The present study aims to provide a model for financing buyer-supplier in Mehrvarzan healthcare Company. The statistical population of the study includes 300 employees of the company. According to Morgan table, 168 people are selected as the statistical sample. Available non-random sampling method has been used. For collecting the required information, the standard buyer-supplier financing ques...

We study the effect of investor horizons on a comprehensive set of corporate decisions. Longterm investors have the means and motive to monitor corporate managers, which generates corporate decisions that are consistent with shareholder value maximization. We find that longterm investors strengthen corporate governance and restrain managerial misbehaviors such as earnings management and financi...

This paper provides causal evidence of flexible operating strategies affecting capital structure of firms. I exploit the appealing setting of the European labor market to show that the use of employment contracts that provide firms with a greater operating flexibility in terms of less costly firing promotes debt financing. I build the identification strategy on the exogenous inter-temporal and ...

The global financial crisis had detrimental consequences for banks’ balance sheets, as well as for their funding costs and profitability, thus weighing negatively on their ability to supply new loans. As a result, banks tightened credit standards for all borrowers, including non-financial corporations. The restricted access to bank funding for the corporate sector induced the latter to seek oth...

We examine the intersection between corporate divestitures of tangible assets and investment in intangible capital (R&D) to provide new tests for the impact financing constraints have on real activity. A positive R&D sensitivity to asset sale proceeds indicates binding financing constraints since cash inflows from tangible asset sales are negatively correlated with productivity shocks and not o...

This paper looks at the effect of shareholder horizon on corporate behavior. In perfect capital markets, corporate behavior should be insensitive to shareholder horizon, but when investment opportunities are not well valued by the market, shareholder horizon matters. We first present a simple framework to show that shareholder horizon should be looked at in conjunction with stock misvaluation. ...

This paper focuses on the inter-relationship between corporate governance, financing of corporate growth and stock market development in emerging countries. It explores both theoretically and empirically the nature of the interrelationships between these phenomena, as well as their implications for economic policy. It concentrates on how corporate growth is financed, an area where the literatur...

Tanaka, Takanori—Corporate governance and the cost of public debt financing: Evidence from Japan This paper explores the relationship between corporate governance mechanisms and the cost of public debt financing in Japan. Using a sample of corporate bonds newly issued in Japan during the period 2005–2008, I find that CEO ownership is associated with higher yield spreads after controlling for ot...

Both market timing and investment-based theories of corporate financing predict underperformance after firms raise capital, but only market timing predicts that the composition of financing (equity compared to debt) should also forecast returns. In cross-sectional tests, we find that the amount of net financing is more important than its composition in explaining future stock returns. In the ti...

We study the financing choices in a broad sample of 3864 mergers and acquisitions (M&A) by European bidders of publicly and privately held targets and over the period 1997-2000. Europe is an ideal venue for studying the importance of corporate governance in making M&A financing choices, given the large number of closely held firms. Furthermore, our dataset allows for a wide range of institution...