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Analyst monitoring and information asymmetry reduction : U.S. evidence on environmental investment

Liu, Lewis - In: Innovation and green development 3 (2024) 1, pp. 1-16

This study examines the connection between analyst coverage and environmental investment using firm-level data from the S&P 500 spanning 2001 to 2022. There is still an unclear and missing piece in the literature of the U.S. evidence investigating the impact of external analysts on monitoring...

Persistent link: https://www.econbiz.de/10014487494

External financing and earnings management : evidence in Vietnam

Phuong Bui; Hai Ngo; Nguyen Khuong Vinh; Nguyen Thanh Liem - In: Cogent economics & finance 10 (2022) 1, pp. 1-16

This paper investigates the effect of external financing on earnings management in Vietnam, a bank-dominated economy. Using a sample of 494 listed non-financial firms from 2009 to 2018, we find that external financing is positively related to earnings management, implying that firms have...

Persistent link: https://www.econbiz.de/10014500393

Remedial role of financial development in corporate investment amid financing constraints and agency costs

Khan, Muhammad Kaleem; He, Ying; Kaleem, Ahmad; Akram, Umair - In: Journal of business economics and management 19 (2018) 1, pp. 176-191

The study investigates the role of financial development in boosting the investment efficiency of firms' investments in China. Using a large sample of firm-level financial data and country level economic data over the period 2004-2015, present study creates a link between financial and real...

Persistent link: https://www.econbiz.de/10012174741

Product liability : detecting potential risks in new product

Castellano, Andrea; Ferro, Gustavo; Zanetti, … - 2023

The central hypothesis of this article is that liability regulation can foster firms' incentives to study the (potential) dangers of their products. We discuss alternative views and develop a formal model to analyze a firm's incentive structure under the application of hindsight liability. We...

Persistent link: https://www.econbiz.de/10014334046

The forward-looking disclosures of corporate managers : theory and evidence

Gropp, Reint; Karapandža, Raša; Opferkuch, Julian - 2016

We consider an infinitely repeated game in which a privately informed, long-lived manager raises funds from short-lived investors in order to finance a project. The manager can signal project quality to investors by making a (possibly costly) forward-looking disclosure about her project's...

Persistent link: https://www.econbiz.de/10011504350

The forward-looking disclosures of corporate managers : theory and evidence

Gropp, Reint; Karapandža, Raša; Opferkuch, Julian - 2016

Persistent link: https://www.econbiz.de/10011506852

Escalation of commitment and CEO departures : theory and evidence

Chulkov, Dmitriy V.; Barron, John M. - In: Journal of business economics and management 22 (2021) 6, pp. 1416-1435

The escalation of commitment process involves a decision-maker continuing commitment to an investment after receiving negative information. This study develops a principal-agent model to explore how escalation decisions are linked with departures of CEOs from the position. With asymmetric...

Persistent link: https://www.econbiz.de/10013257237

Optimal leverage and transparency

Trigilia, Giulio - 2017

I consider the role of firm transparency in shaping its capital structure. In a costly-state-verification model, the optimal capital structure can be implemented by a mixture of debt and outside equity. Consistent with empirical evidence, leverage decreases with both past and expected...

Persistent link: https://www.econbiz.de/10011800836

Hedging with regret

Korn, Olaf; Rieger, Marc Oliver - 2016

This paper investigates corporate hedging under regret aversion. Regret-averse firms try to avoid deviations of their … hedging policy from the ex post best policy, an intuitive consideration if one has to justify one's decisions afterward. The … aversion reduces the hedging of price risk to avoid large regret in the case of increasing prices. The results show that regret …

Persistent link: https://www.econbiz.de/10011539238

Product price risk and liquidity management : evidence from the electricity industry

Chen, Lin; Schmid, Thomas; Weisbach, Michael S. - 2018

operating flexibility and hedging are substitutes for liquidity management …

Persistent link: https://www.econbiz.de/10011963380