firms with higher corporate social responsibility (CSR) ratings attract more institutional investors (especially...

In this paper we examine the ownership structure of 169 firms listed on the Saudi Arabian stock market from 2008 to 2014. The analysis uses the testing methodology described by Demsetz and Lehn (1985) to examine the effects of firm and market instability on Saudi ownership structure and...