Repeating a familiar pattern in a new way: The effect of exploitation and exploration on knowledge leverage behaviors in technology acquisitions
Sign Up to like & getrecommendations! Published in 2018 at "Southern Medical Journal"
DOI: 10.1002/smj.2677
Abstract: Research Summary: We identify two types of knowledge leverage behaviors undertaken by acquiring firms: integrated and independent knowledge leverage. We address how the prior exploitation or exploration orientation of acquirers influence these two modes of… read more here.
Keywords: knowledge; exploitation; exploration; acquired knowledge ... See more keywords
Business cycles, financial cycles and capital structure
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DOI: 10.1007/s10436-017-0306-z
Abstract: We perform peridogram based cycle analysis of firm capital structure and find evidence that firms’ leverage is both persistent and cyclical. The cyclicality of leverage is supported by the trade-off, pecking order and market timing… read more here.
Keywords: capital structure; capital; financial cycles; business ... See more keywords
Bank Taxes, Leverage, and Risk
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DOI: 10.1007/s10693-016-0265-y
Abstract: We use staggered changes in the taxation of banks by U.S. states to show how banks adjust their capital structure in response to taxes. A one percentage point increase in the income tax rate leads… read more here.
Keywords: risk; taxes leverage; leverage risk; leverage ... See more keywords
Do political connections affect bank leverage? Evidence from some Middle Eastern and North African countries
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DOI: 10.1007/s10997-019-09478-w
Abstract: This study examines the association between political patronage and banks' financing decision in a sample of 34 commercial banks operating in Middle East and North Africa region for the period 2003-2014. Linear and nonlinear Panel… read more here.
Keywords: bank; bank leverage; leverage; political connections ... See more keywords
Stochastic volatility, jumps and leverage in energy and stock markets: Evidence from high frequency data
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DOI: 10.1016/j.eneco.2019.104481
Abstract: Abstract In this paper, we propose a model for futures returns that has the potential to provide both individual investors and firms who have positions in financial and energy commodity futures a valid tail risk… read more here.
Keywords: leverage; volatility jumps; stochastic volatility; energy ... See more keywords
Does export intensity affect corporate leverage? Evidence from Portuguese SMEs
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DOI: 10.1016/j.frl.2019.101418
Abstract: Abstract This paper examines the effect of export intensity on a firm's capital structure using a sample of 7,676 Portuguese SMEs. Results obtained from a system GMM estimation method show that the leverage ratio is… read more here.
Keywords: affect corporate; portuguese smes; intensity; intensity affect ... See more keywords
Economic policy uncertainty and leverage dynamics: Evidence from an emerging economy
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DOI: 10.1016/j.irfa.2021.101836
Abstract: Abstract We test capital structure adjustments under dynamic trade-off theory using the standard partial adjustment framework, in light of long- and short-run economic policy uncertainties (EPU). Analysing a sample of Indian firms listed on the… read more here.
Keywords: leverage; association epu; epu leverage; association ... See more keywords
Procyclical leverage: Evidence from banks’ lending and financing decisions
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DOI: 10.1016/j.jbankfin.2020.105756
Abstract: Abstract Middle-aged people have a higher demand for bank loans compared to other age groups and banks that are active in regions with more middle-aged residents are exposed to higher loan demand. This generates a… read more here.
Keywords: financing decisions; lending financing; banks lending; finance ... See more keywords
External Cost of Leverage Adjustment: Evidence from Defined Benefit Pension Plans
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DOI: 10.1016/j.jeconbus.2018.01.001
Abstract: Abstract This paper investigates the influence of external cost shock on the speed of adjustment (SOA) toward target capital structure. To look at the impact of an exogenous shock on the speed of adjustment, we… read more here.
Keywords: external cost; benefit pension; pension plans; leverage ... See more keywords
Firm leverage and employment dynamics
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DOI: 10.1016/j.jfineco.2021.05.006
Abstract: Abstract We examine the dynamic relation between firm leverage buildups and real economic activity using U.S. establishment-, firm-, and region-level data. We find that buildups in firm leverage are predictably associated with boom-bust growth cycles:… read more here.
Keywords: growth; leverage; level; firm leverage ... See more keywords
Network effects in corporate financial policies
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DOI: 10.1016/j.jfineco.2021.05.060
Abstract: Abstract We present a spatial econometrics framework for estimating peer effects in capital structure. This approach exploits the heterogeneous and intransitive nature of peer networks to identify economically informative structural coefficients. In models of leverage… read more here.
Keywords: corporate financial; leverage; effects corporate; peer ... See more keywords