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This study seeks to fill a gap in the research on the behavior of entrepreneurs, their decisions to develop their firms independently or with venture capitalists, and the relation to their abilities and to the value in making that ability known, even at a cost. Information asymmetry exists when...
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This study examines how the effect of uncertainty on capital investment varies between focused firms and conglomerate … frictions, I find that uncertainty, measured by industry-level stock return volatility, has a negative effect on investment … among focused firms but has no statistically significant effect on investment among conglomerate segments. I also show that …
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Investors who have the flexibility to invest both long and short can benefit from both “winners” and “losers.” This will be especially advantageous if the latter — the short-sale candidates — are less efficiently priced than the winners — the purchase candidates. This is likely to...
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Empirical tests of the Sharpe-Lintner-Black Capital Asset Pricing Model (CAPM) have generally concluded that there is a positive, approximately linear, trade-off between average return and systematic risk (beta) for portfolio returns of common stocks. Most of the empirical studies, however, have...
Persistent link: https://www.econbiz.de/10013056364
Empirical tests of the Sharpe-Lintner-Black - Capital Asset Pricing Model (CAPM) have generally concluded that there is a positive, approximately linear, trade-off between average return and systematic risk (beta) for portfolio returns of common stocks. Most of the empirical studies, however,...
Persistent link: https://www.econbiz.de/10013059324