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51.
Accounting Losses and Earnings Response Coefficients: The Impact of Leverage and Growth Opportunities 总被引:1,自引:0,他引:1
Minna Martikainen 《Journal of Business Finance & Accounting》1997,24(2):277-292
This paper investigates how accounting losses affect the relationship between accounting earnings and stock returns, i.e. earnings response coefficients (ERCs), in different leverage and growth categories. In a sample of NYSE firms between 1975 and 1990, the exclusion of losses improves the ERCs considerably. While the impact of losses on ERCs is highest in the subgroup including high growth opportunity firms, the exclusion of losses does not improve ERCs as significantly among firms with low growth opportunities. The results further support the hypothesis that the impact of losses on ERCs is different in different financial leverage subgroups. The measured increase in ERCs is most significant among the least levered firms. The observation that the impact of losses on ERCs is related to growth opportunities and financial leverage is clearly observable also in different size categories. The effects of growth opportunities and financial leverage are also incrementally important with respect to each other. In general, the results indicate that the impact of growth opportunities and financial leverage on ERCs is clearly observable especially when losses and profits are analyzed separately. 相似文献
52.
Our research explores the role conflict, ambiguity and resulting social stigma and relational risks that transnational B2B networkers face when facilitating the formation of new exchange dyads between firms from distinct and distant cultures, i.e. Chinese and Western. We integrate literature from institution theory and role theory to establish the comparative framework. This allows us to explore: (1) what stigma and relational risks guanxi brokers assume when facilitating transnational business connections; (2) if Western brokers encounter similar stigma and negative consequences that threaten their professional standing and the formation process; and, (3) the lessons from both that transnational firms can learn and incorporate into best practices. We conclude our paper with managerial implications and suggestions for further research. 相似文献
53.
Online grocery shopping has become increasingly popular in many countries due to Covid-19. Although there is plenty of research on consumer adoption and use of online grocery shopping, only a few studies focus on understanding the underlying beliefs of experienced buyers. Using the Theory of Planned Behaviour and following its recommendations, the present study set out to explore the actual beliefs that underlie attitudes, subjective norms and perceived behavioural control to buy groceries online among those who have been doing it regularly for a longer time. A structured qualitative approach, in this case an elicitation study, was applied to uncover the shared ideas, modal salient beliefs, among a group of experienced buyers (n = 14). The study found that time-saving and convenience, which for many meant avoiding the discomfort of in-store shopping, combined with assisted meal planning and simultaneous ordering were considered important for experienced online shoppers. This suggests that further assistance in the planning to order process may be welcome, including more proactive prompts and suggestions. The quality of perishable goods was still a concern after months of online shopping, along with a limited product range, which for some had meant less variation in meals. Suboptimal user interface and delivery-related inflexibility caused some concern. Retailers in the grocery business stand before major capital expenditure if they wish to expand their online offerings and services. The study at hand provides valuable initial insight into what drives consumer behaviour in this respect. 相似文献
54.
Decisions in Economics and Finance - We provide a lean, non-technical exposition on the pricing of path-dependent and European-style derivatives in the Cox–Ross–Rubinstein (CRR) pricing... 相似文献