Financial Management articles from March 2007

Financial Management archives from March 2007

Dividend policy inside the multinational firm.(Report)
March 22, 2007... This paper examines the determinants of profit repatriation policies for US multinational firms. Dividend repatriations are surprisingly persistent and resemble dividend payments to external shareholders. Tax considerations influence dividend...

The effect of substitute assets on yields in financial markets.
March 22, 2007... We examine the link between volume and liquidity in money markets where there are close substitutes. We find that the size of the market, as a proxy for trading volume, affects yield spreads over T-bill rates. We examine the bankers acceptances...

Access to institutional finance and the use of trade credit.(Report)
March 22, 2007... I develop a conceptual framework for analyzing the effect of the availability of institutional loans on firms' demand for supplier (trade) finance. I test for the existence of credit constraints and their effect on corporate financing policies....

Impact of visibility and investment advisor credibility on the valuation effects of high-tech cross-border acquisitions.(Report)
March 22, 2007... Since foreign high-tech firms exhibit a high level of asymmetric information, there is much investor skepticism surrounding the potential benefits to US firms that acquire them. However, the investor perception may be more favorable when the...

Product development and market expansion: a real options model.(Report)
March 22, 2007... We create a model that values complementary and substitute products with potentially correlated revenues, which must be developed sequentially. The model also incorporates the effects of changing market conditions. We find that the value of a...