Foreign ownership and firm-level stock return volatility in Taiwan

Firm headquarters location, ownership structure, and stock return co-movements

Article history: Received 1 September 2013 Accepted 13 August 2014 Available online 20 August 2014 This paper investigates the link between firm headquarters location and its stock return co-movements in a full sample of Chinese listed firms from 1999 to 2007. The empirical results show a significant stock return co-movement pattern for firms located in the same province. And both firm-level fa...

Firm Volatility and Stock Option Incidence

In this paper, I present two models that describe the relationship between stock option incidence and stock price volatility. First, I present an industry-clockspeed human resources (HR) model. Firms in industries where products obsolesce quickly will grant stock options to motivate employees to exert high e.ort and shorten the product development cycle, which increases volatility of .rm perfor...

Stock Return Volatility and Capital Structure Decisions∗

We comprehensively examine the effects of stock return volatility on firms’ financial and investment decisions. Consistent with theories of investment with financing frictions, firms with high volatility actively reduce their leverage, cut investment, increase cash holding, cut non-cash current assets such as inventories and account receivables, and cut dividend. The effects of volatility are s...

Information Systems and Stock Return Volatility

Measuring Information Systems (IS) value has been constantly attracting much attention and debate within the IS research community. Since information systems effects are often difficult to quantify, traditional payoff evaluation methods often yield conflicting results. In this paper we suggest that some information systems can be evaluated on the basis of their effect on stock return volatility...

R&D, Patents and Stock Return Volatility