Choosing right IT initiatives to enhance the performance of an Enterprise is critical. Business are required make tough decisions on where to invest their cash while more and more projects compete for the organization’s tight resources. IT executives must present compelling and credible business cases to win corporate approval to secure funds for their projects. A framework for measuring the va...

From the existing literature, it is not clear what effect financing constraints have on the sensitivities of firms’ investment to their cash flow. I propose an explanation that reconciles the conflicting empirical evidence. I present two models: The unconstrained model, in which firms can raise external funds, and the constrained model, in which firms cannot do so. Using low dividends to identi...

Executive summary. The current low-yield environment has led many bond investors to ask whether they should prepare for an eventual rebound in yields by purchasing individual bonds. The potential benefits of this strategy are often exaggerated. More important is that, for most bond investors, bond mutual funds and their exchange-traded fund (ETF) counterparts provide a number of advantages over...

This article looks at key changes impacting on private hospital care: the increasing corporate ownership of private hospitals; the Commonwealth Government's support for private health; the significant increase in health fund membership; and the contracting arrangements between health funds and private hospitals. The changes highlight the often conflicting interests of hospitals, doctors, Govern...

Drawing upon signaling theory and the attention-based view of the firm, we study if signal receivers attend differently to different types of signals when they interact with different firms or operate under different market conditions. Our theorizing and empirical analysis is situated in the context of the follow-on fundraising activities by private equity managers managing a first fund. Using ...

Purpose of the study: The paper aims at finding how effectively the index funds in India are being able to observe the strategy ‘indexing’, setting tracking error as the critical factor. Background of the study: The belief that financial markets are efficient and it is therefore impossible to consistently beat the aggregate market has led to the emergence of passive portfolio management and ind...

Using a sample of 204 UK initial public offerings (IPOs), we empirically analyze the motive for and the timing of IPO decision by examining the determinants of IPO structure. Linked to IPO structure, the determinants of underpricing and the pattern of seasoned equity offerings (SEOs) are also investigated. The data reveal that younger and smaller firms tend to go public primarily for financing ...

During the recent financial crisis, more than 30% of hedge fund managers used their discretion to restrict investor liquidity through the use of “gates” or “side pockets.” Using a database of hedge fund investor interests, this paper is the first to empirically examine the determinants of these discretionary liquidity restrictions (DLRs) and their consequences for hedge fund investors. We find ...