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The dynamics of leverage of newly controlled target firms: evidence after an acquisition
The paper provides insights into how debt overhang issues related to transfers of value to creditors can impact target firms’ financial policy after...
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Exchange Rate Risk Management using Currency Derivatives: The Case of Exposures to Japanese Yen
This paper focuses on managing exchange rate risk associated with a secondary, non-USD exchange rate of Japanese yen (JPY). Employing Korean firm...
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Customer concentration and target price accuracy
The purpose of this study is to examine whether a supplier firm’s customer concentration affects its target price accuracy. We explore the...
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Industry tournament incentives and debt contracting
We test whether industry tournament incentives (ITI) for CEOs influence debt contracting. Measuring ITI as the pay gap between a CEO and the...
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Mutual funds and stock fundamentals
This paper studies abnormal returns to mutual funds from using a firm fundamental trading strategy. We find that the abnormal returns and the Sharpe...
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Information disclosure ratings and stock price crash risk
This research examines the effects of information disclosure ratings (IDR) on firm-specific stock price crash risk. We present evidence that there is...
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Creating shareholder value through ESG engagement
Improving ESG can boost investment returns. The reason is simple: better ESG means healthier firms. Healthier firms trade at higher prices. Hence,...
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Outsourcing as a cooperative game between the CEO and labor: theory and evidence
We develop a model of a cooperative power game between a chief executive officer (CEO) and labor over a proposed corporate outsourcing, and test the...
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The Different Impact of Financial Constraints on Firm-Level Exports in Manufacturing and Service Sector: Evidence from Croatia
Extant studies examine the role of financial constraints on the international activity of the firms. However, they are mostly focused on the...
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Size Effect in Indian Equity Market: Myth or Reality?
This study revisits size effect and its associated issues, in the Indian market, as recent studies question the persistence of size premium in the...
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Board diversity of industry expertise: impacts on strategic change and product markets
We provide evidence that board diversity of industry expertise leads to internal strategic change at the firm level. We base our diversity of...
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Common institutional ownership and mergers and acquisitions outcomes
Institutional owners frequently invest in a diversified portfolio of firms to avoid firm-specific risks. I investigate the particular scenario in...
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Corporate social responsibility and myopic management practice: Is there a link?
A Corporate Social Responsibility (CSR)-myopic firm is one that experiences greater-than-normal operating profits but scores worse in its CSR...
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How Much Does Matter ESG Ratings in Big Pharma Firms Performances?
Given the peculiarities of the pharmaceutical sector and its wide exposure to ESG factors, this chapter aims to verify the possible presence and the...
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Public access to in-house meeting reports and stock liquidity: evidence from China
In this study we analyze the impact of a regulatory change in disclosure on private in-house meetings on stock liquidity. In July 2012, the Shenzhen...
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Assessing the Impact of Policy Uncertainty, Geopolitical Risk, and Sustainable Disclosure on Corporate Performance
This study explores the impact of policy uncertainty, geopolitical risk, and sustainable disclosure (ESG) on corporate performance for the period...
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Industry co-agglomeration, executive mobility and compensation
We find evidence of geographic segmentation in the market for top executives and identify industry co-agglomeration as the primary driver. When top...
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Enterprise Risk Management, Risk-Taking, and Macroeconomic Implications: Evidence from Bank Mortgage Loan Management
We investigate how enterprise risk management (ERM) reshapes firm risk-taking behaviors. Using loan-level data, we find that ERM does not affect bank...
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Corporate carbon footprint and market valuation of restructuring announcements
The call for greener and more sustainable corporate practices triggered a surge in corporate restructuring. In this study, we investigate the impact...
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Foreign capital exposure and firms’ financial reporting behavior: international evidence from equity market openings
When equity markets open to foreign investors, firms in these markets have significant opportunities for attracting foreign capital. Using a set of...
