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interwar Australia. This period saw an increase in the number of large-scale firms in mining, manufacturing, and a wide range …
Persistent link: https://www.econbiz.de/10013134112
We hypothesize a reciprocal causation between crop insurance use and the economic performance of farms in an environment characterized by imperfect financial markets and farms’ budget constraints. To test our hypothesis, we apply a system of simultaneous equations consisting of economic...
Persistent link: https://www.econbiz.de/10011538356
explore the relationship between asset growth, investment, and cash flow and find that firms use all available internal funds …
Persistent link: https://www.econbiz.de/10013096184
This book presents a new approach to the valuation of capital asset investments and investment decision … a project's economic profitability and efficiency, how to assess the impact of investment policy and financing policy on …
Persistent link: https://www.econbiz.de/10012840007
This paper builds on Rosen (1981) and Hvide (2002) to provide a simple framework that elucidates the nature of incentives in the tournaments among top executives in both the external managerial labor market for the top executive positions in other companies and within the executives' own firm...
Persistent link: https://www.econbiz.de/10012842651
We evaluate the link between CEO industry tournament incentives (ITI) and the product market benefits of corporate liquidity. We find that ITI increase the level and marginal value of cash holdings. Furthermore, ITI strengthen the relation between excess cash and market share gains especially...
Persistent link: https://www.econbiz.de/10012942252
gap is reliably and positively associated with firm performance and risk and with the riskiness of investment and …
Persistent link: https://www.econbiz.de/10012975384
and payroll expenses in 761 European technology companies from the year of initial venture capital investment up to seven …
Persistent link: https://www.econbiz.de/10013008741
, we propose that investment analysts, as legitimate third party evaluators of the firm and its leadership, provide … the CEO's efficacy. In addition, the board tends to respond to investment analysts because their stock recommendations … the 2002 litigation against investment analysts led to a reduction in their credibility; consequently negative analyst …
Persistent link: https://www.econbiz.de/10012857436
This paper investigates investment behavior across public and privately held firms using a novel firm-level dataset. We … invest more than their non-listed counterparts. In addition, their investment decisions are significantly more sensitive to … changes in investment opportunities, and they respond more aggressively. These results constitute evidence rejecting the …
Persistent link: https://www.econbiz.de/10013184083