We estimate the effect of violent political conflicts on firm inventory purchase decisions using monthly data of 431 clients of a multinational beverage supplier in Mozambique. Firms decrease inventory purchases by up to 19% in response to conflicts occurring within a 10km radius. Small firms...

This study aims to find if a strong Corporate Brand contributes positively to the market value of the firm. The sample in use corresponds to 362 US companies from COMPUSTAT database that were also considered by Fortune in 2002 to construct the America's Most Admired Companies index. The results...

This paper shows how chief executive officer (CEO) characteristics affect the performance of acquirers in diversifying takeovers. When the acquirer's CEO has previous experience in the target industry, the acquirer's abnormal announcement returns are between 1.2 and 2.0 percentage points larger...

This paper shows that q-based measures of the diversification discount are biased upward by mergers and acquisitions activity and its accounting implications. The most common procedure to estimate the discount is to compare a conglomerate's q with that of a benchmark portfolio of focused firms....