According to the firm life cycle theory, companies go through certain behavioral patterns in various stages of their life. A thorough understanding and recognition of these behavioral patterns, new investment in assets and the optimal use of assets can considerably enhance the capital productivity. In the current study, the relationship between the stages of firm life cycle and capital producti...

This paper addresses the issue of biases in the loss reserving process, some of which may be intentional. Using an empirical analysis of data from 169 companies over a seventeen year period, it is observed that the level of loss reserves exhibits cyclical behaviour, is different for companies of different sizes and is different for reinsurers than for direct insurers. Furthermore, after these f...

Due to real estate and financial industry respectively characterized by strong and weak periodicity, this article aiming to investigate which kind of cyclical industry in the listed companies will Price/Earnings (PE) and Price/Book value (PB) be more suitable for evaluating selects the data of Shenzhen Development Bank (SDB) and Vanke A from Feb. 28 1991 to June 3

T he cyclical banks have different behavior than other banks. The structure of the balance sheet in cyclical banks is different from anti-cyclical banks. The cyclical banks have a relationship between leverage growth and asset growth while the other banks have no relationship between asset growth and leverage growth in the banking system. This relationship depends on the structure of...

Most research on the persistence of profits models their evolution as a first-order autoregressive process. We present an alternative framework using structural time series analysis, decomposing the overall series into trend, autoregressive, cyclical and irregular components. A persistence-of-profits taxonomy is introduced, based on the level and slope of the long run trend in the final vector ...

Operating lease of the aircraft gives the airlines ̄exibility in capacity management. However, airlines pay a risk premium to the leasing companies for bearing part of the risks. Therefore, the airlines face a trade-o€ between ̄exibility of capacity and higher costs. This paper develops a model for the airlines to determine their optimal mix of leased and owned capacity, taking into considerati...

Based on the credit bond data issued by listed real estate companies under industry classification standard of China Securities Regulatory Commission from 2018 to 2020, impact mergers and acquisitions (M & A) their default risk is empirically studied counter-cyclical background. The empirical results show that M A strategies will not have a significant bonds alone; pressure slowing economic gro...

© 2002 Canadian Medical Association or its licensors Complaints: (1) A reviewer calls to say he will never review another paper for CMAJ because we accepted a paper he had urged us to reject in view of the authors’ undisclosed and close relationship with a pharmaceutical company. (2) A letter writer complains that we edited her letter so severely that the main point was utterly lost. (3) An aut...