Stock Price Deviations From Fundamentals Levels: Mis‐Valuation due to Investor Overconfidence?
ABSTRACT We use the Residual Income Valuation Model to obtain fundamental values for sample stocks in six Eurozone markets. We then estimate the deviation between the fundamental values and actual stock prices. Subsequently, we examine whether these deviations can be systematically explained by business cycle trends, trends in local economic sentiment,
Stella N. Spilioti +1 more
wiley +1 more source
FinTech Adoption and ESG Disclosure in Corporate Valuation: Intellectual Capital and Financial Performance Effects on Dividend Policy and Firm Value. [PDF]
Qamruzzaman M, Alomair A, Alomair M.
europepmc +1 more source
Explaining Dividend Policies in Argentina [PDF]
Dividend policy is central to the performance and valuation of listed companies, but the issue still remains scarcely investigated in emerging countries.
Ricardo N. Bebczuk
core
The Impact of Monetary Policy Shocks on Stock Price Crash Risk
ABSTRACT This study examines the impact of monetary policy shocks (MPS) on future stock price crash risk (SPCR), using a sample of US firms from 1995 to 2019. We find that expansionary MPS significantly reduce the likelihood of SPCR, while contractionary MPS show no statistically significant effect on SPCR. These results remain robust after controlling
Shunshun Xu, Haifeng Guo, Yeqin Zeng
wiley +1 more source
The power of ESG in shaping dividend policy: Illuminating the role of financial sustainability in an emerging market. [PDF]
Almulhim AA +4 more
europepmc +1 more source
Inefficient Frontiers: Industry‐Specific Anomalies in Frontier Markets
ABSTRACT In this study we identify low‐risk anomalies affiliated with industry in frontier markets, offering valuable insights for fund managers and investors managing an internationally diversified portfolio. Utilising a two‐beta model—incorporating both market and industry betas—we reveal a distinct low‐beta anomaly with a monthly magnitude of 2.13 ...
Alya Hourani +3 more
wiley +1 more source
Does Dividend Policy Have a Political Dimension? The British Case [PDF]
Dividende, Corporate Governance, Großbritannien, Dividend, United ...
Marc Goergen +2 more
core
International Evidence on the Relationship Between Financial Literacy and Corporate Cash Holdings
ABSTRACT This study is the first investigation of the relationship between corporate cash holdings and financial literacy (FL). We find that a one‐standard‐deviation increase in FL is associated with an 8%–27% reduction in corporate cash holdings, depending on the measure of FL used.
Kenneth Yung +3 more
wiley +1 more source
The Double Dividend Hypothesis and Trade Liberalization [PDF]
This paper studies how simultaneously liberalizing trade and tightening environmental policy affect welfare in a second-best world. We consider a three-good two-factor small open economy.
Smulders, J.A., Sen, P.
core
U.S. Multinational Corporations’ Initial Income‐Shifting Response to the TCJA
ABSTRACT I find U.S. multinational corporations (MNCs) responded to the Tax Cuts and Jobs Act (TCJA) of 2017 by increasing income shifted to foreign sources in the first two years following the effective date. Financially constrained MNCs increased income shifting more, while higher operational uncertainty MNCs increased income shifting less than other
Tyler P. Johnson
wiley +1 more source

