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A large discrepancy exists on the use of the investment–cash flow sensitivity as a measure of financing constraints of … shows a positive investment-cash flow sensitivity for business group affiliated firms and negative investment cash flow … sensitivity for non-group affiliated firms. Additional tests accordingly express that investment-cash flow sensitivity of …
Persistent link: https://www.econbiz.de/10012861026
There are three fundamental ways of testing the validity of an investment algorithm against historical evidence: a) the … investment algorithm should be deployed throughout all market regimes. We denote such assumption the “all-weather” hypothesis …, and the algorithms based on that hypothesis “strategic investment algorithms” (or “investment strategies”).The all …
Persistent link: https://www.econbiz.de/10012862212
Traditionally, the development of investment strategies has required domain-specific knowledge as well as access to … restricted datasets. This has meant that investment opportunities are not researched by the majority of data scientists, because … crowdsourcing paradigm for investment research. Tournaments can overcome the two research barriers (domain-specific knowledge and …
Persistent link: https://www.econbiz.de/10012847749
FinTech is a new term combining finance and technology. The term did not exist until the end of 2014. Although there is agreement over what finance is, there is no agreed upon definition of technology. It changes with time. American sociologist Read Bain wrote in 1937 that technology includes...
Persistent link: https://www.econbiz.de/10014103494
This Article presents the legal literature's first detailed analysis of the inner workings of Initial Coin Offerings. We characterize the ICO as an example of financial innovation, placing it in kinship with venture capital contracting, asset securitization, and (obviously) the IPO. We also take...
Persistent link: https://www.econbiz.de/10012898759
This paper investigates the compensation and growth dynamics of private equity firms. Using proprietary data, I estimate that about half of their revenue is performance-related and find that current fund performance also has indirect effects on firms’ future revenue. The dynamics of these...
Persistent link: https://www.econbiz.de/10013405195
This study investigates the loyalty-based investment behavior in Taiwan. The link between team associations and loyalty … loyalty and attitudinal loyalty have significant positive effects on fans' investment intentions. Moreover, both attributes … higher influence on investment intentions than attitudinal loyalty does. It is the benefits provided by the team to fans, not …
Persistent link: https://www.econbiz.de/10008507955
This paper presents a switching regression model of investment decision where the probability of a firm facing … establishes that financially constrained firms exhibit a much higher investment-cash flow sensitivity than those identified to be …
Persistent link: https://www.econbiz.de/10005050759
investments such as R&D, acquisitions, and change in assets. It appears that the positive relationship between investment and …
Persistent link: https://www.econbiz.de/10010583649
Treasury allows to appreciate the enterprise's performance, having also a strategic role in terms of its training level and usage manners. Release (training) of treasury (cash-flow) is the proof of the strategic position of enterprise in relation to its products, its markets, its competitors and...
Persistent link: https://www.econbiz.de/10005790410