Results 51 to 60 of about 227 (137)
A U‐Shaped Flow–Performance Sensitivity Across the Globe
European Financial Management, EarlyView.ABSTRACT Using a worldwide sample of equity mutual funds, we document a new stylized fact: the flow‐performance sensitivity (FPS) is greater for both bottom and top performance, compared to the middle. This “U‐shaped” FPS is especially strong in down markets, for small/mid‐cap funds, and in the latest decade. These results hold over quarterly or yearly
Markus Broman, Kelley Bergsma Lovelace
wiley +1 more source
Brand Equity and Debt Diversification
Financial Management, EarlyView.ABSTRACT This study examines how brand equity influences the diversity of firms’ debt structures. We propose that brand equity, by signaling larger and more stable future cash flows and greater product market awareness, alters the fundamental trade‐offs that drive optimal debt type diversity.
David C. Mauer +2 more
wiley +1 more source
Are CSR incidents truly bad news?
Journal of Financial Research, EarlyView.Abstract We revisit whether disclosures of negative Corporate Social Responsibility (CSR) incidents adversely affect firms' stock prices. While univariate tests reveal significant negative abnormal returns around incident announcements, the effect disappears once firm characteristics, industry, and time‐fixed effects are controlled for.
Chen Chen +2 more
wiley +1 more source
Why do firms strategically delay payments of corporate loans?
Journal of Financial Research, EarlyView.Abstract Firms may prefer to delay some loan payments while continuing to service others because of lender and loan characteristics. I explore the impact of bank‐level and bank‐firm‐level indicators on the strategic delay behaviors of nonfinancial corporations. Three factors play a key role in their strategic delay decisions.
Ahmet Deryol
wiley +1 more source
Bank Opacity and Safe Asset Moneyness
Journal of Money, Credit and Banking, EarlyView.Abstract A bank is more effective as a supplier of money‐like safe assets when (i) its return on equity (ROE) is relatively lower and (ii) it is relatively more opaque about its balance sheet. A model is presented to support this, emphasizing that safe asset investors focus on the left tail of the collateral value distribution.
SANG RAE KIM
wiley +1 more source
China's practical wisdom: Assumption of liability for endangering public health in bankruptcy proceedings-A case study of the Changchun Changsheng Biotechnology vaccine incident and the Johnson & Johnson baby powder incident. [PDF]
Front Public Health, 2022 Huang C.
europepmc +1 more source
Journal of Money, Credit and Banking, EarlyView.Abstract We evaluate whether deposit insurance (DI) promotes liquidity by influencing depositor behavior. We use the postal savings (PS) system and state‐adopted DI schemes during the 1920s to examine the effect of bank suspensions on PS deposit growth in pairs of border cities (DI versus non‐DI).
Lee K. Davison, Carlos D. Ramirez
wiley +1 more source
Twin Defaults and Bank Capital Requirements
The Journal of Finance, EarlyView.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 Dynamics over the Startup Life Cycle
The Journal of Finance, EarlyView.ABSTRACT We explore the dynamics of venture capital (VC)‐backed startup boards using novel data on director entry, exit, and characteristics. At formation, a typical board is entrepreneur‐controlled. Independent directors join the median board after the second financing and hold a tie‐breaking vote.
MICHAEL EWENS, NADYA MALENKO
wiley +1 more source
Can Small Businesses Survive Chapter 11?
The Journal of Finance, EarlyView.ABSTRACT A majority of small U.S. businesses attempting to reorganize in bankruptcy fail to do so. Subchapter V of Chapter 11 (SubV) streamlines bankruptcy for small firms by reducing bankruptcy costs and negotiation frictions, and enables entrepreneurs to retain ownership.
EDITH HOTCHKISS +2 more
wiley +1 more source