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Corporate investment decisions with switch flexibility, constraints, and path-dependency
We model sequential, corporate investment decisions with time-to-build delays, operating scale mode switching, operating constraints, and path...
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Preemptive Financing Arrangements Within Cross-Border Banking Groups: Between Flexibility and Legal Certainty
The Global Financial Crisis has demonstrated that intra-group financing is an important source of capital and liquidity within banking groups. Yet to...
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Reinsurance, debt capacity and financial flexibility
Prior studies conclude that hedging has a positive effect on firms’ debt capacity; however, in the present study, we argue that this relationship is...
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Opioid crisis effects on local firms’ risk
This study investigates the impact of the opioid crisis on local firms’ risk and payout flexibility using a sample of 4094 U.S. firms headquartered...
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Tokenizing assets with dividend payouts—a legally compliant and flexible design
The tokenization of financial assets using blockchain technology is a transformative process that allows for the fractionalization of ownership,...
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Impact of corporate hedging practices on firm's value: An empirical evidence from Indian MNCs
This paper investigates the effect of financial and non-financial hedging on firms' value while mitigating the exchange rate exposure for 97 Indian...
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The Valuation of Artificial Intelligence
AI allows us to think and act humanely and rationally through hardware systems and software programs capable of providing performances that, to an...
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Corporate growth and strategic payout policy
This study investigates the role of corporate growth in corporate payout policies. We define a good signaling firm as a high-growth firm paying...
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An analysis of post-demutualisation in the property–liability insurance industry
Using a quasi-natural experiment, we examine how demutualisation affects demutualised insurers’ capital, organisational flexibility and alignment of...
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Does CEO myopia impede growth opportunities?
We present evidence that the negative impact of CEO short-termism on firm value can be attributed to a sub-optimal exercise of real options....
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Governance through exit: Pension fund reform impact on real earnings management of portfolio companies
Theoretical models predict that the threat of outside blockholder exit can mitigate agency problems and force managers to undertake actions that...
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Conceptualizing a Regulatory Response to Fintech
This chapter develops the core pillars of a regulatory response to fintech against the background of the findings of the previous chapters. It...
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The Valuation of Artificial Intelligence-Driven Startups
Innovative AI startups are newly formed companies with no operating profits and history, and with high growth potential, which usually absorbs a lot...
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Financial statement relevance, representational faithfulness, and comparability
One approach to achieving comparable financial statements is to adhere to identical (or converged) standards, methods, models, and estimates....
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The Early Days of Neobanks in Europe: Identification, Performance, and Riskiness
This paper identifies banks born with a digital business model (‘neobanks’) and examines their performance and riskiness vis-à-vis traditional peers....
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Workplace sustainability or financial resilience? Composite-financial resilience index
Due to the variety of corporate risks in turmoil markets and the consequent financial distress especially in COVID-19 time, this paper investigates...
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The Valuation of Artificial Intelligence
Artificial intelligence allows us to think and act humanely and rationally through hardware systems and software programs capable of providing...
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Digitizing Prosperity: How Digital Finance Transforms Agricultural Incomes in China
The inclusion of digital finance provides vital financial support for rural revitalization and farmer income, and it has emerged as a significant...
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Non-executive employee ownership and financial reporting quality: evidence from Europe
This paper examines the association between non-executive employee shareholding and financial reporting quality. The analysis is conducted using a...
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Conclusion: A Long List of Open Issues
What lessons can be drawn and what can be done to improve the European framework for banking crisis management? The first lesson from the Italian...