Recently added articles from Financial Management:
Should venture capitalists put all their eggs in one basket? Diversification versus pure-play strategies in venture capital.(Report)
Sep 22, 2009; Knill, April ... Managing the different companies in which they invest while at the came time performing portfolio optimization for themselves, venture capitalists position themselves as a pure-play or diversified conglomerate through their cumulative portfolios. I examine the effects of two investment ...
Share repurchases, the clustering problem, and the free cash flow hypothesis.(Report)
Sep 22, 2009; Wang, Chuan-San ... We examine the market reaction to announcements of actual share repurchases, events that cluster both within and across firms. Using a multivariate regression model, we find that the market reacts positively to the events, indicating that these announcements provide additional information ...
Are debt and incentive compensation substitutes in controlling the free cash flow agency problem?(Report)
Sep 22, 2009; Zhang, Yilei ... This paper investigates the governance implications of a firm's capital structure and managerial incentive compensation in controlling the free cash flow agency problem. The results suggest: debt and executive stock options act as substitutes in attenuating a firm 's free cash flow ...
The impact of investment opportunities and free cash flow on financial liberalization: a cross-firm analysis of emerging economies.(Report)
Sep 22, 2009; Chen, Sheng-Syan ... This study undertakes firm-level analysis of investment opportunities and free cash flow in an attempt to explain the source of the wealth effect of financial liberalization for 14 emerging countries. We find that the market's responses to stock market liberalization announcements are more ...
Local effects of foreign ownership in an emerging financial market: evidence from qualified foreign institutional investors in Taiwan.
Sep 22, 2009; Huang, Roger D. ... We examine the local effects of equity ownership by investors who are classified as qualified foreign institutional investors in Taiwan. Our empirical analyses reveal a pronounced foreign ownership effect, whereby stocks with high foreign ownership outperform stocks with low foreign ...
Short selling and the weekend effect for NYSE securities.(New York Stock Exchange)(Report)
Sep 22, 2009; Blau, Benjamin M. ... Using short-sale transactions data, we examine the relation between short selling and the weekend effect. We do not find that short selling is more abundant on Monday than on Friday, even for stocks that have higher Friday returns. We find that short sellers execute marc short-sale volume ...
Derivatives use, information asymmetry, and MNC post-acquisition performance.(multinational corporations)(Report)
Sep 22, 2009; Lin, J. Barry ... We utilize a sample of US acquiring firms that engaged in international M&As to document the effects of corporate derivatives use on post-M&A long-term performance. We find that derivatives users outperform nonusers. Furthermore, we find that acquirers with derivative policies that are ...
Trade receivables policy of distressed firms and its effect on the costs of financial distress.(Report)
Sep 22, 2009; Molina, Carlos A. ... This paper studies the trade receivables policy of distressed firms as the trade-off between the firm's willingness to gain sales and the firm's need for cash. We find that firms increase trade receivables when they have profitability problems, but reduce trade receivables when they have ...
