[PDF] Top 20 Firm transparency and idiosyncratic risk

... information transparency, first of all the relationship between information transparency and idiosyncratic risk must be clarified, particularly for the emerging market and rapid-growing ... See full document

... and firm risks are two major topics in the field of corporate finance, but the influence of extreme payout events (payout initiations and omissions) on firm risks has received scant attention in the ...in ... See full document

... or firm-specific volatility difference across ...and firm-specific volatilities of 15 largest industries separately according to the average market capitalization over the full ...and firm-specific ... See full document

... the risk, especially be able to distinguish those that are “unintended or unanticipated” and those that are “consciously ...to risk need to be emphasized so that investors are able to make rightful ... See full document

... to idiosyncratic-risk factors: not only to idiosyncratic equity volatility, but even more to idiosyncratic bond volatility and idiosyncratic bond ...value-at-risk. ... See full document

... Earlier theoretical studies by Levy (1978) and Merton (1987) particularly focus on imperfect diversification by investors. They argue that assumptions about frictionless market or no transaction costs, complete ... See full document

... In our cross-sectional regressions, we include several control variables. Fama and French [1992] show that the book-to-market ratio (BM) and firm size (ME) are useful in explaining cross-sectional returns. ... See full document

... our risk decomposition results for pre- and post-2007 deals and reveals some interesting ...their risk components, perhaps due to market expectations that the formation of such conglomerates would benefit ... See full document

... to idiosyncratic risk during the sample period between 1990 and ...monthly idiosyncratic volatility, which is used to measure the proportion of idiosyncratic risk to total volatility ... See full document

... that idiosyncratic volatility of US stocks is negatively related to cross- sectional stock ...positive risk premium for idiosyncratic risk if they are unable to avoid it through ... See full document

... and risk comes mainly from ...and idiosyncratic risk during the financial crisis, and that the risk reduction potential of SP is mainly due to the strengths component of ...the risk ... See full document

... Table 8 reports estimation results of Equation (3) separately for firms with different levels of insider ownership and convexity of executive compensation. We use three measures of ownership. The first (top panel) uses ... See full document

... Eccles et al. (2014) find that high sustainability firms, which are more long-term oriented, have superior ESG measurement and better disclosure practices. Other researchers (Margolis and Walsh, 2003; Galbreath, 2013) ... See full document

... information transparency on idiosyncratic ...the idiosyncratic risk of financial ...bank risk management by improving corporate ... See full document

... This means that the literature on intellectual capital in explaining the concept of intellectual capital, moving from having knowledge to using knowledge, points to the fact that the relationships and processes for being ... See full document

... of risk, but poor people are also less protected against shocks (Fafchamps, 1999; Dercon, ...to risk, and this affects their long-term ...cases risk management strategies (both ex ante and ex post) ... See full document

... uninsurable idiosyncratic risk; the example is simple enough to allow for the computation of a closed-form solution that illustrates the mechanism by which a Pareto improvement may be induced after an asset ... See full document

... portfolio risk management insurance companies in Iran? Period of this study, ten years after that from 1/1/84 to 12/30/93 in ...of risk should be studied validity period is 30 to 36 (Hakimi, ... See full document

... One of the main strong points of Chaudhuri’s approach resides in the fact that it is rather straightforward to implement on various types of datasets. One limitation of this approach when it is applied to a single ... See full document

... Motivation • Welfare analysis in heterogeneous agents models with incomplete insurance against idiosyncratic risk is central to macroeconomics • Examples: welfare effects of a.... change[r] ... See full document