Im Zusammenhang mit den neuen "Basel-II"-Regelungen, die die Kreditvergabe an Unternehmen verändern, wächst das Interesse besonders kleiner und mittlerer Unternehmen an hybriden Finanzierungsinstrumenten. Diese Finanzierungsform wird auch als Mezzanine-Finanzierung bezeichnet. Je nach...

The study investigates associations, first, between a firm's intellectual capital and market value, and second, between a firm's intellectual capital and financial performance in the context of Bangladeshi companies selected from three different industries - banking, textiles, and...

We investigate the determinants of firms' implicit insurance to employees, using a difference-indifference approach: we rely on differences between family and non-family firms to identify the supply of insurance, and exploit variation in unemployment insurance across and within countries to...

The purpose of this study is to evaluate the effect of institutional investors on the financial statements of the predictive value of listed companies in Tehran Stock Exchange. According to the owners of institutional and professional investors, their presence may cause monitor management. This...

This report reviews recent as well as planned changes to accounting and solvency regulations affecting insurers and pension funds and how they may impact long-term investing by these institutions. The review of existing evidence focuses mainly on the impact of risk-based solvency requirements,...

Four new ratios, that capture firms' Stability, Downside Risk and Audit Quality, are significant predictors of financial distress as evidenced by bankruptcy. Moreover, they improve substantially a logit based credit metric when combined with other classic ratios. A credit metric that comprises a...

This paper examines the initiation of analyst coverage of IPO firms in the presence of management forecasts. For a sample of 763 Australian IPOs from 1992 to 2004, we find firms that provide a management forecast in the prospectus are more likely to receive analyst coverage, after correcting for...

This report updates and expands earlier studies to look at the profitability of $349.7 billion of buybacks executed from 2000 through early 2010 by a sample of 275 corporations. The sample companies, drawn mainly from the technology sector, enjoy total equity market value today of $945.6...

We use earnings forecasts from a cross-sectional model to proxy for cash flow expectations and estimate the implied cost of capital (ICC) for a large sample of firms over 1968-2008. The earnings forecasts generated by the cross-sectional model are superior to analysts' forecasts in terms of...

National Semiconductor states that its stock repurchase program's goal is to contribute to increasing the firm's return on invested capital for the benefit of shareholders and employees. Which measure of return on capital is National watching? A review of four return on capital ratios suggest...