Rationalizing the Value Premium Under Economic Fundamentals and Political Patronage
نویسندگان
چکیده
منابع مشابه
Rationalizing the Value Premium under Economic Fundamentals and Political Patronage
This paper studies the value anomaly in the context of Malaysia, an emerging economy with a top heavy, closely held, and state-owned institutional setting. We attribute the anomaly to the investment pattern of growth firms. Our empirical analysis illustrates that growth firms have a tendency to hoard cash, delaying the undertaking of their growth options, especially in poor economic environment...
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ژورنال
عنوان ژورنال: SSRN Electronic Journal
سال: 2011
ISSN: 1556-5068
DOI: 10.2139/ssrn.1923612