Prediction of stock returns has always been one of the most important issues in finance. Investors have attracted to use of Fama-French Five-Factor Model (FFFFM) as one of the powerful methods for pricing financial assets and predicting the stock returns. This research investigates the predictability of stock returns by including some important firms features namely cash holdings, dividend rate...

As a general branch of project scheduling problems, resource investment problem (RIP) considers resource availabilities as decision variables to determine a level of employed resources minimizing the costs of the project. In addition to costs (cash outflows), researchers in the later extensions of the RIP took payments (cash inflows) received from clients into account and used the net present v...

maximizing economic earnings is the most common goal in cut-off grade optimization of open-pit mining operations. when this is the case, the price of the product has a critical effect on optimum value of cut-off grade. this paper investigates the relationship between optimum cut-off grade and price to maximize total cash flow and net percent value (npv) of operation. in order to visualize this ...

The main approach of this study is to provide solutions to managers, economists, and tax auditors. To have a clearer perspective of the transactional relationships that distress the taxpayer transaction tax also help them to choose the best strategy to improve tax revenue. In this paper the fuzzy Delphi method was used to identify the indicators affecting suspicious bank accounts. The data coll...

I document a positive relationship between excess cash holdings of actively managed equity mutual funds and future fund performance. The difference in returns of portfolios of high and of low excess cash funds amounts to over 2% annually, or approximately 3% after standard risk adjustment. I study whether this difference in performance can be explained by the differences in managerial stock sel...

Using variations in local real estate prices as exogenous shocks to corporate financing capacity, we investigate the causal effects of financial flexibility on cash policies of US firms. Building on this natural experiment, we find strong evidence that increases in real estate values lead to smaller corporate cash reserves, declines in the marginal value of cash holdings, and lower cash flow se...

This paper investigates the connection between market valuation anda type of the merger (stock, cash) using real options setup. I solveexplicitly for the timing and terms of cash mergers in two deferent settingsto demonstrate that cash mergers generally occur at low marketvaluations, whereas stock mergers that may be observed at both low andhigh valuations; the result holds with some dierences ...

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...