نتایج جستجو برای: marginal value of cash holdings
تعداد نتایج: 21194787 فیلتر نتایج به سال:
chapter one is devotod to collect some notion and background informations, which are needed in the next chapters. it also contains some important statements which will be proved in a more general context later in this thesis. in chapter two, we show that if the marginal factor-group is of order np1...pk,n>1, then we obtain a bound for the order of the verbal subgroup. also a bound for the bear-...
We study the implications of financial hedging for corporate cash policy and value holdings. Using a web crawler program to collect data on use derivatives between 1993 2016, we find that US public firms with programs have smaller reserves but higher than without contracts in place. Our empirical results are robust when controlling potential endogeneity issues, governance, regimes alternative m...
We establish the fundamental theorem of asset pricing to a model with proportional transaction costs on trading in shares and different interest rates for borrowing and lending of cash. We show that such a model is free of arbitrage if and only if one can embed in it a friction-free model that is itself free of arbitrage, i.e. if there exists an artificial friction-free price for the stock betw...
insurers have in the past few decades faced longevity risks - the risk that annuitants survive more than expected - and therefore need a new approach to manage this new risk. in this dissertation we survey methods that hedge longevity risks. these methods use securitization to manage risk, so using modern financial and insurance pricing models, especially wang transform and actuarial concepts, ...
Using data from 41 countries, we provide novel empirical evidence that firms’ cash holdings are positively associated with their climate change exposure. This is robust to different model specifications and survives a battery of tests ease concerns related spurious correlation omitted variable bias. the release Stern Review as an exogenous shock awareness, show this association becomes signific...
holding cash is a matter of managerial discretion. theaim of this paper is to contrast the effect of accruals quality on cashholding for a sample of 120 firms listed in the tehran stock exchangeduring 2001-2011.the results show that firms with good accruals quality hold lower cashlevels than firms with poor accruals quality. this result conform thefindings of teruel & solano (2009), which state...
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