منابع مشابه
the relationship between dividend policy with information asymmetry and stock liquidity in tehran stock exchange
the aim of this study is to investigate the relationship between dividend policy with stock liquidity and information asymmetry considering the characteristics of the company as controlling variables in tehran stock exchange. for this purpose, all listed companies in tehran stock exchange as the statistical population was considered during the period 2009 to 2014, that after screening by simple...
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We examine firm valuation with optimal liquidity (retained earnings) and dividend choice under revenue uncertainty that incorporates debt financing and bankruptcy costs. We revisit the conditions for dividend policy irrelevancy and the role of retained earnings and dividends. Retained earnings have a net positive impact on firm value in the presence of growth options, high external financing co...
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We introduce a post-entry liquidity constraint to the standard model of a rm with serially correlated pro tability and an irreversible exit decision. We assume that rms with no cash holdings and negative cash ow must either exit or raise new cash at a transaction cost. This creates a precautionary motive for holding cash, which must be traded o¤ against the liquidity cost of holding cash. We...
متن کاملDividend Tax Capitalization and Liquidity
We provide a new explanation for cross-sectional variation in dividend tax capitalization. Our analysis is twofold. First, we conduct a theoretical analysis that shows that liquidity (illiquidity) mitigates (magnifies) the positive effect of dividend taxes on expected rates of return documented in prior literature. Second, we conduct an empirical analysis centered around the Jobs and Growth Tax...
متن کاملAsset Liquidity and Stock Liquidity
We study the relation between the liquidity of the firm’s assets and the liquidity of financial claims on the assets, thereby linking corporate finance decisions to stock liquidity. Our model highlights an ambiguous relationship. While greater asset liquidity reduces uncertainty regarding valuation of assets-in-place, it increases future investments and the associated uncertainty. The model sho...
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ژورنال
عنوان ژورنال: KnE Social Sciences
سال: 2018
ISSN: 2518-668X
DOI: 10.18502/kss.v3i10.3461