Managerial Finance: Volume 40 Issue 5

The wealth effects of accelerated stock repurchases

Ken C. Yook, Partha Gangopadhyay

The wealth effect of accelerated stock repurchase (ASR) documented by previous studies is not as large as the authors would have expected. The authors believe that there are…

Investment opportunity set, board independence, and firm performance : The impact of the Sarbanes-Oxley Act

Jerry Sun, George Lan, Zhenzhong Ma

The purpose of this paper is to investigate the impact of Sarbanes-Oxley Act (SOX) on high growth firms’ corporate governance. Specially, the study examines whether there is a…

The capital structure of Chinese listed firms: is manufacturing industry special?

Chin-Bun Tse, Timothy Rodgers

The purpose of this paper is to examine whether or not industry membership can explain the leverage of Shanghai listed firms prior to the 2007 financial crisis. In view of the…

Do farmers exhibit disposition effect? Evidence from grain markets

Fabio L. Mattos, Stefanie A. Fryza

The purpose of this paper is to explore the existence of disposition effect among Canadian wheat farmers when marketing their grain. This study examines the question of whether…

After a market panic: cash is king

Garrett C.C. Smith

The purpose of this paper is to examine the effects of financial flexibility as represented by excess cash holdings and debt capacity upon firm returns after periods of high…