Publication Type:Academic Journal

Source(s):Academy of Management Journal. Apr2022, Vol. 65 Issue 2, p371-402. 32p. 1 Diagram, 8 Charts, 4 Graphs.

Abstract:Past research has produced contradictory insights into how prior collaboration between organizations--their relational embeddedness--impacts collective collaborative performance. We theorize that the effect of relational embeddedness on collaborative s...

Publication Type:Academic Journal

Source(s):Journal of Accounting, Auditing & Finance. Apr2022, Vol. 37 Issue 2, p324-351. 28p. 9 Charts.

Abstract:Extant theories suggest that managers may use hedging either to alleviate underinvestment problems caused by costly external financing or to promote overinvestment by circumventing the scrutiny of external capital markets. We empirically investigate th...

Publication Type:Academic Journal

Source(s):Journal of Financial Service Professionals. May2022, Vol. 76 Issue 3, p18-22. 5p.

Abstract:This column provides a point-counterpoint discussion about the use of bonds in client portfolios. As discussed, we agree that bonds can play an important role in generating income, reducing portfolio variance, and optimizing a portfolio's Sharpe ratio....

Publication Type:Academic Journal

Source(s):Review of Financial Studies. Apr2022, Vol. 35 Issue 4, p1643-1681. 39p.

Abstract:We show that constraints can improve financial decision-making by disciplining behavioral biases. In financial markets, restrictions on leverage limit traders' ability to borrow to open new positions. We demonstrate that regulation that restricts the p...

Publication Type:Academic Journal

Source(s):Review of Financial Studies. Apr2022, Vol. 35 Issue 4, p1897-1932. 36p.

Abstract:We examine the impact of creditor control rights on corporate acquisitions. Nearly 75 |$\%$| of loan agreements include restrictions that limit borrower acquisition decisions throughout the life of the contract. Following a financial covenant violation...

Publication Type:Academic Journal

Source(s):Review of Financial Studies. Apr2022, Vol. 35 Issue 4, p2019-2066. 48p.

Abstract:We investigate the effects of opioid abuse on municipal finance. We employ instrumental variables, border discontinuity difference-in-differences regressions, and coarsened exact matching to identify consistent causal effects, while controlling for var...

Publication Type:Academic Journal

Source(s):Review of Financial Studies. Apr2022, Vol. 35 Issue 4, p1813-1867. 55p.

Abstract:This paper analyzes how trading after shareholder meetings changes the composition of the shareholder base. Analyzing daily trades, we find that mutual funds reduce their holdings if their votes are opposed to the voting outcome. Trading volume is high...

Publication Type:Academic Journal

Source(s):Review of Financial Studies. Mar2022, Vol. 35 Issue 3, p1443-1479. 37p.

Abstract:We estimate investor disagreement from synthetic long and short stock trades in the equity options market. We show that high disagreement predicts low stock returns after positive earnings surprises and high stock returns after negative earnings surpri...

Publication Type:Academic Journal

Source(s):Review of Financial Studies. Mar2022, Vol. 35 Issue 3, p1394-1442. 49p.

Abstract:We uncover new return predictability in the cross-section of delta-hedged equity options. Expected returns to writing delta-hedged calls are negatively correlated with stock price, profit margin, and firm profitability, but positively correlated with c...

Publication Type:Academic Journal

Source(s):Journal of Financial & Quantitative Analysis. May2022, Vol. 57 Issue 3, pf1-f5. 5p.