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Is the Relationship between Investment and Conditional Cash Flow Volatility Ambiguous, Asymmetric or Both?
O'Connor Keefe, Michael - 2014
We investigate the effect of cash flow volatility on investment. Our evidence suggests that financially constrained … firms decrease investment (i) when experiencing persistently high volatility; (ii) when experiencing both high volatility …
Persistent link: https://www.econbiz.de/10013064908
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Is the relationship between investment and contitional cash flow volatility ambiguous, asymmetric or both?
O'Connor Keefe, Michael; Tate, James - In: Accounting and finance : journal of the Accounting … 53 (2013) 4, pp. 913-947
Persistent link: https://www.econbiz.de/10010240308
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Nexus between firm level investment and financing constraint measures : a critical review
Husain, Humaira; Alom, Khairul; Tarique, Kazi Md. - In: Review of economics & finance 12 (2018) 2, pp. 88-101
Persistent link: https://www.econbiz.de/10011885398
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The impact of financial leverage on the variance of stock returns
Aharon, David Yechiam; Yagil, Yossi - In: International Journal of Financial Studies : open … 7 (2019) 1/14, pp. 1-18
This paper investigates the direct theoretical relationship between the variance of stock returns (σ2E) and financial leverage (L) considering both corporate and personal taxes. Using a dataset of U.S. industrial firms, we examine the variance of stock returns as a function of the firm’s...
Persistent link: https://www.econbiz.de/10012038522
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Export impact on dividend policy for big Colombian exporting firms, 2006-2014
Merchan Alvarez, Federico Alberto - 2023
, especially in poor managerial quality firms. Evidence supports agency cost theory and denies signaling. …
Persistent link: https://www.econbiz.de/10014247733
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How Do Financing Constraints Affect Firms' Equity Volatility?
Carvalho, Daniel R. - 2017
Theory suggests that financing frictions can have significant implications for firms' equity volatility by shaping …
Persistent link: https://www.econbiz.de/10012973464
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The Investor-Base Hypothesis of Stock Return Volatility : Empirical Evidence
Jankensgård, Håkan - 2016
A conjecture in the literature holds that a large and diversified investor base leads to lower volatility by improving the quality of the price signal. In this paper this hypothesis is examined using unique Swedish ownership data. The data does not support the conjecture. Instead, volatility...
Persistent link: https://www.econbiz.de/10013004842
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Asset Volatility and Capital Structure : Evidence from Corporate Mergers
Levine, Oliver - 2020
, consistent with the trade-off theory of capital structure. Our coefficient estimates imply that a one standard deviation decline …
Persistent link: https://www.econbiz.de/10012856772
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Strategies on Initial Public Offering of Company Equity at Stock Exchanges in Imperfect Highly Volatile Global Capital Markets with Induced Nonlinearities
Ledenyov, Dimitri - 2015
information absorption capacity by the investors on the IPOs impacts the investor's investment decisions and serves as a pre …-determinant for the successful IPO deal completion. We propose the Ledenyov theory on the origins of the IPO underpricing and long … investment strategies can only be selected by the investors with the highest information absorption capacity through the decision …
Persistent link: https://www.econbiz.de/10013026463
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The Investor-Base Hypothesis of Stock Return Volatility : Empirical Evidence
Jankensgård, Håkan - 2016
A conjecture in the literature holds that a large and diversified investor base leads to lower volatility by improving the quality of the price signal. In this paper this hypothesis is examined using unique Swedish ownership data. The data does not support the conjecture. Instead, volatility...
Persistent link: https://www.econbiz.de/10012990075