Publication Type:Academic Journal

Source(s):Journal of Financial & Quantitative Analysis. Jun2021, Vol. 56 Issue 4, p1127-1162. 36p.

Abstract:We study whether firms spread out debt-maturity dates, which we call granularity of corporate debt. In our model, firms that are unable to roll over expiring debt need to liquidate assets. If multiple small asset sales are less inefficient than a singl...

Publication Type:Academic Journal

Source(s):Journal of Finance (John Wiley & Sons, Inc.). Aug2022, Vol. 77 Issue 4, p1975-2049. 75p.

Abstract:This paper uses surveys to document CFO perspectives on corporate planning, investment, capital structure, payout, and shareholder versus stakeholder focus. Comparing policy decisions today to those 20 years ago, I find that companies employ decision r...

Publication Type:Academic Journal

Source(s):International Journal of Research in Business & Social Science. Jun2022, Vol. 11 Issue 4, p171-182. 12p.

Abstract:This paper explores the inter-connectedness of remittances and financial development and how their associated covariates such as savings, investment, money supply and economic growth are impacted by this relationship. The study employs a panel vector a...

Publication Type:Academic Journal

Source(s):Financial Innovation. 3/9/2022, Vol. 8 Issue 1, p1-26. 26p.

Abstract:This study investigates the role of default options in the relationship between trait anxiety, and decision-making styles and financial decisions. One hundred and ninety-four participants were divided into three groups and subjected to three different ...

Publication Type:Academic Journal

Source(s):Journal of Financial & Quantitative Analysis. Sep2020, Vol. 55 Issue 6, p1915-1945. 31p.

Abstract:Using data from the Stockholm Stock Exchange (SSE), we study the value added by (as distinct from the abnormal returns to) analysts' recommendations. Recommending brokers' clients trade profitably around positive recommendations at the expense of other...

Publication Type:Periodical

Source(s):Bloomberg Businessweek. 8/1/2022, Issue 4750, p21-23. 3p. 1 Chart, 1 Cartoon or Caricature.

Abstract:The article explores the practice called tail-risk hedging or black swan investing as a risk management strategy against catastrophic losses. It explains the classic version of tail-risk hedging in which a money manager places bets on options that are ...

Publication Type:Academic Journal

Publication Type:Academic Journal

Source(s):Review of Financial Studies. Jul2020, Vol. 33 Issue 7, p3250-3306. 57p.

Abstract:We study when and why firms exercise real options. Using detailed project-level investment data, we find that the likelihood that a firm exercises a real option is strongly related to peer exercise behavior. Peer exercise decisions are as important in ...

Publication Type:Academic Journal

Source(s):Journal of Financial & Quantitative Analysis. Aug2020, Vol. 55 Issue 5, p1619-1656. 38p.

Abstract:Firms with lower leverage are not only less likely to experience financial distress but are also better positioned to acquire assets from other distressed firms. With endogenous asset sales and values, each firm's debt choice then depends on the choice...

Publication Type:Academic Journal

Source(s):Journal of Financial & Quantitative Analysis. Jun2020, Vol. 55 Issue 4, p1095-1116. 22p.

Abstract:Intermediation in private equity involves illiquid investments, professional investors, and high information asymmetry. We use this unique setting to empirically evaluate theoretical predictions regarding intermediation. Using placement agents has beco...