We investigate whether industry differences influence how quickly New Zealand firms adjust towards target debt ratios between 1984 and 2009. We employ two-step and integrated partial adjustment models, and use measures of both book and market leverage. Our first significant finding is that...

This article examines the change from conventional pen-and-paper to computer-based formative assessment for a large second year Business Finance course. A brief history of the course's formative assessment, its weaknesses and challenges for the effective administration of the course are...

We examine the stock dividend puzzle in China during 1992-2008 by analysing the market reaction, who pays more or solely stock dividends compared to cash dividends and why. In general, stock dividends send a positive market signal which is stronger for larger stock dividends and simultaneous...