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Full-Text Articles in Business
Do Repurchasing Firms Shave Capital Expenditures When Signaling?, Bishal Bc, Yatin N. Bhagwat, Marinus De Bruine
Do Repurchasing Firms Shave Capital Expenditures When Signaling?, Bishal Bc, Yatin N. Bhagwat, Marinus De Bruine
Funded Articles
This paper studies the extent of firm level over- and under-investment in capital projects among firms with excess cash flows. Whereas most prior research looks for either the signaling or free cash flow hypothesis, we find that the motives for share repurchases differ depending on the firm’s concurrent investments in capital projects. Our initial sample contains 3,417 firm-year observations from 1998 through 2014 where we match share repurchasing firm-year observations with non-repurchasing counterparts by 8-digit GICS industry code, by fiscal year, and by size. Using two sample t-tests, we find evidence that consistent with free cash flow explanations over-investment is …
The Timing Of Welfare Payments And Intimate Partner Violence, Lin-Chi Hsu
The Timing Of Welfare Payments And Intimate Partner Violence, Lin-Chi Hsu
Funded Articles
I examine transfer schedules for the Temporary Assistance for Needy Families (TANF) program and find a causal relationship between the time directly after welfare payments and intimate partner violence against women. This study supports the hypothesis that the husband uses threats of violence as an instrument to gain control over the allocation of household resources, and suggests that the increased incidence in physical violence after welfare payments is associated with alcohol use. Additionally, I find that states that pay TANF recipients twice a month do not have this effect on threats of violence. This suggests that smaller, more frequent payments …