Efficiency and effectiveness for all entrepreneurial firms requires that limited resources be put to their best use. Thus the acquisition of long-term assets is an important decision for any entrepreneurial firm. For hospitals, which have become entrepreneurial to survive in today’s...

Efficiency and effectiveness for all entrepreneurial firms requires that limited resources be put to their best use. Thus the acquisition of long-term assets is an important decision for any entrepreneurial firm. For hospitals, which have become entrepreneurial to survive in today’s health...

We consider situations where the a priori guidance provided by theoretical considerations indicates only that the function linking the endogenous and exogenous variables is monotone and concave (or convex). We present methods to evaluate the adequacy of a parametric functional form to represent...

Short-term financing, e.g., asset-backed commercial paper (ABCP) or repurchase agreements (repo), was prevalent prior to the 2007-2008 financial crises. Banks funded by short-term debts, however, are exposed to rollover risk as the banks are unable to raise sufficient funds to finance their...

This paper examines the long-term wealth effect of 948 share repurchase announcements in the Taiwan market. We also investigate what factors determine the wealth effect of share repurchases. Our findings show that share repurchases induce positive buy-and-hold abnormal returns during the...

This research examines whether dividend changes convey information about future profitability. The difference GMM approach is employed to overcome the heterogeneity and endogeneity problems inherent in dynamic panel data models. Our evidence shows that previous abnormal earnings are a good...