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Sentiment and style : evidence from Republican managers

Karadas, Serkan; Papakroni, Jorida; Schlosky, Minh Tam - In: International Journal of Financial Studies : open … 10 (2022) 2, pp. 1-17

managers have a consistent impact on corporate policies, providing support for the "behavioral consistency" theory. Further … reduce its financial risk. …

Persistent link: https://www.econbiz.de/10013252787

Granularity of corporate debt

Choi, Jaewon; Hackbarth, Dirk; Zechner, Josef - 2013

We study to what extent firms spread out their debt maturity dates across time, which we call "granularity of corporate debt." We consider the role of debt granularity using a simple model in which a firm's inability to roll over expiring debt causes inefficiencies, such as costly asset sales or...

Persistent link: https://www.econbiz.de/10010211468

Product market strategy and corporate policies

Hajda, Jakub; Nikolov, Boris - 2020

How does product life cycle affect investment and financing? To answer this question, we structurally estimate a dynamic model where the firm chooses product portfolio characteristics that influence cash flow dynamics and shape corporate policies. In the model, the firm trades off higher...

Persistent link: https://www.econbiz.de/10012421456

Employing metrics of effectiveness in the capital structure management of an enterprise

Wieprow, Joanna - In: Economic and environmental studies : a journal for … 17 (2017) 4, pp. 969-984

Effectiveness metrics can be employed in the management of capital structure in an enterprise understood as a relationship between equity and liabilities on which interest is paid. In using the measures, it is possible to analyze and evaluate capital structure, and also to strive for its...

Persistent link: https://www.econbiz.de/10011857718

The determinants of capital structure : evidence from public listed companies in Malaysia, Singapore and Thailand

Jacinta Chan Phooi M'ng; Mahfuzur Rahman; Sannacy, Selvam - In: Cogent economics & finance 5 (2017) 1, pp. 1-34

We investigate the determinants of capital structure of public listed companies on Bursa Malaysia, Singapore Stock Exchange and Thailand Stock Exchange from 2004 to 2013. We also investigate how firm-specific factors such as profitability, firm size, tangibility of assets and depreciation to...

Persistent link: https://www.econbiz.de/10011887563

Financial constraints and firm capital structure in Kenya

Kirui, Benard Kipyegon; Gor, Seth Omondi - 2018

theory was not supported. However, allowing financial constraints regimes in pecking order equation improved the fit of the …

Persistent link: https://www.econbiz.de/10011771645

Bank capital, liquid reserves, and insolvency risk

Hugonnier, Julien; Morellec, Erwan - 2015

risk. In this model, banks face taxation, flotation costs of securities, and default costs and maximize shareholder value …

Persistent link: https://www.econbiz.de/10011293576

Analysis of bankruptcy threat for risk management purposes : a model approach

Wieczorek-Kosmala, Monika; Błach, Joanna; Trzęsiok, Joanna - In: International Journal of Financial Studies : open … 6 (2018) 4, pp. 1-17

In previous works, the importance of risk management implementation was addressed with regard to the problem of … bankruptcy threat, with the explanation of risk impact on higher bankruptcy costs or the underinvestment problem. However, the … evaluation of the impact of risk outcomes is technically linked to risk frequency and risk severity as the two dimensions of the …

Persistent link: https://www.econbiz.de/10011963925

Risky Tax Shields and Risky Debt : A Monte Carlo Approach

Velez-Pareja, Ignacio - 2010

I identify three sources of risk for the tax shields: two of them associated to the risk of debt and one associated to … the operating risk. I present a set of conditions for defining risky debt associated to cash flow and not to accounting … risk of tax shields is Ku, the unlevered cost of equity …

Persistent link: https://www.econbiz.de/10013141867

Risky Tax Shields : An Exploratory Study

Velez-Pareja, Ignacio - 2013

This article (1) identifies three sources of risk for tax shields (TS): Two of them are associated with debt risk and … one is associated with operating risk. (2) A set of conditions for defining risky debt associated with cash flow, not with … suggests that it is not reasonable to define the risk of TS as measured by a single discount rate, but rather as a mix of debt …

Persistent link: https://www.econbiz.de/10013094155