Similar Search Results

Finance and Innovation: The Case of Publicly Traded Firms

Atanassov, Julian - 2005

We hypothesize that established firms with innovative projects and technologies will make relatively greater use of arm's length financing (such as public debt and equity); whereas less innovative firms will tend to use relationship based borrowing (such as bank borrowing). The hypothesis is...

Persistent link: https://www.econbiz.de/10009477313

Essays in Agency, Incentives and Contracting.

Tham, Tze-Minn Mandy - 2008

This dissertation examines issues in agency, incentives and contracting. The first two essays examine the relation between managerial power and supplier value while the third essay examines the behavior of investors in religious funds and fund performance.In Essay One, I find that supplier...

Persistent link: https://www.econbiz.de/10009477331

Essays in Corporate Finance and Labor Economics.

Li, Xiaoyang - 2011

My dissertation is composed of three essays addressing the following three questions: First, how do mergers and acquisitions create value? Second, what role does labor union play in affecting merger outcomes? Third, how do CEOs' career concerns impact firms' restructuring decisions? In the first...

Persistent link: https://www.econbiz.de/10009477337

Managerial Investment and Changes in GAAP: An Internal Consequence of External Reporting.

Shroff, Nemit Omprakash - 2011

This paper investigates whether mandatory changes in Generally Accepted Accounting Principles (GAAP) affect investment in physical capital and research and development. Using a sample containing forty–nine changes in GAAP, I find evidence that changes in accounting rules affect investment...

Persistent link: https://www.econbiz.de/10009477405

Impact of Cross-listing on Local Stock Returns: Case of Russian ADRs

Smirnova, Elena - 2004

The paper examines the impact of American Depositary Receipt (ADR) listings on the return of the underlying Russian stocks. The contribution of this paper is twofold. First, it looks at a new sample of ADRs issued by Russian companies. Second, the technique used to estimate the market model is...

Persistent link: https://www.econbiz.de/10009477458

Mean reversion in annual earnings and its implications for security valuation

Lipe, Robert; Kormendi, Roger C. - 1994

This article documents the long-horizon mean reverting character of annual earnings and tests the implications of such mean reversion for security valuation. First, both theory-based and nonparametric measures of earnings persistence decrease as the estimation order increases, revealing 40...

Persistent link: https://www.econbiz.de/10009477487

The Effect of Trade Credit on Operational Policies and on the Relationship Between Banks, Suppliers, and Manufacturers.

Brunet, Pierre-Yves - 2010

Companies in a broad range of industries and economies rely heavily on external sources to finance their operations … focus on cash-constrained manufacturers that rely on external sources to finance their operations. More specifically, I …-constrained manufacturers should only use trade-credit to finance their operations when borrowing from suppliers is cheap or when they are …

Persistent link: https://www.econbiz.de/10009477491

On the Economics of Securitization: A Framework and Some Lessons from U.S. Experience

Van Order, Robert - 2007

The paper provides a framework for analyzing the development of securitization as a vehicle for funding loans. Broadly speaking there are two models for funding loans: the portfolio lender model, which typically involves banks or other intermediaries originating and holding the loans and funding...

Persistent link: https://www.econbiz.de/10009477496

Individual and Institutional Investor Behavior.

Stoffman, Noah S. - 2008

The first chapter analyzes both the disposition effect and trading performance at the individual level to determine whether and how investors learn from their trading experience. The study finds that performance improves and the disposition effect declines as investors become more experienced,...

Persistent link: https://www.econbiz.de/10009477557

Equilibria in a Hotelling Model: First-Mover Advantage?

Rajan, Uday - 2008

We study a generalized Hotelling duopoly in which a consumer's net utility from a product depends on the location of product and consumer in product attribute space, a random utility term that captures idiosyncratic preferences, and the price of the product. Our model allows us to vary the...

Persistent link: https://www.econbiz.de/10009477560