This study examines the sources of venture financing of Chinese entrepreneurs in Wuhan, China. Based on a sample of 222, we found that Chinese entrepreneurs in Wuhan mainly rely on venture financing on their own or parties that are within their close social networks such as parents, relatives...

Purpose – Proposes to investigate the current practices of credit risk management by the largest US-based financial institutions. Owing to the increasing variety in the types of counterparties and the ever-expanding variety in the forms of obligations, credit risk management has jumped to the...

Sovereign wealth funds have recently moved to the front and center of discussion, both within the investment world and the political arena. In this paper we evaluate the differences and common features of these funds. Utilizing an ownership database, we probe the ownership, geographic, and...

This study examines the patterns in payout policies worldwide. Utilizing data from a sample of more than 17,000 companies from 33 different countries, we find evidence in support of a significant worldwide decline in the propensity to pay dividends. Most of the decline is due to the payout...

In this study, we examine unsuccessful takeover attempts for new evidence on whether mergers create or destroy value for acquirers and targets. We contribute to the literature in three important areas. First, we contribute to the literature on signaling by investigating whether a takeover...