نتایج جستجو برای: leverage effects

تعداد نتایج: 1563929  

Journal: :The Review of Economic Studies 2019

Journal: :SSRN Electronic Journal 2017

Journal: :Journal of Law, Economics, and Organization 2009

2014
Ian A Cooper

We study the leverage of firms making large dividend increases. Over the five years following the dividend increase they raise leverage enough to finance the entire dividend increase for that period with debt. This is not explained by trade-off variables or the pecking order. The effect is greatest for big firms with low-powered incentives, suggesting an agency effect whereby they make large di...

2013
Michael Albert

This work explores the role of executive compensation in determining the capital structure decisions of a firm. CEOs experience a large personal cost of default that interacts through the risk adjusted probability of default with their compensation contract. Since default happens in a particularly costly state of the world for a CEO whose compensation contract consists primarily of pay for perf...

2011
Edward Owens Shuang Wu William E. Simon Anzhela Knyazeva Jerry Zimmerman

We investigate bank holding companies’ window dressing of quarter-end financial leverage through short-term borrowings, and the stock market reaction around the public release of information that can be used to infer such window dressing. We find evidence of downward window dressing of repo and federal funds liabilities that appear material for a large fraction of the sample, particularly among...

Journal: :CoRR 2016
James Hook

The statistical leverage scores of a complex matrix A ∈ Cn×d record the degree of alignment between col(A) and the coordinate axes in Cn. These score are used in random sampling algorithms for solving certain numerical linear algebra problems. In this paper we present a max-plus algebraic analogue for statistical leverage scores. We show that max-plus statistical leverage scores can be used to ...

Journal: :American Economic Journal: Macroeconomics 2017

Journal: :international economics studies 0
mohsen renani nastaran mohammadi دانشگاه صنعتی اصفهان nastaran mohammadi shahram moeeni shahram moeeni

â â â â â â â â â â â  â  abstract â  the foreign exchange market (fx market) accounts for 40% of the total volume of the world’s e-commerce by its own. based on statistics, sometimes up to 90 per cent of the traders lose their total capital in this market just within six months to one year and leave this market. the probability of loss in the fx market can be estimated by probability theory....

2009
Viktor Steiner

We estimate the impact of effective profit taxation on the financial leverage of corporations on the basis of a pseudo-panel constructed from corporate tax return micro data for the period 1998-2001, a period which saw the introduction of a major corporate tax reform in Germany. The financial leverage is measured by the ratio of long-term debt to total capital. Endogeneity of the effective corp...

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