Chinese listed firms are characterized by a great magnitude of long-duration accounts receivable from controlling shareholders and their affiliates, and they often do not make bad debt allowances. On many occasions, these receivables are never collected. We find that firms with a great magnitude...

This paper uses a novel method to assess the timing of corporate share repurchases by examiningabnormal returns after firms stop repurchasing shares. This method reveals several new findings.First, repurchasing firms only experience positive abnormal returns after they stop repurchasingshares....

Based on an original data set with information of a representative portfolio of among the largest 304 Research and Development (R&D) investing companies over the 20032006 period, the overall analysis, except in a few cases, gives some robust evidence of a positive relationship between top...

This paper investigates the direct theoretical relationship between the variance of stock returns (σ2E) and financial leverage (L) considering both corporate and personal taxes. Using a dataset of U.S. industrial firms, we examine the variance of stock returns as a function of the firm’s...

This paper separates the amount of IPO underpricing (primary market underpricing) and overvaluation (secondary market overvaluation) from the value of an IPO’s initial return to evaluate the relative importance of these two factors and their main determinants. Using data on the IPOs of 948...

Due to the ongoing global debate regarding the relationship between fntech and banks, including developing countries, this study aims to investigate this relationship in the case of Vietnam, an emerging nation. The study analyzes the relationship between fntech search and bank stock returns,...

In this paper, we conducted an empirical analysis of the impact of implementation of shareholder perks, which attract small investors, on the risks of Japanese stocks. We tested hypotheses on the impact of implementation of shareholder perks on cost of equity capital, idiosyncratic risk, stock...

The media commonly gauges a firm's performance by comparing its performance to others within the same industry. We provide evidence that investors and analysts positively value improvements to the firm's relative performance ranking (RPR) within its industry. Consistently, RPR is positively...