Managerial Finance: Volume 48 Issue 1

On resolving exchange rate exposure puzzle: evidence from Chinese stock market

Chu-Sheng Tai

It has been increasingly recognized that exchange rate changes affect the cash flow and the value of firms. Existing studies on exchange rate exposure do not have much success in…

Acquiring firms' earnings management in stock-for-stock mergers within Korean business groups

Kyung Soon Kim, Jin Hwon Lee, Yun W. Park

This study examines acquirers' earnings management in intragroup mergers to investigate whether stock-for-stock mergers between affiliated firms within the same family-controlled…

Reexamining the relative-age effect and career success: new evidence from S&P 1500 CEOs

Thomas Covington, Steve Swidler, Keven Yost

The previous literature finds evidence from birth dates of CEOs that the relative-age effect continually influences their career success. The authors look at a significantly…

Can student managed investment funds (SMIFs) narrow the environmental, social and governance (ESG) skills gap?

Erin Oldford, Neal Willcott, Tanner Kennie

The purpose of this paper is twofold. First, it endeavors to document the current state of environmental, social and governance (ESG) pedagogy within undergraduate finance courses…

Do CEOs get rewarded for CSR activities in the director labor market?

Lee M. Dunham, Tirimba Obonyo, Sijing Wei

The purpose of this paper is to determine if Chief Executive Officers (CEOs) are rewarded or punished in the corporate director labor market for engaging in corporate social…

The effect of firm-specific litigation risk on independent director conservatism

Guoping Liu, Jerry Sun

The purpose of this study is to examine whether firm-specific litigation risk affects independent director conservatism in the oversight of financial reporting.

Evidence of the adaptive market hypothesis in shares traded by B3 listed banking companies

Paulo Vitor Souza de Souza, César Augusto Tibúrcio Silva, Fabiano Guasti Lima

The authors aim to verify the indicators that influence the efficiency reported by Brazilian listed financial companies.

The board effectiveness index and stock price crash risk

Woraphon Wattanatorn, Chaiyuth Padungsaksawasdi

The main purpose of this study is to use a new broad board effectiveness index, which has been created from several internal attributes of board of directors and to investigate…

Contemporaneous or causal? Evaluating the triumvirate of insolvency risk, capitalization and efficiency in Indian commercial banking

Navendu Prakash, Shveta Singh, Seema Sharma

This paper empirically examines the short-term and long-term associations between risk, capital and efficiency (R-C-E) in the Indian banking sector across 2008–2019 to answer the…

Institutional investors and the value of excess cash holdings: empirical evidence from Pakistan

Muhammad Ilyas, Rehman Uddin Mian, Nabeel Safdar

This study examines the effects of foreign and domestic institutional investors on the value of excess cash holdings in the context of Pakistan where the institutional setting is…