Showing 161 - 170 of 98,763
This paper constructs the float adjusted measure of home bias and explores the determinants of bond home bias by employing the International Monetary Fund's high quality dataset (2001 to 2009) on cross-border bond investment. The paper finds that Australian investors' prefer investing in...
Persistent link: https://www.econbiz.de/10010883266
The objective of this paper is to offer a methodology for sizing credit-sensitive Asset Backed Securities (ABS) used in the prime mortgage lending sector in the U.S. and then to evaluate their relative performance. Using a multi-factor Monte Carlo simulation framework, we perform a four-step...
Persistent link: https://www.econbiz.de/10010883267
propose that board structure and intra-industry competition jointly dictate the announcement return. In addition, we assume … that investors prefer a sustainable R&D investment to prevent intense intra-industry competition and to ensure profit … construct two variables to capture intra-industry competition: (i) the number of days that have elapsed since a competitor …
Persistent link: https://www.econbiz.de/10010883268
This paper empirically considers economies of scale that firms must reach to be considered viable ongoing entities. These are estimated from the selling prices of actual firms in two broad industries — service and manufacturing. For service firms, the minimum size is $10 million in annual...
Persistent link: https://www.econbiz.de/10010883269
It is demonstrated that carry trade can be made more profitable by taking into account the drift factor in the random walk behavior of the underlying exchange rate if it is significant. By using four currency combinations we find the drift factor to be significant at horizons longer than one...
Persistent link: https://www.econbiz.de/10010883270
This paper explores how the fearful market-based sentiment indicators affect investor trading behavior and market liquidity. Our results show that a high degree of fearful market-based sentiment induces more sell orders along with a reduction in market liquidity, and vice versa. In addition,...
Persistent link: https://www.econbiz.de/10010887052
Overwhelming evidence indicates that firms time market conditions to issue equity. I investigate the motivations for security issuances in hot and cold markets. While it is commonly believed that firms tend to exploit overvaluations to issue equity and overinvest in so-called 'hot' markets,...
Persistent link: https://www.econbiz.de/10010887053
trading and derivatives, along with other securities, tends to decrease banks' competitiveness. …
Persistent link: https://www.econbiz.de/10010887054
In this study, we intended to examine empirically how a firm's profitability performance would impact its growth process and the inference for Gibrat's Law. The basic study looks at small, medium and large firms' tendency to grow when their internally generated profits are high. The sample is...
Persistent link: https://www.econbiz.de/10010887055
We examine the ex-ante performance of 1185 firms that filed for bankruptcy between 1992 and 2009. Evidence suggests that firm specific poor operating performance and industry wide distress are the principal causes (contributing 42% each for cash flow shortfall) of corporate distress. We observe...
Persistent link: https://www.econbiz.de/10010887056