This study focuses on what can be characterized as “black spots” in the existing studies the selection issue, which is manifested in the fact that a nontrivial number of companies occasionally do not have any debt on their balance sheet. The problem of zero debt is akin to truncated and censored regression models, which are useful when the dependent variable is observed in some ranges but not i...

Purpose – Economic and financial crises are very frequent in th world nowadays. Real Estate Investment Trusts were emerged as a solution to the liquidity sustainable growth problems faced by real estate its related sectors. The stock market performances or ratio of REITs became important for individual corporate investors investitage, analyse understand their positions. This study was conducted...

many ophthahnological problems, with this treatise on the bacteriology of the e}re is quite the best work he has done and every Englishspeaking ophthalmic surgeon is under a debt of gratitude to Mr. Macnab for rendering it into excellent English and placing it within his reach in his own tongue. In a general medical paper such as the Indian Medical Gazette it is hardly necessary to review so we...

Acknowledgments We gratefully acknowledge the comments of Sudipta Basu, Christian Leuz and Jerry Zimmerman, the referee, and workshop participants at the Universities of Amsterdam and Chicago. We are grateful for financial support from the University of Chicago, Graduate School of Business. Abstract We provide a simple test of " costly contracting " and " value relevance theories " of accountin...

shank a debt of gratitude, not only for the clear and admirable treatment of the subject which he has presented to them, but also for the elaborate and necessarily expensive illustrations. As regards Photography of Bacteria, we doubt whether the very moderate price charged for the book will cover the primary expense in producing it; the work must be, in some degree at least, looked upon as a fr...

We find evidence that a significant part of the surge in the spreads of the PIGS countries in the Eurozone during 2010-11 was disconnected from underlying increases in the debt to GDP ratios, and was the result of negative market sentiments that became very strong since the end of 2010. We also find evidence that after years of neglecting high government debt, investors became increasingly worr...

We first study the characteristics of the crisis and its impacts on Taiwanese and Korean economies. We have examined 22 macroeconomic fundamentals, such as inflation rates, government budget, trade balance, external debt, money supply, and ratios of average monthly imports and cumulative inward portfolio investment to international reserves, and compared with an extensive data set of the two co...

Author Contact: David E. Giles, Dept. of Economics, University of Victoria, P.O. Box 1700, STN CSC, Victoria, B.C., Canada V8W 2Y2; e-mail: [email protected]; Phone: (250) 721-8540; FAX: (250) 721-6214 Abstract We model the durations between firms’ “Initial Public Offerings” (IPOs) and their subsequent “Seasoned Equity Offerings” (SEOs) in China during the period from 1 January 2001 to 1 July 2006...

The Tax Cuts and Jobs Act (TCJA), effective on December 22, 2017, is the most comprehensive overhaul of U.S. tax code in last 30 years. Historically, when corporate rates are high, interest deduction debt greater, thereby reducing firms’ taxable income. However, with new reforms significantly rates, deductibility no longer as favorable. In this paper, effect TCJA ratios analyzed. authors ...