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PIPEs, firm investment, and viability
Using 2342 PIPEs, we investigate the intended use of funds and its relation to firm characteristics and issue outcomes. We find that a slight...
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Accounting conservatism, corporate diversification and firm value
This study investigates the impact of conservative financial reporting on corporate diversification, in order to explore whether accounting policy...
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Dance with wolves: firm-level political risk and mergers and acquisitions
While previous studies primarily use economy-wide indicators for political risk, Hassan et al. (Quart J Econ 134(4):2135–2202, 2019) propose that a...
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Firm-level investor favoritism and the external financing and capital expenditure anomalies
Prior literature documents a positive (negative) relation between past (future) stock returns and both external financing and capital expenditures....
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Bank Risk and Firm Investment: Evidence from Firm-Level Data
Is higher bank risk-taking associated with more firm investment? Combining firm- and bank-level data, we examine the relation between bank risk and...
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Financial Derivatives Usage and Firm Value in Turbulent Periods: Comparative Evidence from India during the COVID-19 Crisis
This study delves into the ramifications of financial derivatives usage on the firm value among Indian non-financial firms, covering both the...
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Bank Information and Firm Growth: Microeconomic Evidence from the US Credit Market
We examine the effect of bank information on the growth of borrowing firms by using matched bank-firm data from the US credit market. Exploiting the...
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Employee treatment and firm performance: evidence from topic modelling in lawsuit announcements
This study uses a machine learning technique to assess whether employee lawsuits are informative in predicting firm performance. Using a Bayesian...
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The dynamic relation between board gender diversity and firm performance: the moderating role of shareholder activism
California became the first state in the US to require gender diversity on publicly corporate boards. To provide timely evidence on the heated...
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De-risking pension plans: the impact on firm value from lump-sum buyouts
Firms have attempted to de-risk their pension obligations by offering its pension beneficiaries a lump-sum distribution instead of the guaranteed...
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Does derivative usage boost firm value in an economy with controls? Evidence from India
The role of derivatives on firm valuation has recently become a subject of intense debate for emerging markets where there is greater asset price...
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Firm-level political risk and corporate tax avoidance
This study investigates whether firm-level political risk increases managers’ propensity to avoid taxes. Using a measure of firm-level political risk...
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Trade credit and firm investments: empirical evidence from Italian cooperative banks
By exploiting a unique and proprietary panel dataset comprising 6480 Italian SMEs having a relationship with 99 cooperative banks over the period...
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Firm life cycle stages and earnings management
We provide evidence that the differences in economic growth and stability of firms during different stages of their life cycle encourage managers to...
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Uncertainty in firm valuation and a cross-sectional misvaluation measure
The degree of uncertainty associated with the value of a company plays a relevant role in valuation analysis. We propose an original and robust...
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Technology investments and firm performance under the wave of InsurTech
This study explores how the technology investments of a sample of U.S. property-liability insurers affected their performance during the InsurTech...
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Does firm-level political risk affect cash holdings?
We investigate whether firm-level political risk affects corporate cash holdings. Taking a sample of 5424 US firms with 129,750 firm-quarter...
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Microinsurance in Ghana: investigating the impact of Outreville's four-factor framework and firm and product characteristics on adoption
Microinsurance is a risk management tool for low-income households. However, its adoption is low in Ghana. This study examines the determinants of...
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Working capital financing and firm performance: a machine learning approach
Companies always try to balance the risk and return on their investments, finances, and daily operations. This study presents the moderating role of...
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Partisan political connections, ethnic tribalism, and firm performance
This paper investigates the impact of partisan political connections and ethnic tribalism on firm performance in a hyper-partisan political...