Dividend policy of firm in theoretical finance is one of the most controversial issue, various theories of dividend policy try to explain the dividend behavior of the firm. The dividend distributed by a firm to its shareholder is very different when it is viewed from the perspective of the...

Latin America is the world’s most violent region. The extent of human rights violations in this part of the world amounts to crimes against humanity affecting the most vulnerable populations across the region — that is, historically, culturally, or politically neglected social groups....

According to the EU policy, a future-proof broadband supply for all European households is to be achieved by 2025. There is already a wide range of fibre deployment in Europe. However, the expansion of fibre-based access networks in Europe to date has taken place mainly in large cities. In other...

The article presents an analysis of the provisions of Directives 93/104/EC and 2003/88 and of the case law of the Court of Justice of the European Union, which supports the conclusion that the characteristic features of working time must be cumulatively met so that a time frame falls within this...

Predictions that interstate fresh water disputes will increase in the future have led to a vast body of research on tools and techniques to manage shared freshwater resources so as to prevent such disputes from arising, however relatively little attention has been paid to the need for effective...

"Other" holdings (OH), including cash, are commonly held in nearly all U.S. equity mutual fund portfolios. This paper investigates the portfolio effects of OH beyond their broad liquidity purposes. I document OH positions in mutual fund portfolios, discovering a surprising correlation between OH...

We introduce a new measure of stock misevaluation, 𝑄, which is consistent with the Gordon growth model for firm valuation. In our empirical application, we use 𝑄 to relate analyst forecasts to stock returns and measure the profitability of investment strategies that rely on information in...

Using campaign contributions to measure CEO's political connections, we find that a one standard deviation increase in political connections is associated with a 9% increase in CEOs' annual compensation and a 17% decrease in his pay-performance sensitivity. Political rents increase with the...

Corporate managers tend to preserve cash with an expectation of a worse economy while spend cash to exercise growth opportunities with a favorable economic condition. We hypothesize that there exists a real option component of aggregate corporate cash holdings, serving both functions of...

We uncover significant asymmetric effects of realized jump risks on conditional equity premium. Negative or ``bad'' (positive or ``good'') jumps predict a rising (falling) near-term equity premium. The signed jump risk measures remain statistically significant even when we control for the...