This study reveals that time diversification is not a strategy for risk management at all. At the end of the longer time horizons, age-old experienced gainers discover that they hold only a basket of inferior stocks or a few performing stocks or both. This paper contends that time cannot make a...

The “modern” portfolio theory of the Nobel laureate Professor Harry Max Markowitz has not been too modern now-a-days. Not simply for that investors are not risk-averse but also for that the “risk-free rate of return” is not risk-free at all. The mean-variance returns are not free from...

In examining the adjustment speed in the dynamic capital structure choice of the firms, the present study utilizes a dynamic Partial Adjustment Model (PAM), and extends the work of Drobetz and Wanzenried (2006). The study explores whether firms' recapitalization policy allows dynamic adjustments...

On the query of corporate capital structure dynamics, an inclusive theory that unifies the ‘modern' capital structure theories is pending as yet. A comprehensive capital structure theory should consider the firms' time-state-focus choices over time. Firms' comprehensive capital structure...

The present paper considers the issue of corporate strategic financing choices from the dynamic views, and it puts forward a unifying view, where the view logically argues that the issue of financing decision is a combined choice of the firms' decision set of “time-state-focus”. The view...

How do the intraday stock traders behave in the stock markets? The paper explores the query with the real-time stock trade data for the trade time, the trade price and the trade volume of a few scripts listed in both the BSE and NSE stock markets in India. It also puts forward a theoretical...

Purpose:- In contrast to a 'point of view' theory, a unifying view fits different view points in firms' financing choices. It requires reconciliation of the points of views. We work on that end and examine the same with Indian firms' data empirically.Methods:- Given that CFOs show dynamic...

In the case of sample audit of the medical insurance claims, a complex as well as serious problem arises with the reality of the population characteristics of population error. The present study examines whether sample claims (those the auditors consider by nature or classification) is random or...

The researchers' understandings on the relevance of corporate capital structure decisions have been shifted from the examination of the irrelevance argument to the relevance argument and its different facets. In the literature, the modern theories have overemphasized on the different “points...

In explaining the dynamics of corporate Reserve Debt Capacity (RDC) at its utilization and creation of the high-risk and low-risk RDC by the high-value and low-value firms, the present paper seeks to put forward a new theory in literature. Utilizing the concept of suboptimality at firms' pecking...