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Outsourcing and financing decisions in industry equilibrium
Kanatas, George; Qi, Jianping - In: Review of finance : journal of the European Finance … 20 (2016) 6, pp. 2247-2271
Persistent link: https://www.econbiz.de/10011803235
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Earnings Management, Financial Leverage, and Cash Flow Volatility : Do Economic Conditions Matter?
Ujah, Nacasius - 2013
How vital are market conditions in determining the behavior of firms? In this paper we explore firm's impetus to manipulate earnings as it relates to their leverage and volatile cash flow positions in economic conditions. Borrowing a forerunner to proxy for pecking order and market-timing...
Persistent link: https://www.econbiz.de/10013092401
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Outsourcing with Long Term Contracts : Capital Structure and Product Market Competition Effects
Teixeira, João C. A. - 2014
outsourcing with long term contracts and outsourcing to the spot market. When outsourcing to the spot market firms are exposed to … price uncertainty, whereas a long term contract allows them to set in advance the outsourcing price. We show that, to the … outsourcing decision involves a trade-off between a positive convexity effect of input price uncertainty under the spot regime and …
Persistent link: https://www.econbiz.de/10013065134
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Outsourcing with Long Term Contracts : Capital Structure and Product Market Competition Effects
Teixeira, João C. A. - 2010
This paper analyzes how capital structure and product market competition affect the firms' choice between outsourcing … with long term contracts and outsourcing to the spot market. When outsourcing to the spot market firms are exposed to price … uncertainty, whereas a long term contract allows them to set in advance the outsourcing price. We show that, to the extent that …
Persistent link: https://www.econbiz.de/10013147574
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Making, Buying and Concurrent Sourcing : Implications for Operating Leverage and Stock Beta
Lambrecht, Bart M. - 2020
We present a real options model of a firm's make-or-buy decision under demand uncertainty. "Making" is subject to decreasing returns to scale, fixed costs and capital investment. "Buying" happens at a fixed price and requires no investment. Three distinct procurement regimes endogenously arise:...
Persistent link: https://www.econbiz.de/10012857579
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Operating Leverage, Profitability and Capital Structure
Chen, Zhiyao - 2017
Operating leverage increases profitability and reduces optimal financial leverage. Thus, operating leverage generates a negative relation between profitability and financial leverage that is thought to be inconsistent with the trade-off theory, but is commonly observed in the data. We...
Persistent link: https://www.econbiz.de/10012974654
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Impact of debt management on profitability of large non-financial firms in Serbia
Milošev, Ivana - In: Ekonomske teme 59 (2021) 4, pp. 461-477
Profitability is substantial for any firm to maintain business and enable long-term sustainability. Firms' decision on indebtedness and capital structure have influence on potentials for prosperity, growth, and development. This study aims to find a new empirical evidence on the influence of...
Persistent link: https://www.econbiz.de/10013266167
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Transaction management : value creation by reducing transaction costs
Butter, Frank A. G. den - 2010
In this era of globalization we see an increase in specialization: the production chain issplit up in more and more parts and the production of these parts is outsourced to thoseplaces in the world where production is relatively cheapest and most efficient. Itimplies that transaction costs,...
Persistent link: https://www.econbiz.de/10011380728
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Outsourcing without cost advantages
Milliou, Chrysovalantou - 2023
both crucial for the emergence of outsourcing. The supplier purposefully avoids industry pro.t maximization to enlarge its …
Persistent link: https://www.econbiz.de/10014340231
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Working capital management and financing decision : synergetic effect on corporate profitability
Ajibolade, Solabomi O.; Sankay, Oboh Collins - In: International journal of management, economics and … 2 (2013) 4, pp. 233-251
Persuaded by the pecking order assumptions, where internal fund is preferred over debt and equity when financing investment projects, this study provided empirical evidence on the interaction between working capital management and corporate debt structure, and the effect of this on corporate...
Persistent link: https://www.econbiz.de/10010224764