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This paper investigates whether family ownership affects a firm’s cost behavior and profitability. We find that in … cost”). This result is robust to alternative definitions of family firms. The sharp cost reduction of family firms makes …
Persistent link: https://www.econbiz.de/10013404294
The purpose of this paper is to examine the relationship between profitability and sporting performance in European football. Profitability has been rarely studied because it has not been considered an aim of European clubs, in contrast with American clubs. However, the emergence of investors...
Persistent link: https://www.econbiz.de/10012202772
The purpose of this paper is to study the profitability of the 166 non-financial companies of the BSE 200 index with particular emphasis on a pre- and post-recession analysis for the period 2001-2011 with an attempt to link the profitability with the liquidity of the sample firms. The study...
Persistent link: https://www.econbiz.de/10013076769
We develop a firm valuation model with repeated expansion and contraction options to show operating profitability is a proxy for time-varying systematic risk. Relative to riskier assets, the proportionate value of contraction options increase as profitability falls, lowering the firm beta....
Persistent link: https://www.econbiz.de/10013026825
Asset pricing literature shows that higher operating leverage relates to higher expected stock returns (e.g. Novy-Marx (2011)). We show that higher OL explains higher expected stock returns only when returns to scale are high. This finding is new. When returns to scale are high, OL is positive...
Persistent link: https://www.econbiz.de/10013006471
criticized new regulation on the ground that it would enhance the cost of funds for bank borrowers and deteriorate the bank … profitability. In this study, we examine the impact of capital requirements on the cost of financial intermediation and bank … generalized method of moments (GMM) estimator, we find robust evidence that higher bank regulatory capital ratios reduce the cost …
Persistent link: https://www.econbiz.de/10011669026
relationship to size requires untangling cost and profit from decisions about risk versus expected-return because both cost and … episodes of financial distress and they also have an incentive to increase risk to exploit the cost-of-funds subsidy of … profit are functions of endogenous risk-taking. This chapter gives an overview of two general empirical approaches to …
Persistent link: https://www.econbiz.de/10009774419
relationship to size requires untangling cost and profit from decisions about risk versus expected return because both cost and … charters from episodes of financial distress, and they also have an incentive to increase risk to exploit the cost … profit are functions of endogenous risk-taking. This chapter gives an overview of two general empirical approaches to …
Persistent link: https://www.econbiz.de/10011897699
entrepreneur in his role as owner and ultimate decision-maker of the firm. Rothbard conceived owner's rent as separate from profit …
Persistent link: https://www.econbiz.de/10012891965
Exploration-exploitation research to date has understudied the issue of multiple performance dimensions and their potential trade-offs, which leaves the application of its theory to the context of start-ups exposed to blind spots. The importance of acquisition likelihood as a performance outcome...
Persistent link: https://www.econbiz.de/10013243885