This paper explores a model based on agents with heterogenous beliefs facing short sales restrictions, and its explanation for the rise, persistence, and eventual fall of Internet stock prices. First, we document substantial short sale restrictions for Internet stocks. Second, using data on Internet holdings and block trades, we show a link between heterogeneity and price e¡ects for Internet st...

We study a newsvendor who sells a perishable asset over repeated sales seasons to loss averse consumers. We identify conditions under which the expected price can be increasing in the consumer loss aversion level, and numerically show that the firm can prefer low and moderate levels of demand variability over no demand uncertainty. Moreover, we obtain a set of counterintuitive insights on how c...

We consider a model of liquidity demand arising from a possible maturity mismatch between asset revenues and consumption. This liquidity demand can be met with either cash reserves (inside liquidity) or via asset sales for cash (outside liquidity). The question we address is, what determines the mix of inside and outside liquidity in equilibrium? An important source of inefficiency in our model...

We consider a model of liquidity demand arising from a possible maturity mismatch between asset revenues and consumption. This liquidity demand can be met with either cash reserves (inside liquidity) or via asset sales for cash (outside liquidity). The questions we address are: (a) what determines the mix of inside and outside liquidity in equilibrium? (b) does the market provide an efficient m...

Penelitian ini dilakukan di PT. Ultrajaya Milk Industri Co. Tbk yang bertujuan untuk mengetahui Total Asset Turn Over, Leverage Dan Sales Growth Terhadap Return On pada Periode 2010-2019. Data digunakan dalam penelitian adalah data sekunder bersumber dari keuangan telah dipublikasikan melalui www.idx.com. Sampel 1 perusahaan terdaftar BEI selama tahun Metode pengumpulan menggunakan metode dokum...

The purpose is to investigate the effect of account receivables and inventory conversion cycle on performance Manufacturing Firms Listed Ghana Stock Exchange. paper adopted cross-sectional study which adopts quantitative research approach. A panel data six (6) listed Ghanaian manufacturing firms exchange for periods 2011 2020 was used study. Data obtained from audited financial statements firms...

This study aims to determine, analyze and describe the effect of fixed asset intensity sales growth on tax avoidance. The method used in this research is descriptive verification with a quantitative approach which sourced from annual report food beverage manufacturing companies listed Indonesia Stock Exchange (BEI). sampling technique was using purposive technique. data obtained were analyzed s...

The purpose of this research is to analyze the effect corporate social responsibility, fixed asset intensity and sales growth on tax aggressiveness in consumer non-cyclicals sub-industry liquors, soft drinks, dairy products, processed foods manufacturing companies listed IDX. This type a quantitative research. study uses secondary data obtained from IDX website company’s website. Data collectio...