The conditional relationship between financial leverage and corporate investment: further clarification

Article Abstract:

An option-theoretic approach was used to investigate the financing and investment decisions of a company maximizing its value. The approach makes it possible to explicitly analyze the effects of different firm-specific factors on financial leverage-corporate investment relationships. The analysis found financial leverage to be lower and corporate investment to be higher in companies that face higher tax-shield transfer costs, higher capital intensity or smaller insider equity ownership.

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Asset characteristics and corporate debt policy: an empirical test

Article Abstract:

A study on the relationship between the asset characteristics of a company and its financial leverage is presented. Data usedin the study is taken from the Compustat Annual Industrial and PDE Files of Standard and Poor. Results indicate that more long-term debt is accumulated by firms with higher asset diversification and firms in regulated industries and that less short and long-term debt are used by firms with greater opportunitiesfor growth and higher operating risks.

Debt financing (Corporations), Debt financing, Assets (Accounting)

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Decimal pricing and information-based trading: tick size and informational efficiency of asset price

Article Abstract:

The impact of tick size of stock tickers, which convey stock attributes, on the efficiency of asset prices in information-based trading is analyzed.

United States, Forecasts, trends, outlooks, Regulation, Licensing, and Inspection of Miscellaneous Commercial Sectors, Asset Valuation & Distribution, Analysis, Stocks, Forecasts and trends, Influence, Market trend/market analysis, Stock prices, Securities trading, Asset valuation

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