Political uncertainty of impeachment upon corporate investment decisions
نویسندگان
چکیده
منابع مشابه
Earnings Quality Based on Corporate Investment Decisions
In this paper, I examine a new approach for measuring earnings quality, defined as the closeness of reported earnings to “permanent earnings,” based on firm decisions with regard to capital and labor investments. Specifically, I measure earnings quality as the contemporaneous association between changes in the levels of capital and labor investment and the change in reported earnings. This appr...
متن کاملCyclical Uncertainty and Physical Investment Decisions
The paper studies the interaction between cyclical uncertainty and investment in a stochastic real option framework where demand shifts stochastically between two different states, each with different rates of drift and volatility. In our setting the shifts are governed by a two-state Markov switching model with constant transition probabilities. The magnitude of the link between cyclical uncer...
متن کاملCorporate Investment Decisions and the Value of Growth Options
Recent applications of real options theory in strategy research have examined investment decisions framed as the purchase or exercise of particular options, but research has yet to offer direct evidence on whether firms actually capture option value from such investments. In this paper, we estimate the proportion of firm value accounted for by growth options and link the growth option value to ...
متن کاملCorporate financing decisions, managerial market timing, and real investment
Both market timing and investment-based theories of corporate financing predict underperformance after firms raise capital, but only market timing predicts that the composition of financing (equity compared to debt) should also forecast returns. In cross-sectional tests, we find that the amount of net financing is more important than its composition in explaining future stock returns. In the ti...
متن کاملDoes auditor regulatory oversight affect corporate financing and investment decisions?
This paper examines the real effects of auditor regulatory oversight on companies’ financing and investing policies. Using the Public Company Accounting Oversight Board’s (PCAOBs) international inspection program as a setting to generate within-country variation in auditor oversight, I find that companies respond to the increase in auditor oversight by issuing additional external capital amount...
متن کاملذخیره در منابع من
با ذخیره ی این منبع در منابع من، دسترسی به آن را برای استفاده های بعدی آسان تر کنید
ژورنال
عنوان ژورنال: Borsa Istanbul Review
سال: 2021
ISSN: 2214-8450
DOI: 10.1016/j.bir.2020.09.007