Zobrazeno 1 - 10 of 54 pro vyhledávání: '"Matthew T. Billett"'
2
Does Other Comprehensive Income Volatility Influence Credit Risk and the Cost of Debt?
Autor: Matthew T. Billett, May Xiaoyan Bao, Emre Unlu, David B. Smith
Publikováno v: Contemporary Accounting Research. 37:457-484
We examine the usefulness of other comprehensive income (OCI) to debt investors in nonfinancial companies. Motivated by Merton's (1974) real options framework, we construct a measure of incremental OCI volatility, designed to capture the effect of OC
Externí odkaz: https://explore.openaire.eu/search/publication?articleId=doi_________::eec07c754c8e93d1ab6812c40aa9b67d
https://doi.org/10.1111/1911-3846.12548
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4
Cash Collateral, Creditor Rights, and the Provision of Trade Credit
Autor: Matthew T. Billett, Kayla Freeman, Janet Gao
Publikováno v: SSRN Electronic Journal.
How does access to debt markets affect firms' provision of trade credit? Existing literature focuses on the effect of financial crises and shows that access to bank loans allows firms to provide more trade credit. However, outside of crises, increase
Externí odkaz: https://explore.openaire.eu/search/publication?articleId=doi_________::2366d00053b2257da408a3e8b839a938
https://doi.org/10.2139/ssrn.3827200
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6
Torpedo Your Competition: Strategic Reporting and Peer Firm IPO
Autor: Matthew T. Billett, Mark Ma, Xiaoyun Yu
Publikováno v: SSRN Electronic Journal.
A firm’s initial public offering (IPO) generates negative externalities for industry competitors. To mitigate this threat, incumbent firms manage their earnings downwards, issue more negative management forecasts, and use a more negative disclosure
Externí odkaz: https://explore.openaire.eu/search/publication?articleId=doi_________::db2de43fbb8edbba745ed745d3d50f74
https://doi.org/10.2139/ssrn.3682867
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7
Index Investing and Corporate Investment-Price Sensitivity
Autor: Matthew T. Billett, Jon A. Garfinkel, Ha Diep-Nguyen
Publikováno v: SSRN Electronic Journal.
Firm investment-stock price sensitivity declines in SP by weaker results when the focal firm manager is relatively more informed; and by dynamic reallocation of focal firm investment sensitivity to indexed vs. non-indexed peers.
Externí odkaz: https://explore.openaire.eu/search/publication?articleId=doi_________::3c33d5d5c6d49a70de5d22a9b1df2db1
https://doi.org/10.2139/ssrn.3555397
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8
At-the-Market Offerings
Autor: Matthew T. Billett, Jon A. Garfinkel, Ioannis V. Floros
Publikováno v: Journal of Financial and Quantitative Analysis. 54:1263-1283
We study at-the-market (ATM) equity offerings, which are direct share issuances sold in the secondary market that forgo underwriters and “dribble-out” shares over time rather than raising them all at once. Enabled in 2008, their use has increased
Externí odkaz: https://explore.openaire.eu/search/publication?articleId=doi_________::d2eb7315c9b48c3db3980dcce9a131f2
https://doi.org/10.1017/s0022109018000893
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9
Creditor control and product-market competition
Autor: Miaomiao Yu, Burcu Esmer, Matthew T. Billett
Publikováno v: Journal of Banking & Finance. 86:87-100
We explore how rival firms respond when firms in their industry violate debt covenants. We find that rival firms increase advertising expense, and that this increase is proportional to the size of industry violators’ pre-existing market share. Riva
Externí odkaz: https://explore.openaire.eu/search/publication?articleId=doi_________::b3477cca1aa9d9721330d2dddf7160e6
https://doi.org/10.1016/j.jbankfin.2017.06.016
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10
Asymmetric Information, Financial Reporting, and Open-Market Share Repurchases
Autor: Matthew T. Billett, Miaomiao Yu
Publikováno v: Journal of Financial and Quantitative Analysis. 51:1165-1192
We explore the link between open-market share repurchases (OMRs) and asymmetric information based on financial reporting quality and find thatopaquefirms experience positive abnormal returns of twice the magnitude of those oftransparentfirms. These s
Externí odkaz: https://explore.openaire.eu/search/publication?articleId=doi_________::be8253529b826e9367202d26c5a8e292
https://doi.org/10.1017/s0022109016000612
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