Managerial Finance: Volume 38 Issue 6

The firm‐specific nature of debt tax shields and optimal corporate investment decisions

Assaf Eisdorfer, Thomas J. O'Brien

While an operation's unlevered value is objective, the value of the debt tax shield is subjective since it depends on the capital structure policy of the firm that owns the…

Directors with a full plate: the impact of busy directors on bank risk

Elizabeth Cooper, Hatice Uzun

This paper aims to analyze the impact of busy directors on bank risk. Busy directors are directors with multiple directorships and other corporate responsibilities.

Steel Partners' activism efforts at United Industrial, Ronson, and BKF Capital: The good, the bad, and the ugly

Timothy A. Kruse, Kazunori Suzuki

This paper seeks to analyse Steel Partners' investments and activism targeting United Industrial, Ronson, and BKF Capital to provide context for the debate surrounding shareholder…

Stock exchange consolidation and return volatility

Faten Ben Slimane

In recent years, stock exchanges have been increasingly integrating and merging their activities at a national and international scale. While consolidation is often driven by…

Modeling interest rate volatility: an extended EGARCH approach

Gregory Koutmos

This paper aims to propose a general, yet simple model to estimate interest rate volatility.