Corporate finance theory provides both precise and approximate formulas for the maximum growth rate of a firm, typically called the internal growth rate (when no external funds are permitted) and the sustainable growth rate (when the capital structure is held fixed). The assumption in these...

Corporate finance theory provides both precise and approximate formulas for the maximum growth rate of a firm, typically called the internal growth rate (when no external funds are permitted) and the sustainable growth rate (when the capital structure is held fixed). The assumption in these...

We examine whether financial statement note disclosures play an enhanced role in value relevance when managers lose the ability to convey information via financial statement placement discretion. Specifically, we consider the setting of ASU 2011-05, which removed the option for firms to report...

This paper investigates the relation between debt valuation adjustments (DVAs) and top executive compensation in the banking industry. DVAs arise from changes in fair value of liabilities associated with changes in a firm’s own credit standing, and have become a significant income component...

Under SFAS No. 159, U.S. firms have the option to measure debt liabilities at fair value, which results in recognition of unrealized gains and losses from debt valuation adjustments (DVA) when a firm's own credit risk changes. Critics have raised concerns about the counterintuitive income...

Accelerated share repurchases (ASRs) have gained popularity in recent years. At the inception of an ASR, a firm receives most of the shares that would be repurchased at the current stock price. At the completion of the ASR, the repurchase price is adjusted to the average stock price during the...

The absolute value equation (AVE) is a nondifferentiable NP-hard and continuous optimization problem with a wide range of application, including linear programming, quadratic programming, and game theory. The AVE has several solution forms, such as single-peak, multi-peak, and high-dimension. In...

The optimal structure of a sinusoidal wavy plate fin heat sink with crosscut ( SWHS-WC) is determined by an efficient intelligent optimization method based on the Bayesian Optimization (BO) algorithm. The comprehensive thermal performance factor (TPF) is the objective function to associate with...

Our previous research show that BPA promotes the proliferation of uterine leiomyoma cells, and the high-throughput transcriptome sequencing results show that BPA causes changes in the gene expression levels of human uterine leiomyoma cells. After BPA intervention, human uterine leiomyoma cells...