Results 31 to 40 of about 81,723 (45)
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Price Rigidities and Credit Risk
Social Science Research NetworkWe develop a capital structure model in which firms feature differential flexibility in adjusting output prices. Inflexible-price firms have lower profits and higher cash flow volatility, leading in equilibrium to lower financial leverage, shorter debt ...
Patrick Augustin +3 more
semanticscholar +1 more source
Stakeholder Orientation, Product Market Competition, and the Cost of Equity
The Review of Corporate Finance StudiesBy examining required rates of return, we study how shareholders perceive stronger stakeholder orientation arising under the adoption of constituency statutes.
Zhihong Chen, Sichen Shen, Hong Zou
semanticscholar +1 more source
Paying for Expertise: The Effect of Experience on Insurance Demand
Social Science Research NetworkMayers and Smith (1982) argue that one of the main reasons why corporations buy insurance is because insurers have a comparative advantage in providing real services, such as claims administration, monitoring, and loss prevention.
Vaibhav Anand +2 more
semanticscholar +1 more source
Firm-level Climate Change Exposure and Corporate Cash Holdings: Evidence from Asian Countries
Journal of Emerging Market FinanceThis study investigates the correlation between climate change exposure and corporate cash holdings. Using climate change data exposed at the firm level of 804 unique firms between 2002 and 2022 in six Asian countries (Japan, Korea, China, Singapore ...
Huong Le +4 more
semanticscholar +1 more source
Take the Goods and Run: Contracting Frictions and Market Power in Supply Chains
The American Economic ReviewThis paper studies the efficiency of self-enforced relational agreements, a common solution to contracting frictions, when sellers have market power and contracts cannot be externally enforced.
Felipe Brugués
semanticscholar +1 more source
The American Economic Review
Using Canadian administrative data, this paper presents evidence of revenue and productivity spillovers across firms at fine spatial scales. Accounting for the endogenous sorting of firms across space, we estimate an average elasticity of firm revenue ...
Nathaniel Baum-Snow +2 more
semanticscholar +1 more source
Using Canadian administrative data, this paper presents evidence of revenue and productivity spillovers across firms at fine spatial scales. Accounting for the endogenous sorting of firms across space, we estimate an average elasticity of firm revenue ...
Nathaniel Baum-Snow +2 more
semanticscholar +1 more source
Investor Sentiment for Corporate Social Performance
Accounting Review, 2018We document time-varying investor sentiment for corporate social responsibility (CSR) performance. We show that announcements of CSR activities generate positive abnormal returns during periods when investors place a valuation premium on CSR ...
J. Naughton, Clare Wang, I. Yeung
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Tax-avoidance Effect on Investment Inefficiency: An Examination of Agency Theory
Journal of Emerging Market FinanceTax-avoidance activity in firms potentially increases investment inefficiency, arguably due to agency problems in firms. Further, this relationship shows country-wide variation.
T. K. Ajmal +2 more
semanticscholar +1 more source
Specialization and performance in private equity: Evidence from the hotel industry
Journal of Financial EconomicsWe show that PE sector specialists outperform generalists at every stage of the investment life cycle. Using granular data for thousands of U.S. hotels over the last two decades, we document that specialist PEs exert a greater positive influence on more ...
C. Spaenjers, Eva Steiner
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How Do Short-Term Incentives Affect Long-Term Productivity?
The Review of financial studiesPrevious research shows that incentives to meet short-term earnings targets can cause firms to increase share buybacks, leading to cuts in investments and employment.
Heitor Almeida +4 more
semanticscholar +1 more source