Corporate life cycle, investment banks and shareholder wealth in M&As

2017 ◽  
Vol 63 ◽  
pp. 122-134 ◽  
Author(s):  
Kai-Shi Chuang
Keyword(s):  
Life Cycle ◽  
Shareholder Wealth ◽  
Investment Banks ◽  
Corporate Life Cycle

Governance and the Corporate Life-Cycle

2013 ◽  
Author(s):  
Thomas OOConnor ◽  
Julie Byrne
Keyword(s):  
Life Cycle ◽  
Corporate Life Cycle

Managerial Ability, Corporate Life Cycle and Dividend Payout Policy

2021 ◽  
Vol 30 (2) ◽  
pp. 1-47
Author(s):  
Hyun Soo Ryu ◽  
Saerona Kim ◽  
Gyu Dam Choi
Keyword(s):  
Life Cycle ◽  
Payout Policy ◽  
Managerial Ability ◽  
Dividend Payout ◽  
Corporate Life Cycle

Corporate Life Cycle and CEO Stock Options Grants

2005 ◽  
Author(s):  
Kiridaran (Giri) Kanagaretnam ◽  
Gerald J. Lobo ◽  
Emad Mohammad
Keyword(s):  
Life Cycle ◽  
Stock Options ◽  
Corporate Life Cycle

scholarly journals The Interplay between Working Capital Management and a Firm’s Financial Performance across the Corporate Life Cycle

2020 ◽  
Vol 12 (4) ◽  
pp. 1661 ◽  
Author(s):  
Zanxin Wang ◽  
Minhas Akbar ◽  
Ahsan Akbar
Keyword(s):  
Life Cycle ◽  
Firm Performance ◽  
Financial Performance ◽  
Life Cycle Stage ◽  
Capital Management ◽  
Working Capital ◽  
Working Capital Management ◽  
Conservative Strategy ◽  
Corporate Life Cycle ◽  
The Impact

The purpose of this study is to examine the impact of working capital management (WCM) and working capital strategy (WCS) on firm’s financial performance across different stages of the corporate life cycle (CLC). We use Pakistani non-financial listed firms nested in 12 diverse industries over a period of 2005–2014 as the research sample and employ the hierarchical linear mixed (HLM) estimator, which can process multilevel data where observations are not completely independent. The empirical findings reveal that, overall, WCM is negatively associated with firm performance. However, this association is not static across different stages of a firm’s life cycle. For example, a negative association is more pronounced at the introduction stage followed by growth and decline stages, whereas WCM does not significantly impact the performance of mature firms. Likewise, WCS also causes varying effects on the financial performance across the CLC. A conservative strategy at the introduction, growth, and decline stages negatively affects firm performance, suggesting that these firms should adopt an aggressive strategy. Nevertheless, management of sample firms did not account for the respective life cycle stage while formulating a WCM strategy, which can seriously compromise their financial sustainability. These findings suggest that firms require customized WCM policies and WCS to attain sustainable financial performance at each stage of firm life cycle. Thus, managers should not overlook the significant role of CLC stages in their financial planning to ensure the sustainable functioning of the enterprise.

The theory of the corporate life cycle

1973 ◽  
Vol 6 (2) ◽  
pp. 68-74 ◽  
Author(s):  
Barrie G. James
Keyword(s):  
Life Cycle ◽  
Corporate Life Cycle
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