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Business Strategy and the Environment, EarlyView.ABSTRACT This study examines whether CEO risk orientation shapes environmental sustainability disclosure (ESD) and how institutional constraints condition this relationship. We argue that environmental disclosure constitutes a strategic exposure decision because greater transparency can increase regulatory scrutiny and stakeholder pressure.
Muhammad Jameel Hussain +3 more
wiley +1 more source
Dividends, stock repurchases and signaling: evidence from U.S. panel data [PDF]
This paper exploits yearly accounting data from 1977 to 1994 to test the relative signaling power of dividends and net stock repurchases. The specification controls for potential agency cost and asset dissipation effects. Specifically, we regress changes
Michael G. Williams, Mark D. Vaughan
core
Estimation of Tobin’s q Investment Function with Respect to Corporate Tax in Iran [PDF]
فصلنامه پژوهشهای اقتصادی ایران, 2004 Tobin’s q model is one of the most important neoclassical investment theories which has been used in various empirical studies. In this paper, using the theory and panel data, the relationship between the investment by the Iranian firms & the corporate ...
Mohammad Ali Falahi, Ali Cheshmi
doaj
Business Strategy and the Environment, EarlyView.ABSTRACT Financial capital is widely recognized as having the potential to provide investments needed for net‐zero transitions. While recent empirical studies reveal that financial digitalization and fintech have changed Chinese banks' loan portfolios and business models, they stem from credit restrictions on heavily polluting enterprises and from ...
Akihisa Mori
wiley +1 more source
Analysis of the sensitivity to discrete dividends : A new approach for pricing vanillas [PDF]
The incorporation of a dividend yield in the classical option pricing model of Black- Scholes results in a minor modification of the Black-Scholes formula, since the lognormal dynamic of the underlying asset is preserved. However, market makers prefer to
Fouad Sahel, Arnaud Gocsei
core
Power identities for Lévy risk models under taxation and capital injections
Stochastic Systems, 2014 In this paper we study a spectrally negative Lévy process which is refracted at its running maximum and at the same time reflected from below at a certain level. Such a process can for instance be used to model an insurance surplus process subject to tax
Hansjörg Albrecher, Jevgenijs Ivanovs
doaj +1 more source
Business Strategy and the Environment, EarlyView.ABSTRACT Adopting a signaling perspective, this study examines whether corporate green patenting reduces the cost of equity by mitigating information asymmetry in capital markets. Using longitudinal panel data from South Korea, we find that green patenting—encapsulating technological innovation related to energy, environmental protection, and climate ...
Jeongdae Yim, Su‐Yol Lee
wiley +1 more source
Did Dividends Increase Immediately After the 2003 Reduction in Tax Rates? [PDF]
The Jobs and Growth Tax Relief Reconciliation Act of 2003 reduces the maximum statutory personal tax rate on dividends from 38.1 percent to 15 percent. This study analyzes dividend declarations in the quarter following passage.
Jana Smith Raedy +2 more
core
Business Strategy and the Environment, EarlyView.ABSTRACT We examine the effect of chief executive officers' (CEOs') career horizons on environmental, social, and governance (ESG) performance and investigate how hard cues influence this performance effect. Our study offers a new perspective of CEO career horizon as a mechanism that enables firms to improve their ESG performance when occupying a ...
Sofia Angelidou +2 more
wiley +1 more source
Why Do Companies Pay Dividends? [PDF]
This paper presents a simple model of market equilibrium to explain why firms that maximize the value of their shares pay dividends even though the funds could instead be retained and subsequently distributed to shareholders in a way that would allow ...
Jerry Green, Martin Feldstein
core