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Full-Text Articles in Business
Corporate Leverage, Constraints, And Compliance, Abdullah Khaled Alnamlah
Corporate Leverage, Constraints, And Compliance, Abdullah Khaled Alnamlah
University of New Orleans Theses and Dissertations
The first chapter evaluates the zero-leverage effect on firms' financial constraints. Moreover, using investment- and cash-to-cash-flow sensitivities as financial constraint indicators, the results suggest that unleveraged firms are expected to face lower constraints relative to leveraged firms. Lastly, the results indicate that the zero-leverage effect on firms’ financial constraints is more likely stronger for smaller firms, zero-dividend firms, firms with lower proportions of tangible assets, and growth firms. The second chapter develops a new quantitative measure that reflects the extent to which a firm complies to Shariah relative to the other firms located in a certain region at a certain …
The Impact Of Intangible Capital And Diversity Reputation On Firm Performance, Makeen Huda
The Impact Of Intangible Capital And Diversity Reputation On Firm Performance, Makeen Huda
University of New Orleans Theses and Dissertations
This dissertation examines the effects that intangible capital and diversity reputation have on firm performance. In Chapter 1, entitled “CEO Overconfidence and Intangible Corporate Investments,” we extend the corporate investment and CEO overconfidence literature by examining how CEO overconfidence affects investment-cashflow sensitivity using a new measure of Tobin’s q and cashflow. Specifically, we incorporate intangible capital, which neo-classical investment theory mostly ignores, in the empirical analysis. We develop three overconfidence measures and their interaction with the respective standard and new cashflow settings to capture the investment-cashflow sensitivity effect of CEO overconfidence. We use three investment measures (physical, intangible, and total …
State Ownership, Firm Specific Risk And Momentum Trading, Saeed Nassir Algahtani
State Ownership, Firm Specific Risk And Momentum Trading, Saeed Nassir Algahtani
University of New Orleans Theses and Dissertations
The dissertation consists of two essays. In the first essay, we investigate the relation of government ownership to the idiosyncratic volatility of Saudi Arabian firms that traded in the Saudi stock exchange between 2010 and 2016. The results show that publicly traded firms with an increase in government ownership have less idiosyncratic volatility. Furthermore, we investigate market leverage ratio, dividend payout ratio, and illiquidity ratio as potential roles in which government ownership influences the idiosyncratic volatility. The results prove the negative relationship between government ownership and idiosyncratic volatility. In the second essay, we investigate the association between government ownership and …