The present paper calculates systematic risk within the context of the Capital Asset Pricing Model in order to investigate the significance of financial leverage. It develops a multinomial model with two theoretically predicted targets in the unleveraged/leveraged process, namely the proxy...

Using generalized impulse response functions, this study tests for the trade J-curve for three transitional central European countries - the Czech Republic, Hungary, and Poland - in their bilateral trade with respect to Germany. Our findings suggest that for each country there are some...

Muchos consultores, autores y profesores de Finanzas incluyen los cambios en losactivos liquidos (dividendos potenciales") en los flujos de caja. Esta practica escontraria a la teoria basica de las finanzas. Presentamos razones economicas, teoricas, yempiricas para apoyar la tesis. Por lo tanto,...

Based on a theoretically correct model we examine the value the market assigns to different components of the cash flow to equity including potential" dividends. We study publicly traded firms from five Latin American countries: Argentina, Brazil, Chile, Mexico and Peru during the period...

Muchos consultores, autores y profesores de Finanzas incluyen los cambios en los activos liquidos (dividendos “potenciales”) en los flujos de caja. Esta practica es contraria a la teoria basica de las finanzas. Presentamos razones economicas, teoricas, y empiricas para apoyar la tesis. Por...