Abstract From the Fama–French three-factor model, the expected stock return is a negative
function of market value of equity (ie, firm size), and also positive of book-to-market ratio. In …

Современный стратегический менеджмент объясняет конкурентное положение
компании усилиями ее менеджеров по нахождению и построению специфических …

Target and bidder reference points have separate and joint effects on merger deals. A firm
whose stock price is more distant from its 52‐week high reference point is less likely to …

在资本资产定价模型(CAPM) 中, β (系统风险) 是决定资产定价的唯一因素. 以我国A
股上市公司为研究样本, 通过将资产风险β 分解为成长性风险βG 和现有资产风险βA2 个部分 …

This paper tests the degree to which a sustainable relationship exists between financial
leverage and the systematic risk of shareholders under the following capital market …

Este trabajo tiene por objeto el estudio de un caso real de inversión, que consiste en la
expansión de Endesa en Latinoamérica a través de su entrada en el capital de Enersis. El …

We investigate the timing of business expansion. With an indefinite sequence of growth
opportunities that have constant returns to scale, current investment neither displaces nor …

Previous studies have addressed many anomalies that violate the capital asset pricing
model (CAPM). However, recent studies have employed either the reverse-engineering (RE) …

The paper develops a novel econometric approach to estimate abnormal returns and
systematic risk of private equity from observable investment cash flows. The unique features …

Given a non-trivial market price of risk, we study the impact of state-dependent cashflow risk
on the optimal investment policy and on the ensuing value of an unlevered firm that holds …