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Do Global Financial Markets Capitalise Sustainability? Evidence of a Quick Reversal

Moliterni, Fabio - 2018

This study investigates the growing importance of sustainability in equity markets by estimating whether company commitment to sustainability matters in corporate valuation. The spreading concern for social and environmental issues, and especially for the material risks of climate change,...

Persistent link: https://www.econbiz.de/10012915396

Market Imperfections, Macroeconomic Conditions, and Capital Structure Dynamics : A Cross-Country Study

Kang, Moonsoo - 2018

This article investigates how “systematic” adjustment costs proxied by market imperfections, and macroeconomic conditions affect capital structure dynamics in a cross-country setting. We document substantial variations in firms' capital structure adjustments across countries and,...

Persistent link: https://www.econbiz.de/10012919079

Do Financial Markets Reward Eco-Efficiency?

Trabelsi, Dhoha - 2018

To test whether acquisitions by environmentally high performing firms are associated with superior cumulative abnormal returns (CAR), this study computes industry-adjusted eco-efficiency scores at the firm level, using carbon emission data from the Carbon Disclosure Project for a worldwide...

Persistent link: https://www.econbiz.de/10012920100

The Production of Investment Returns in Spatially Extensive Financial Markets

Clark, Gordon L. - 2014

Investment returns are produced by combining financial assets with human capital, the decision-making protocols of investment institutions, and the electronic infrastructure which supports the flow of information about investment opportunities. At the centre of the production process stand...

Persistent link: https://www.econbiz.de/10013046723

Explaining Top Management Turnover in Private Corporations : The Role of Cross-Country Legal Institutions and Capital Market Forces

Lel, Ugur - 2018

We find that the strength of countries' legal institutions can explain the ability of private firms to identify and terminate poorly performing managers. This finding is consistent with our hypothesis that governance problems in private firms are ameliorated by strong institutions that reduce...

Persistent link: https://www.econbiz.de/10012938429

Microfinance Institutional Growth : How Driven Forces Impact Their Financial Integration?

Kendo, Sandra - 2016

This article analyses the growth of microfinance by examining how some driven forces heighten more or less their financial integration. Three main driven forces identify: agency costs, financial development and trade-off in microfinance. The author samples 542 microfinance institutions. Quantile...

Persistent link: https://www.econbiz.de/10013002225

Snapshot Review of Financial Markets

Abramov, Alexander E. - 2020

in the world's biggest economies, expected for the most part to start from Q2 of this year. Obviously, this piece of news …

Persistent link: https://www.econbiz.de/10012834915

Net operating working capital and firm value : a cross-country analysis

Baños-Caballero, Sonia; García-Teruel, Pedro J.; … - In: Business research quarterly : BRQ 23 (2020) 3, pp. 234-251

Here, we use a sample of firms from 30 countries during the period 1995-2013 to examine the relationship between net operating working capital (NWC) and firm value. Specifically, we show that the value of NWC varies across countries and that it depends on both investor protection and a country's...

Persistent link: https://www.econbiz.de/10012297881

Financial Development and Export Concentration

Unger, Florian - 2023

This paper analyzes the impact of financial development on export concentration. I incorporate credit constraints into a trade model with heterogeneous exporters and endogenous quality choice. The model predicts that financial development increases innovation activity and export shares of larger...

Persistent link: https://www.econbiz.de/10014255423

Regulation of financial risks in emerging markets : past, present, and future

Arkhipov, Artem; Arkhipova, Natalia; Karminsky, Alexander - In: Risk assessment and financial regulation in emerging …, (pp. 33-64). 2021

banking regulation in the world, precise requirements and scope were reformed and implemented in response to crises and global … the paradigm from partial improvements under financial liberalization regime to a world-wide regulation tightening on the … basis of close coordination between regulators and supervisors in the world. The role of the G-20’s Financial Stability …

Persistent link: https://www.econbiz.de/10012591641