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A look at the actual cost of capital of US firms
Moore, David J. - In: Cogent Economics & Finance 4 (2016) 1, pp. 1-15
The capital asset pricing model (CAPM) receives both criticism and widespread adoption by practitioners and academics … to address CAPM criticisms and provide new perspective on WACC estimates. The firm-based measure focuses on firm …-based WACC measures, along with the traditional CAPM-based WACC measure, to a broad sector-based cross section from 1972 to 2015 …
Persistent link: https://www.econbiz.de/10011988697
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An Agency Perspective of Auditor Change in Small Firms
Keasey, Kevin; Watson, Robert - In: Journal of Small Business Finance 1 (1991) 1, pp. 45-59
This paper uses an agency theory perspective to develop an understanding of the determinants of auditor change for …
Persistent link: https://www.econbiz.de/10011310289
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Auditing as a Signal in Small Business Lending
Dharan, Bala G. - In: Journal of Small Business Finance 2 (1992) 1, pp. 1-11
This paper models the borrowing decision of a small firm seeking a bank loan when it can optionally hire, at a cost, an independent external auditor to convey its risk characteristics to lenders. The analysis shows that a necessary condition for a potential borrower to prefer having an audit to...
Persistent link: https://www.econbiz.de/10011310306
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Value creation in M&A transactions, conference calls, and shareholder protection
Fraunhoffer, Robert; Kim, Ho Young; Schiereck, Dirk - In: International Journal of Financial Studies 6 (2018) 1, pp. 1-21
This study investigates whether conference calls accompanying M&A announcements in Europe provide valuable information for capital market participants and hence induce an abnormal stock price revaluation on the bidder's equity. Based on handpicked data for transactions between 2008 and 2012 we...
Persistent link: https://www.econbiz.de/10011996071
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Earnings persistence of European football clubs under UEFA's FFP
Dimitropoulos, Panagiotis E.; Koronios, Konstantinos - In: International Journal of Financial Studies 6 (2018) 2, pp. 1-15
The goal of this study was to examine the predictability and persistence of earnings of the European football clubs and whether the new Union of European Football Associations (UEFA) Financial Fair Play (FFP) licensing regulation has forced clubs to produce a more predictable earnings stream. We...
Persistent link: https://www.econbiz.de/10011996115
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The effect of economic conditions on accounting conservatism under IFRS in Europe
Cerqueira, Antonio; Pereira, Cláudia - In: Review of Economic Perspectives 20 (2020) 2, pp. 137-169
line with the positive accounting theory when suggesting that conservatism plays a fundamental role as corporate governance …
Persistent link: https://www.econbiz.de/10012384142
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The effect of dividend payment on firm's financial performance: An empirical study of Vietnam
In: Journal of Risk and Financial Management 14 (2021) 8, pp. 1-11
This research aims to investigate the effects of dividend policies on a firms' financial performance. The paper explores the research gap and then builds a research model using ROA, ROE, and Tobin's Q as dependent variables, dividend rate and decision of dividend payment as independent...
Persistent link: https://www.econbiz.de/10013201037
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Measuring credit risk in family firms
Abinzano, Isabel; Corredor, Pilar; Martinez, Beatriz - In: BRQ Business Research Quarterly 25 (2022) 3, pp. 265-282
This article attempts to identify the default risk measure which best reflects the idiosyncratic context of public family firms. Seven accounting- and market-based measures are compared over a sample of 981 US family and non-family firms for the period 2000-2016. The results show that the...
Persistent link: https://www.econbiz.de/10013327744
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Firm size does matter: New evidence on the determinants of cash holdings
Magerakis, Efstathios; Gillas, Konstantinos Gkillas; … - In: Journal of Risk and Financial Management 13 (2020) 8, pp. 1-33
We study the financial determinants of cash holdings and discuss the importance of firm size in the post-crisis period. We employ panel data regression analysis on a sample of 6629 non-financial and non-utility listed companies in the United Kingdom from 2010 to 2018. We focus on the comparative...
Persistent link: https://www.econbiz.de/10012611409
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The determinants of bank's stability: A system GMM panel analysis
In: Cogent Business & Management 8 (2021) 1, pp. 1-18
This study was conducted to investigate the determinants of bank's stability in an emerging country. Data were collected from the commercial banks listed on Vietnam's Stock Exchanges over the years from 2010 to 2018. Further, the generalized method of moments (GMM) regression technique to...
Persistent link: https://www.econbiz.de/10012657404