Finance and Financial Management Commons^™

Three Essays On Capital Structure And Cross-Listing, Saeed Ghasseminejad

Dissertations, Theses, and Capstone Projects

This dissertation includes three chapters. Chapter one examines the effect of economic sanctions on firms and financial markets. Chapter two studies the effect of culture on cross-listing and CEO turnover. Chapter three looks at how geography influences capital structure.

Chapter 1 This paper is the first comprehensive analysis of economic sanctions and measures the effect of imposing and lifting sanctions on the target country's exchange-listed, publicly traded firms and examines how the impact of sanctions on deep state-owned firms differs from their impact on other firms. The paper uses the case of Iran because of its developed financial markets, the …

Essays On Institutional Ownership And Corporate Finance, Qijian Wang

Dissertations, Theses, and Capstone Projects

This dissertation consists of three chapters that span earnings management, innovation, and insider trading.

Chapter 1: Prior literature finds that earnings management is negatively correlated with institutional ownership. The question is whether institutional investors drive down earnings management of the firms they invest in, or they choose firms with lower earnings management. In this paper, I use the regression discontinuity design around Russell 1000 and 2000 indexes reconstruction to obtain an exogenous variation in institutional ownership. I find that institutional investors do not drive down earnings management after they become shareholders. Instead, institutions choose firms with lower earnings management level …

Mlb Rule Iv Draft: Valuing Draft Pick Slots, Anthony Cacchione

Dissertations and Theses

This study explored the Net Present Value (NPV) in dollar terms of draft pick slots in the Major League Rule IV Draft. In order to accomplish this, the cumulative performance of players selected in each slot within the draft was evaluated and brought to the Present Value of the time they were selected using a discount rate. The performance of the players was determined using the baseball-reference Wins Above Replacement (WAR) metric. It is intuitive that earlier draft picks are the most valuable; however, it is unclear how quickly the value of draft picks decline. This research demonstrates that the …