发布求助
文献互助 智能选刊 最新文献

Australasian Finance & Banking Conferences最新文献

筛选
英文 中文
Debt Retirement at IPO and Firm Growth 首次公开募股时的债务退休和公司成长
Australasian Finance & Banking Conferences Pub Date : 2018-07-06 DOI: 10.2139/ssrn.3045158
Pengda Fan
{"title":"Debt Retirement at IPO and Firm Growth","authors":"Pengda Fan","doi":"10.2139/ssrn.3045158","DOIUrl":"https://doi.org/10.2139/ssrn.3045158","url":null,"abstract":"Abstract This paper examines whether debt retirement at the time of initial public offering (IPO) can stimulate firm growth. Our findings demonstrate that highly leveraged firms tend to use the proceeds of IPOs to repay more existing debt. Then, increased debt capacity and reduced interest burden enable firms to expand their businesses. Firms that retire more debt also present better performance in the long-term. These results indicate that firms that have previously been labeled low-growth firms can achieve high growth in the post-IPO period by conducting debt retirement.","PeriodicalId":430498,"journal":{"name":"Australasian Finance & Banking Conferences","volume":"48 1","pages":"0"},"PeriodicalIF":0.0,"publicationDate":"2018-07-06","publicationTypes":"Journal Article","fieldsOfStudy":null,"isOpenAccess":false,"openAccessPdf":"","citationCount":null,"resultStr":null,"platform":"Semanticscholar","paperid":"126006340","PeriodicalName":null,"FirstCategoryId":null,"ListUrlMain":null,"RegionNum":0,"RegionCategory":"","ArticlePicture":[],"TitleCN":null,"AbstractTextCN":null,"PMCID":"","EPubDate":null,"PubModel":null,"JCR":null,"JCRName":null,"Score":null,"Total":0}
引用次数: 12
The Selection of Directors to Corporate Boards 公司董事会董事的选择
Australasian Finance & Banking Conferences Pub Date : 2018-07-01 DOI: 10.2139/ssrn.3215474
David J. Denis, Diane K. Denis, Mark D. Walker
{"title":"The Selection of Directors to Corporate Boards","authors":"David J. Denis, Diane K. Denis, Mark D. Walker","doi":"10.2139/ssrn.3215474","DOIUrl":"https://doi.org/10.2139/ssrn.3215474","url":null,"abstract":"Corporate spinoffs present a unique opportunity to analyze the choice of directors from a pool of potential candidates. We find that post-spinoff unit and remaining parent firms are more likely to select pre-spinoff parent directors who have: i) relevant industry expertise; and ii) pre-spinoff parent board ties to the post-spinoff CEO. Using pre-spinoff firm performance as a proxy for director quality, the evidence also suggests that firms are more likely to retain high-quality directors. We conclude that firms select individual directors based on both their expertise relevant to firm assets and their ties to CEOs who possess specific information about their ability.","PeriodicalId":430498,"journal":{"name":"Australasian Finance & Banking Conferences","volume":"64 1","pages":"0"},"PeriodicalIF":0.0,"publicationDate":"2018-07-01","publicationTypes":"Journal Article","fieldsOfStudy":null,"isOpenAccess":false,"openAccessPdf":"","citationCount":null,"resultStr":null,"platform":"Semanticscholar","paperid":"127618557","PeriodicalName":null,"FirstCategoryId":null,"ListUrlMain":null,"RegionNum":0,"RegionCategory":"","ArticlePicture":[],"TitleCN":null,"AbstractTextCN":null,"PMCID":"","EPubDate":null,"PubModel":null,"JCR":null,"JCRName":null,"Score":null,"Total":0}
引用次数: 5
An Empirical Study to Assess If Islamic Banks’ Assets Generate Less Revenue than its Conventional Counterpart 评估伊斯兰银行资产收益是否低于传统银行的实证研究
Australasian Finance & Banking Conferences Pub Date : 2018-05-16 DOI: 10.2139/ssrn.3179400
Md Nurul Islam Sohel, Dr. Md. Mizanur Rahman
{"title":"An Empirical Study to Assess If Islamic Banks’ Assets Generate Less Revenue than its Conventional Counterpart","authors":"Md Nurul Islam Sohel, Dr. Md. Mizanur Rahman","doi":"10.2139/ssrn.3179400","DOIUrl":"https://doi.org/10.2139/ssrn.3179400","url":null,"abstract":"Islamic banks, being guided by the principles and rules of shariah, have some inherent limitations in selecting the operational sectors and securitized instruments for financing compared to their conventional counterparts. This study aims to bring to light whether Islamic banks, a growing subset of banking industry in Bangladesh, have further opportunities in generating revenue through deploying their resources. Six Bangladeshi Islamic banks and 12 of its conventional counterparts were purposively selected for this study. Five years (2011-2015) secondary data were used to assess the asset turnover ratio to compare the earning efficiency of Islamic banks with that of conventional ones. Results find that Islamic banks’ assets generate less revenue than its conventional counterparts. The results also find that Islamic banks have further scope of enhancing their income from some sources like, income from shares and securities and other operating income. The paper recommends some measures for the concerned stakeholders like, Islamic banks themselves, Government, and the Central Bank for introducing shariah compliant securitized instruments, level playing policy support, and technology based products and services which can help minimize the gap of income generation opportunities between Islamic and conventional banks.","PeriodicalId":430498,"journal":{"name":"Australasian Finance & Banking Conferences","volume":"49 1","pages":"0"},"PeriodicalIF":0.0,"publicationDate":"2018-05-16","publicationTypes":"Journal Article","fieldsOfStudy":null,"isOpenAccess":false,"openAccessPdf":"","citationCount":null,"resultStr":null,"platform":"Semanticscholar","paperid":"125432807","PeriodicalName":null,"FirstCategoryId":null,"ListUrlMain":null,"RegionNum":0,"RegionCategory":"","ArticlePicture":[],"TitleCN":null,"AbstractTextCN":null,"PMCID":"","EPubDate":null,"PubModel":null,"JCR":null,"JCRName":null,"Score":null,"Total":0}
引用次数: 0
Herd Behaviour & Investor Sentiment: Evidence from UK Mutual Funds 羊群行为与投资者情绪:来自英国共同基金的证据
Australasian Finance & Banking Conferences Pub Date : 2018-04-01 DOI: 10.2139/ssrn.3222312
Yawen Hudson, Meilan Yan, Dalu Zhang
{"title":"Herd Behaviour & Investor Sentiment: Evidence from UK Mutual Funds","authors":"Yawen Hudson, Meilan Yan, Dalu Zhang","doi":"10.2139/ssrn.3222312","DOIUrl":"https://doi.org/10.2139/ssrn.3222312","url":null,"abstract":"Abstract The aims of this paper are to detect evidence of institutional investor herding behaviour and examine the role that investor sentiment plays in institutional investor herding behaviour. The herding behaviour is investigated by examining the dispersion of time varying beta of UK open-end and closed-end funds. The study finds evidence of fund managers' herding behaviour, which suggests they are likely to herd on market portfolio, size, and value factors. UK market-wide investor sentiment index is used for investigating the effects of investor sentiment on institutional herding behaviour. We find a unidirectional investor sentiment effect on the herding of UK mutual fund managers. We also reveal that the sentiment factors affecting UK open-end and closed-end fund managers herding behaviour are different due to the differences in fund structure.","PeriodicalId":430498,"journal":{"name":"Australasian Finance & Banking Conferences","volume":"36 1","pages":"0"},"PeriodicalIF":0.0,"publicationDate":"2018-04-01","publicationTypes":"Journal Article","fieldsOfStudy":null,"isOpenAccess":false,"openAccessPdf":"","citationCount":null,"resultStr":null,"platform":"Semanticscholar","paperid":"122585941","PeriodicalName":null,"FirstCategoryId":null,"ListUrlMain":null,"RegionNum":0,"RegionCategory":"","ArticlePicture":[],"TitleCN":null,"AbstractTextCN":null,"PMCID":"","EPubDate":null,"PubModel":null,"JCR":null,"JCRName":null,"Score":null,"Total":0}
引用次数: 41
Cash-Settled Swaptions - A Review of Cash-Settled Swaption Pricing 现金结算掉期——现金结算掉期定价综述
Australasian Finance & Banking Conferences Pub Date : 2018-02-06 DOI: 10.2139/ssrn.3107760
N. Burgess
{"title":"Cash-Settled Swaptions - A Review of Cash-Settled Swaption Pricing","authors":"N. Burgess","doi":"10.2139/ssrn.3107760","DOIUrl":"https://doi.org/10.2139/ssrn.3107760","url":null,"abstract":"In this paper we provide an outline of interest rate swaptions and how to price swaptions with different payoff or settlement types. Firstly we review the different settlement styles commonplace in financial markets. Secondly we review the swaption pricing formulae corresponding to each settlement type and review pricing considerations associated with each payoff. \u0000Thirdly we review the pricing of swaptions with different choices of settlement style. We outline swaption par-yield pricing considerations and review the cash-annuity factor. We note that par-yield cash-settlement is not arbitrage-free, yet despite this par-yield settlement is a standard swaption payoff in European markets. \u0000We emphasize par-yield settlement, since his method can be provide significant benefits and yet be quite opaque and often misunderstood. Par-yield settlement provides a simplified representation of the cash payoff of a swap, which is convenient for swaption payoff standardization, trade netting and the exchange clearing of swaptions. Trade netting can significantly reduce counterparty credit risk, associated XVA and capital charges, which can be substantial. \u0000Finally we review how to extend the par-yield and cash-annuity definitions to allow the pricing of swaptions with stubs and irregular coupons.","PeriodicalId":430498,"journal":{"name":"Australasian Finance & Banking Conferences","volume":"13 1","pages":"0"},"PeriodicalIF":0.0,"publicationDate":"2018-02-06","publicationTypes":"Journal Article","fieldsOfStudy":null,"isOpenAccess":false,"openAccessPdf":"","citationCount":null,"resultStr":null,"platform":"Semanticscholar","paperid":"126806396","PeriodicalName":null,"FirstCategoryId":null,"ListUrlMain":null,"RegionNum":0,"RegionCategory":"","ArticlePicture":[],"TitleCN":null,"AbstractTextCN":null,"PMCID":"","EPubDate":null,"PubModel":null,"JCR":null,"JCRName":null,"Score":null,"Total":0}
引用次数: 0
Optimal Number of Active Managers 活跃管理器的最优数量
Australasian Finance & Banking Conferences Pub Date : 2018-02-05 DOI: 10.2139/ssrn.3118365
Sameer Jain, M. Shahi
{"title":"Optimal Number of Active Managers","authors":"Sameer Jain, M. Shahi","doi":"10.2139/ssrn.3118365","DOIUrl":"https://doi.org/10.2139/ssrn.3118365","url":null,"abstract":"This article explores if investors in a platform of active investments be required to diversify - with minimum requirements on the number of managers to be employed when constructing portfolios?","PeriodicalId":430498,"journal":{"name":"Australasian Finance & Banking Conferences","volume":"414 1","pages":"0"},"PeriodicalIF":0.0,"publicationDate":"2018-02-05","publicationTypes":"Journal Article","fieldsOfStudy":null,"isOpenAccess":false,"openAccessPdf":"","citationCount":null,"resultStr":null,"platform":"Semanticscholar","paperid":"115855272","PeriodicalName":null,"FirstCategoryId":null,"ListUrlMain":null,"RegionNum":0,"RegionCategory":"","ArticlePicture":[],"TitleCN":null,"AbstractTextCN":null,"PMCID":"","EPubDate":null,"PubModel":null,"JCR":null,"JCRName":null,"Score":null,"Total":0}
引用次数: 0
The Invisible Hand of Internal Markets in Mutual Fund Families 共同基金家族内部市场的看不见的手
Australasian Finance & Banking Conferences Pub Date : 2018-01-25 DOI: 10.2139/ssrn.1567267
Luis Goncalves-Pinto, Juan M. Sotes-Paladino, Jing Xu
{"title":"The Invisible Hand of Internal Markets in Mutual Fund Families","authors":"Luis Goncalves-Pinto, Juan M. Sotes-Paladino, Jing Xu","doi":"10.2139/ssrn.1567267","DOIUrl":"https://doi.org/10.2139/ssrn.1567267","url":null,"abstract":"The internal markets of fund families can encourage member funds to deviate excessively from their investment mandates. Theoretically, we show that fund managers following sufficiently different style benchmarks can engage in risk-shifting by trading with one another at low cost inside their family. This benefits the managers and the family even in the absence of a family-level strategy. However, the excessive risks taken by the managers can be costly to fund investors. Empirically, we find support for the positive effect of intra-family style diversity on offsetting trades across funds and on deviations of funds’ portfolios from their benchmarks.","PeriodicalId":430498,"journal":{"name":"Australasian Finance & Banking Conferences","volume":"36 1","pages":"0"},"PeriodicalIF":0.0,"publicationDate":"2018-01-25","publicationTypes":"Journal Article","fieldsOfStudy":null,"isOpenAccess":false,"openAccessPdf":"","citationCount":null,"resultStr":null,"platform":"Semanticscholar","paperid":"116849686","PeriodicalName":null,"FirstCategoryId":null,"ListUrlMain":null,"RegionNum":0,"RegionCategory":"","ArticlePicture":[],"TitleCN":null,"AbstractTextCN":null,"PMCID":"","EPubDate":null,"PubModel":null,"JCR":null,"JCRName":null,"Score":null,"Total":0}
引用次数: 10
Corporate Governance and the Insolvency Risk of Financial Institutions 公司治理与金融机构破产风险
Australasian Finance & Banking Conferences Pub Date : 2018-01-22 DOI: 10.2139/ssrn.2826456
Searat Ali, J. Iqbal
{"title":"Corporate Governance and the Insolvency Risk of Financial Institutions","authors":"Searat Ali, J. Iqbal","doi":"10.2139/ssrn.2826456","DOIUrl":"https://doi.org/10.2139/ssrn.2826456","url":null,"abstract":"Abstract We investigate whether shareholder-friendliness of corporate governance mechanisms is related to insolvency risk of financial institutions. Using a large sample of U.S. financial institutions over the period 2005–2010, we find that corporate governance is positively related with insolvency risk of financial institutions as proxied by Merton’s distance to default measure and credit default swap (CDS) spread. We also find that “stronger” corporate governance increases insolvency risk relatively more for larger financial institutions and during the period of the financial crisis. Overall, our results suggest that shareholder-friendliness of corporate governance mechanisms are viewed unfavorably in the bond market.","PeriodicalId":430498,"journal":{"name":"Australasian Finance & Banking Conferences","volume":"103 1","pages":"0"},"PeriodicalIF":0.0,"publicationDate":"2018-01-22","publicationTypes":"Journal Article","fieldsOfStudy":null,"isOpenAccess":false,"openAccessPdf":"","citationCount":null,"resultStr":null,"platform":"Semanticscholar","paperid":"128252669","PeriodicalName":null,"FirstCategoryId":null,"ListUrlMain":null,"RegionNum":0,"RegionCategory":"","ArticlePicture":[],"TitleCN":null,"AbstractTextCN":null,"PMCID":"","EPubDate":null,"PubModel":null,"JCR":null,"JCRName":null,"Score":null,"Total":0}
引用次数: 7
Does Probability Weighting Drive Skewness Preferences? 概率加权驱动偏度偏好吗?
Australasian Finance & Banking Conferences Pub Date : 2017-12-31 DOI: 10.2139/ssrn.3002742
Benjamin M. Blau, Jared DeLisle, Ryan J. Whitby
{"title":"Does Probability Weighting Drive Skewness Preferences?","authors":"Benjamin M. Blau, Jared DeLisle, Ryan J. Whitby","doi":"10.2139/ssrn.3002742","DOIUrl":"https://doi.org/10.2139/ssrn.3002742","url":null,"abstract":"We propose a test of Barberis and Huang’s (2008) theory of skewness preferences. The probability weighting feature that is the basis of their theory relies on investors overweighting the probability of tail events. The resulting investor preferences for positive skewness in return distributions will lead to excess demand, contemporaneous price premiums, and negative expected returns. We use the well-documented 52-week high bias as a method to truncate the probability of expected right-tail events. We find evidence supporting the Barberis and Huang theory as the negative return premia associated with positive skewness are driven almost entirely by stocks that are farther away from the their 52-week high .","PeriodicalId":430498,"journal":{"name":"Australasian Finance & Banking Conferences","volume":"2 1","pages":"0"},"PeriodicalIF":0.0,"publicationDate":"2017-12-31","publicationTypes":"Journal Article","fieldsOfStudy":null,"isOpenAccess":false,"openAccessPdf":"","citationCount":null,"resultStr":null,"platform":"Semanticscholar","paperid":"131189481","PeriodicalName":null,"FirstCategoryId":null,"ListUrlMain":null,"RegionNum":0,"RegionCategory":"","ArticlePicture":[],"TitleCN":null,"AbstractTextCN":null,"PMCID":"","EPubDate":null,"PubModel":null,"JCR":null,"JCRName":null,"Score":null,"Total":0}
引用次数: 1
Bio Informatics in Private Universities in India: An Emerging Study on Promotion of Biological Information Sciences 印度私立大学的生物信息学:促进生物信息科学的新兴研究
Australasian Finance & Banking Conferences Pub Date : 2017-12-25 DOI: 10.5958/2321-7111.2017.00010.5
P. Paul, Sreeramana Aithal
{"title":"Bio Informatics in Private Universities in India: An Emerging Study on Promotion of Biological Information Sciences","authors":"P. Paul, Sreeramana Aithal","doi":"10.5958/2321-7111.2017.00010.5","DOIUrl":"https://doi.org/10.5958/2321-7111.2017.00010.5","url":null,"abstract":"Information Science is an interdisciplinary domain and plays a great role in the development at large. Information Science and Informatics normally treated as a synonym in academia worldwide. Information Science/Informatics is an applied science branch and thus with the combination of other areas and subject created many other knowledge cluster and field viz. Geo Information Science, Chemo Information Sciences, Environmental Information Science. Bio Information Sciences may be considered as a field of intersection of Biology and Information Science. Bio Informatics may be treated as one of the areas of Bio Information Sciences. Indian universities moving towards education, training, and research in interdisciplinary fields and as a result Bio related Informatics become vital. Higher Educational Institution’s number wise India also holds a rank in the world. In recent past private universities expanded rapidly. Many of them started offering Bio Informatics program in different level of study. This is a theoretical framework in terms of research paper and here several knowledge on information sciences, informatics with reference to Bio Informatics have been provided. The paper also highlighted emerging other allied areas including future potentialities in brief.","PeriodicalId":430498,"journal":{"name":"Australasian Finance & Banking Conferences","volume":"49 1","pages":"0"},"PeriodicalIF":0.0,"publicationDate":"2017-12-25","publicationTypes":"Journal Article","fieldsOfStudy":null,"isOpenAccess":false,"openAccessPdf":"","citationCount":null,"resultStr":null,"platform":"Semanticscholar","paperid":"126855971","PeriodicalName":null,"FirstCategoryId":null,"ListUrlMain":null,"RegionNum":0,"RegionCategory":"","ArticlePicture":[],"TitleCN":null,"AbstractTextCN":null,"PMCID":"","EPubDate":null,"PubModel":null,"JCR":null,"JCRName":null,"Score":null,"Total":0}
引用次数: 7
首页 上一页 下一页 尾页
0
×
引用
GB/T 7714-2015
复制
MLA
复制
APA
复制
导出至
BibTeX EndNote RefMan NoteFirst NoteExpress
×
提示
您的信息不完整，为了账户安全，请先补充。
现在去补充
×
提示
您因"违规操作"
具体请查看互助需知
我知道了
×
提示
现在去查看 取消
×
提示
确定
请完成安全验证×
相关产品
×
本文献相关产品
联系我们：info@booksci.cn Book学术提供免费学术资源搜索服务，方便国内外学者检索中英文文献。致力于提供最便捷和优质的服务体验。 Copyright © 2023 布克学术 All rights reserved.
京ICP备2023020795号-1
ghs 京公网安备 11010802042870号
Book学术文献互助
Book学术文献互助群
群 号：604180095
Book学术官方微信
小红书