Finance and Accounting: Recent submissions
Now showing items 26-30 of 396
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Should we be conservative or aggressive? SME managers’ responses in a crisis and long-term firm survival
(Wiley / Society for the Advancement of Management Studies, 23 August 2023)Past research shows that during a crisis, managers of publicly-held firms often adopt a “conservative” approach focused on protecting the existing core of their firms by decreasing investments and hoarding precautionary ... -
Bank dividend payout policy and debt seniority: Evidence from US banks
(Wiley, 7 August 2023)Bank depositors and creditors are expected to play an important role in banks’ dividend policy since they can either discipline or incentivise managers to pay larger dividends. We provide evidence suggesting that depositors ... -
On the (almost) stochastic dominance of cryptocurrency factor portfolios and implications for cryptocurrency asset pricing
(Wiley, 1 June 2023)Cryptocurrency returns are highly nonnormal, casting doubt on the standard performance metrics. We apply almost stochastic dominance, which does not require any assumption about the return distribution or degree of risk ... -
Illiquidity, R&D investment, and stock returns
(Wiley / The Ohio State University, 9 April 2023)We propose a dynamic model of research and development (R&D) venture, which predicts that the positive relation between the firm's R&D investment and the expected stock returns strengthens with illiquidity. Consistent with ... -
Employee Satisfaction, Labor Market Flexibility, and Stock Returns Around the World
(INFORMS, 31 August 2023)Studying 30 countries, we find that the link between employee satisfaction and stock returns is significantly increasing in a country’s labor market flexibility. This result is consistent with employee satisfaction having ...