Zobrazeno 1 - 10
of 25
pro vyhledávání: '"Vefa Tarhan"'
Publikováno v:
Quarterly Review of Economics and Finance
We examine the relationship between liquidity crises and frictions in raising funds, and find that both the gap between the cash flow sensitivities of financially healthy and weak firms and the cash flow sensitivities of healthy and weak firms themse
Externí odkaz:
https://explore.openaire.eu/search/publication?articleId=doi_dedup___::147c120e3f5516a88cf0ef59ddb042d0
https://doi.org/10.1016/j.qref.2017.03.004
https://doi.org/10.1016/j.qref.2017.03.004
Publikováno v:
Journal of Financial Economics. 120:445-463
We present evidence consistent with operational constraints leading firms to use high discount rates that average twice the firms’ cost of financial capital. Based on a survey of Chief Financial Officers matched to archival data, we find that firms
Externí odkaz:
https://explore.openaire.eu/search/publication?articleId=doi_________::25c929918f619313a040c4da35409fac
https://doi.org/10.1016/j.jfineco.2016.01.012
https://doi.org/10.1016/j.jfineco.2016.01.012
Publikováno v:
The Journal of Finance. 65:725-763
We develop a dynamic multiequation model where firms make financing and invest ment decisions jointly subject to the constraint that sources must equal uses of cash. We argue that static models of financial decisions produce inconsistent coefficient
Externí odkaz:
https://explore.openaire.eu/search/publication?articleId=doi_________::183d48e4333d78ce5423f41eaa820bc3
https://doi.org/10.1111/j.1540-6261.2009.01549.x
https://doi.org/10.1111/j.1540-6261.2009.01549.x
Publikováno v:
Journal of Corporate Finance. 15:179-195
This paper examines the financing decisions of firms in response to changes in investments and profits. We find that information frictions play important roles in firms' financing decisions. However, we find no evidence that asymmetric information ab
Externí odkaz:
https://explore.openaire.eu/search/publication?articleId=doi_________::477a9b787d64f38f8e31129a441523da
https://doi.org/10.1016/j.jcorpfin.2008.11.001
https://doi.org/10.1016/j.jcorpfin.2008.11.001
Autor:
Vefa Tarhan
Publikováno v:
The Journal of Economic Asymmetries. 4:41-56
This paper examines how globalization affects developing country capital markets. While these countries benefit from global integration of capital markets since it enables them to access foreign capital, globalization also imposes costs on them since
Externí odkaz:
https://explore.openaire.eu/search/publication?articleId=doi_________::6ec89b8108c90723cc8801ccad1cd125
https://doi.org/10.1016/j.jeca.2007.01.003
https://doi.org/10.1016/j.jeca.2007.01.003
Autor:
Vefa Tarhan
Publikováno v:
The Journal of Economic Asymmetries. 2:59-80
This paper examines developing country capital markets. In particular, the shortcomings of developing country capital markets relative to developed capital markets are discussed. These deficiencies include factors such as illiquidity, lack of long te
Externí odkaz:
https://explore.openaire.eu/search/publication?articleId=doi_________::6325109298960d12d9913614700dd0a4
https://doi.org/10.1016/j.jeca.2005.01.004
https://doi.org/10.1016/j.jeca.2005.01.004
Publikováno v:
SSRN Electronic Journal.
We find that operational constraints lead firms to use high discount rates that exceed their cost of financial capital, based on an original survey of CFOs with firm identifiers linked to responses. Firms with abundant access to capital but limited q
Externí odkaz:
https://explore.openaire.eu/search/publication?articleId=doi_________::80bb7250a58eda89efa211d511ad99a9
https://doi.org/10.2139/ssrn.2412250
https://doi.org/10.2139/ssrn.2412250
Do Cash Flow Sensitivities Vary During Non-Crisis and Liquidity Crisis Periods and Across Countries?
Publikováno v:
SSRN Electronic Journal.
Estimation of a multi-equation cash flow sensitivity model shows that capital market constraints vary with economic conditions. Since earlier studies use data that covers different economic conditions, their findings smooth-out effects of constraints
Externí odkaz:
https://explore.openaire.eu/search/publication?articleId=doi_________::c29e64956908ad777e2e35b517b9082c
https://doi.org/10.2139/ssrn.2315906
https://doi.org/10.2139/ssrn.2315906
Autor:
Vefa Tarhan
Publikováno v:
Journal of Economic Dynamics and Control. 19:1199-1222
The Federal Reserve is probably one of the institutions most closely monitored by investors. This indicates that investors believe the actions of the Fed have implications for asset prices. To this date, the trading activities of the Fed in the finan
Externí odkaz:
https://explore.openaire.eu/search/publication?articleId=doi_________::80cbb683b6e1d35919ae808c97439dc1
https://doi.org/10.1016/0165-1889(94)00824-2
https://doi.org/10.1016/0165-1889(94)00824-2
Whereas Poterba and Summers (1995) find that firms use hurdle rates that are unrelated to their CAPM betas, Graham and Harvey (2001) find that 74% of their survey firms use the CAPM for capital budgeting. We provide an explanation for these two appar
Externí odkaz:
https://explore.openaire.eu/search/publication?articleId=doi_________::19d53e8e6226bfe7bf9329fc486a8954
https://doi.org/10.3386/w16770
https://doi.org/10.3386/w16770
