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The valuation of banks is inherently complicated because of the uncertainties arising from their information opaqueness and inherent risks. Unlike non-banking firms, banks require specialised equity-side valuation approaches. This study addresses a gap in the literature by examining valuation...
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few families. These business groups are often organised around a holding company. We analyse the dividend payouts of … the effects of several control-enhancing mechanisms (CEMs) on dividend payouts. We use precise quantitative proxies for … business group companies have lower dividend payouts as the divergence between control and ownership rights widens and the …
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This study compares firms’ dividend policy antecedents in four countries. The author surveys managers of 230 companies … from the USA, Canada, and Norway. The main antecedents of dividend policy in these countries are the level of current … little importance for Polish managers, as the history of dividend payouts in Polish-listed companies is brief. The …
Persistent link: https://www.econbiz.de/10011631027
A simple nonlinear structural model of endogenous belief heterogeneity is proposed. News about fundamentals is an IID random process, but nevertheless volatility clustering occurs as an endogenous phenomenon caused by the interaction between different types of traders, fundamentalists and...
Persistent link: https://www.econbiz.de/10005841640
This paper derives optimal perfect hedging portfolios in the presence of transaction costs within the binomial model of stock returns, for a market maker that establishes bid and ask prices for American call options on stocks paying dividends prior to expiration.(...)
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This paper suggests that managers should continue to monitor carefully country as well as style rewards and risks.
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. Moreover, a number of surveys present the assessment of payout policy, especially dividend policy, from decision …
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