The difficulties of the past year have convinced many observers that current risk management practices are deeply flawed, and that such flaws have contributed greatly to the current financial crisis. In this paper, the author challenges this view by showing the need to distinguish between flawed assessments by risk managers …
A Practitioners’ Guide to Leverage through Downturns
2 months ago Number 1, Winter 2021, Volume 33There is extensive research addressing questions of optimal capital structure. Studies typically focus on estimating the appropriate level of debt …
Should Shareholders Have a Say on Acquisitions?
2 months ago Number 1, Winter 2021, Volume 33Shareholders of U.S. corporations have lost billions of dollars in acquisitions they never approved. In the United Kingdom, the listing …
Implications of Short Selling for Corporate Finance
2 months ago Number 1, Winter 2021, Volume 33Corporate managers often view short sellers as market manipulators whose actions drive their company’s stock price below intrinsic value. But …
The Pragmatic Theory of the Firm
2 months ago Number 1, Winter 2021, Volume 33Four key ideas provide the foundation for the pragmatic theory of the firm, which is expecially useful for managements and …
Making Economics More Useful: How Technological Eclecticism...
2 months ago Number 1, Winter 2021, Volume 33Keynes thought it would be “splendid” if economists became more like dentists. Disciplinary economics has instead become more like physics …
A Practitioners’ Guide to Leverage through Downturns
2 months ago Number 1, Winter 2021, Volume 33There is extensive research addressing questions of optimal capital structure. Studies typically focus on estimating the appropriate level of debt …
The Relationship between Shareholder Return and CEO...
2 months ago Number 1, Winter 2021, Volume 33The author reports the findings of his examination of the relationship between CEO pay and performance, as measured by shareholder …
Value-Added Per Share (VAPS): A Value-Relevant Corporate...
2 months ago Number 1, Winter 2021, Volume 33The authors introduce Value Added Per Share (VAPS) as a value-relevant metric that is intended to complement earnings per share …
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Featured Posts
Is Economic Growth Good For Investors?
2 years ago Number 3, Summer 2012, Volume 24When measured over long periods of time, the correlation of countries’ inflation- adjusted per capita GDP growth and stock returns …
Capital Deployment Roundtable: A Discussion Of Corporate...
2 years ago Number 4, Fall 2014, Volume 26U.S. companies are now reportedly earning record-high operating returns on capital while at the same time continuing to set new …
Risk Management Failures: What Are They And...
2 years ago Number 4, Fall 2008, Volume 20The difficulties of the past year have convinced many observers that current risk management practices are deeply flawed, and that …