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What Drives Financial Hedging? A Meta-Regression Analysis of Corporate Hedging Determinants
Geyer-Klingeberg, Jerome - 2019
We examine the drivers of heterogeneity among the determinants of corporate hedging by applying meta …. When breaking the effects down across different world regions, it becomes apparent that the importance of the hedging … risk exposure, the source of the hedging data, the inclusion of relevant control variables, and the journal ranking of the …
Persistent link: https://www.econbiz.de/10012899539
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What Do We Really Know About Corporate Hedging? A Meta-Analytical Study
Geyer-Klingeberg, Jerome - 2018
determinants of corporate hedging reported in 132 previously published studies covering data from more than 73,000 firms. Among the … corporate hedging decisions supporting the bankruptcy and financial distress hypothesis: dividend yield (positive sign … development (positive sign), our findings indicate a weak impact on corporate hedging behavior reflecting tax reasons, the …
Persistent link: https://www.econbiz.de/10012933765
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Rather Complements than Substitutes : Firm Value Effects of Capital Structure and Financial Hedging Decisions
Hang, Markus - 2020
mediates the relation between corporate financial hedging and firm value. In this regard, active risk management positively …, capital structure and financial hedging decisions appear rather as complements instead of substitutes. This implies that … management to carry out profitable projects and research and development activities. Overall, corporate hedging is especially …
Persistent link: https://www.econbiz.de/10012853223
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Financial crime and punishment: a meta-analysis
Batz, Laure de; Kočenda, Evžen - 2020
We examine how the publication of intentional financial crimes committed by listed firms is interpreted by financial markets, using a systematic and quantitative review of existing empirical studies. Specifically, we conduct a meta-regression analysis and investigate the extent and nature of the...
Persistent link: https://www.econbiz.de/10012297534
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Financial crime and punishment : a meta-analysis
Batz, Laure de; Kočenda, Evžen - 2023
We provide the first quantitative synthesis of the literature on how financial markets react to the disclosure of financial crimes committed by listed firms. While consensus expects negative stock price returns, the exact size of the effect is far from clear. We survey 111 studies published over...
Persistent link: https://www.econbiz.de/10014307133
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The moderating role of firm size on financial characteristics and Islamic firm value at Indonesian equity market
Santosa, Perdana Wahyu - In: Verslas : teorija ir praktika : Vilniaus Gedimino … 21 (2020) 1, pp. 391-401
This study aims to understand the moderating role of firm size on financial characteristics and Islamic firm value. Then study how the influence of firm size moderation on the relationship of financial characteristics and corporate governance with firm value. This study uses secondary data from...
Persistent link: https://www.econbiz.de/10012496748
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Excess returns and the distinguished player paradox
Blonski, Matthias (contributor);  … - 2008
Suppose the value of a firm is endogenously determined by a manager's costly effort. We call this manager a distinguished player if he also can trade shares of the firm on a market. Arbitrage-free asset pricing theory suggests that the equilibrium market price reflects the value increasing...
Persistent link: https://www.econbiz.de/10003776197
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Deferred compensation, risk, and company value : investor reactions to CEO incentives
Wei, Chenyang; Yermack, David L. - 2010
Many commentators have suggested that companies pay top executives with deferred compensation, a type of incentive known as inside debt. Recent SEC disclosure reforms greatly increased the transparency of deferred compensation. We investigate stockholder and bondholder reactions to companies’...
Persistent link: https://www.econbiz.de/10008657301
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Are firms in "boring" industries worth less?
Chen, Jia; Hou, Kewei; Stulz, René M. - 2015
Using theories from the behavioral finance literature to predict that investors are attracted to industries with more salient outcomes and that therefore firms in such industries have higher valuations, we find that firms in industries that have high industry-level dispersion of profitability...
Persistent link: https://www.econbiz.de/10010531875
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Bonding, Firm Value and Liquidity : An Analysis of Migrations Between the AIM and the Official List of the London Stock Exchange
Campbell, Kevin - 2011
Firms changing their listing from the less regulated AIM to the more regulated main section of the London Stock Exchange exhibit positive returns on the day the decision is announced, while for firms moving in the opposite direction both announcement and implementation day returns are negative....
Persistent link: https://www.econbiz.de/10013133544