Abstracts - faqs.org

Abstracts

Business

Search abstracts:
Abstracts » Business

Internal capital markets and the competition for corporate resources

Article Abstract:

This article examines the role of corporate headquarters in allocating scarce resources to competing projects in an internal capital market. Unlike a bank, headquarters has control rights that enable it to engage in "winner-picking" - the practice of actively shifting funds from one project to another. By doing a good job in the winner-picking dimension, headquarters can create value even when it cannot help at all to relax overall firm-wide credit constraints. The model implies that internal capital markets may sometimes function more efficiently when headquarters oversees a small and focused set of projects. (Reprinted by permission of the publisher.)

Author: Stein, Jeremy C.
Publisher: Blackwell Publishers Ltd.
Publication Name: Journal of Finance
Subject: Business
ISSN: 0022-1082
Year: 1997
Finance, Capital market, Capital markets, Corporations, Corporate finance, Resource allocation

User Contributions:

Comment about this article or add new information about this topic:

CAPTCHA


Bad news travels slowly: size, analyst coverage, and the profitability of momentum strategies

Article Abstract:

Specific information about the value of a firm's stocks, especially negative information, tends to spread slowly among the investing public. Momentum profitability declines with firm size, momentum strategies work best with stocks with low analyst coverage, and stocks that have significantly lost are more affected by analysis than past winners.

Author: Hong, Harrison, Stein, Jeremy C., Lim,Terence
Publisher: Blackwell Publishers Ltd.
Publication Name: Journal of Finance
Subject: Business
ISSN: 0022-1082
Year: 2000
Evaluation, Stocks

User Contributions:

Comment about this article or add new information about this topic:

CAPTCHA


Dividend changes and the persistence of past earnings changes

Article Abstract:

A study on market's interpretations of changes in dividend policy of a business enterprise is presented. The study examines whether market associates changes in dividend payout with changes in earnings of the business enterprise.

Author: Koch, Adam S., Sun, Amy X.
Publisher: Blackwell Publishers Ltd.
Publication Name: Journal of Finance
Subject: Business
ISSN: 0022-1082
Year: 2004
United Kingdom, Corporate Profits, Dividend Policy, Profit, Profits, Company dividends

User Contributions:

Comment about this article or add new information about this topic:

CAPTCHA


Subjects list: Analysis, Dividends
Similar abstracts:
  • Abstracts: Conditioning variables and the cross section of stock returns. Taking stock: equity-based compensation and the evolution of managerial ownership
  • Abstracts: Markets send recession warning. Waiting for signs of recession. Recession, what recession?
  • Abstracts: Charitable contributions of depreciated capital assets: AMT may change the conventional planning wisdom. Capitalization of investment advisory fees: can the case be made?
  • Abstracts: Experimental studies of trust and human intervention in a process control simulation. Culture, politics and ergonomics
  • Abstracts: Brazil Washes Off the Argentine Contagion. M&A thrives, a la italiana. The world's best global companies
This website is not affiliated with document authors or copyright owners. This page is provided for informational purposes only. Unintentional errors are possible.
Some parts © 2023 Advameg, Inc.