The relationship between financial leverage and dividend pay-out is very crucial to support the stock market development. The most of the literatures concentrated on the relationship between equity and dividend payout. This study aims to investigate the connection between financial leverage and...

Valuing a firm using the discounted cash flow method (DCF) requires the joint determination of the market value of its equity (MVE) together with the equity risk premium (ERP) the firm should earn, since the latter is part of the discount rate used in the calculation of the MVE. This paper...

This study has aim to examine the validity of Market Timing Theory (MTT) from Baker and Wurgler (2002) in the Indonesian context. The essence of MTT is when the market price overvalued, the firms will take debt financing and otherwise for undervalued condition. MTT is actually the development of...

The paper investigates the impact of capital structure and information asymmetry on the value of companies listed on the Warsaw Stock Exchange. The study was conducted using the ordinary least squares (OLS) method on a sample of 273 companies in 2017 and the GMM dynamic paneldata approach with...

The purpose of this paper is to investigate the effect of stock recommendations in returns for Brazilian public companies. Using data from the I/B/E/S system, we examine the empirical distribution of buy, sell and hold recommendations as well their effect on prices, for the period from January...

Using functional magnetic resonance imaging, we capture neural activity in the ventral striatum — a key area in the human brain's reward processing circuit — of 35 adult investors learning the earnings per share disclosed by 60 publicly traded companies. Before imaging, investors forecasted...