Financial Management Articles, Finance Case Studies, Papers, Ebooks, FM Resources

Academic and practitioner research produces a proliferation of techniques using size and value/growth attributes or factors to judge portfolio performance. We study the relative merits of various most widely-used procedures, such as variants of matched-characteristic ...

A significant and protracted change of corporate law happened in Finland in the 1970s. The change introduced major enhancements to investor protection and, similar to the US Sarbanes-Oxley Act, tightened disclosure rules at the expense ...

We analyze the way a multinational’s approach to centralize or de-centralize its decision structure is impacted by country tax differentials. Within a simple model which focuses on the several conflicting roles of transfer prices in ...

We propose and test a catering theory of nominal stock prices. The theory predicts that when investors place higher valuations on low-price firms, managers will maintain share prices at lower levels, and vice-versa. Using measures ...

The article studies how takeover defenses influence managerial incentives with respect to long term investments, excess liquidity and the amount of debt relative to equity. The article conducts a cross-sectional regression based on a sample ...