Purpose: This paper aims to develop hedging strategies using both futures and forward contracts and issuing risky debt when financially constrained firms are forced to operate in long horizon. Design/methodology/approach: The authors present a model for developing hedging strategies using both...

Purpose – This study aims to focus on the profitability of momentum trading in the Korean stock market. More specifically, it aims to conduct an examination of the relationship between momentum returns and idiosyncratic volatility (IVol) to determine whether momentum profits can be explained...

Purpose – This study aims to focus on the profitability of momentum trading in the Korean stock market. More specifically, it aims to conduct an examination of the relationship between momentum returns and idiosyncratic volatility (IVol) to determine whether momentum profits can be explained...

I The Institutional Setting for Rate of Return Determination -- 1 Rate of Return in Rate Cases: The Institutional Setting -- 2 Earned Rates of Return, Allowed Rates of Return and the Cost of Capital in a Historical Setting -- II Theory of Rate of Return Determination -- 3 Traditional Models: DCF...

Purpose: This study aims to examine the impact of CEO equity-based compensation (EBC) on employee wages. It also examines the impact of EBC on average employee wages in different industries and business cycles. Design/methodology/approach: The authors use pay-performance sensitivity (PPS) to...