Results 121 to 130 of about 2,804,731 (214)

Dual‐class shares and capital allocation decisions: Evidence from share repurchases and M&A activities

open access: yesReview of Financial Economics, Volume 44, Issue 4, October 2026.
Abstract This study examines whether dual‐class governance affects how investors and firms respond to major capital allocation decisions. Using U.S.‐listed firms from 2014 to 2025, we analyze share repurchases and M&A transactions in which dual‐class firms act as acquirers or targets.
Bruno Fiesenig   +2 more
wiley   +1 more source

A Litner Model of Payout and Managerial Rents [PDF]

open access: yes
We develop a dynamic agency model where payout, investment and financing decisions are made by managers who attempt to maximize the rents they take from the firm, subject to a capital market constraint.
Bart M. Lambrecht, Stewart C. Myers
core  

Twin Defaults and Bank Capital Requirements

open access: yesThe Journal of Finance, Volume 81, Issue 5, Page 2887-2932, October 2026.
ABSTRACT We examine optimal capital requirements in a quantitative general equilibrium model with banks exposed to nondiversifiable borrower default risk. Contrary to standard models of bank default risk, our framework captures the limited upside, but significant downside risk of loan portfolio returns.
CATERINA MENDICINO   +4 more
wiley   +1 more source

Board Tenure, Sustainability Committees and CEO Duality: Evidence on ESG Performance

open access: yesBusiness Strategy &Development, Volume 9, Issue 3, September 2026.
ABSTRACT This study examines the association between board tenure, sustainability committees, CEO duality and environmental, social and governance (ESG) performance among Hong Kong‐listed firms from 2007 to 2024. Drawing on stakeholder–agency and resource dependence theories, we argue that board experience, formal sustainability governance structures ...
Yeuthong Tham, Zhiyue Sun
wiley   +1 more source

The Effect of Price Earning Ratio, Debt to Equity Ratio, Dividend Payout Ratio on the Value of the Company the Financial Sector Banking Sub-Sector Listed on the IDX

open access: yesIndonesian Interdisciplinary Journal of Sharia Economics
This study aims to examine the effect of price earning ratio, debt to equity ratio, and dividend payout ratio on the value of the company in the financial sector banking Sub sector listed on the Indonesia Stock Exchange.
Gustindy Reza Akbar, Fuad Ramdhan Ryanto
doaj   +1 more source

Tax Policy and the Dividend Puzzle [PDF]

open access: yes
This paper offers a new explanation of the dividend puzzle, based upon a model in which firms attempt to signal profitability by distrubuting cash to shareholders.
B. Douglas Bernheim
core  

Takeover Vulnerability and the Discipline of ESG Overinvestment

open access: yesBusiness Strategy and the Environment, Volume 35, Issue 6, Page 9048-9081, September 2026.
ABSTRACT While takeovers serve a disciplinary role by replacing inefficient managers, the threat of takeovers may compel firms to divert attention from Environmental, Social and Governance (ESG) efforts as a strategic response to external pressure, especially when such firms are already overinvesting in ESG.
Abongeh Tunyi   +2 more
wiley   +1 more source

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