scholarly journals Determinants of dividend behaviour in select indian companies - an empirical analysis

2013 ◽  
Vol 1 (1) ◽  
pp. 24-31
Author(s):  
Mohanraj V ◽  
Sounthri S
Keyword(s):  
Empirical Analysis ◽  
Cash Flow ◽  
Empirical Result ◽  
Flow Model ◽  
Firm Level ◽  
Cross Sectional ◽  
Dividend Policies ◽  
Indian Context ◽  
Main Determinants ◽  
Sectional Analysis

This study examines the Corporate Dividend Behaviour in the Indian context through Lintner‘s dividend model,Brittain‘s Cash Flow Model and Btittain‘s explicit Dividend Model. Results of this study will be uselful for designing dividend policies at the firm level and to analyze the saving behaviour at the macro level. The high dividend paying companies listed in NSE constitute the sample for the present study carried out as cross-sectional analysis for the year 2001-02 to 2011-12. The empirical result shows that the main determinants of current dividends are the Lagged Dividend and Current Earnings.

Dead Hand Proxy Puts and Hedge Fund Activism

2018 ◽  
Vol 54 (4) ◽  
pp. 1615-1642
Author(s):  
Sean J. Griffith ◽  
Natalia Reisel
Keyword(s):  
Cash Flow ◽  
Hedge Fund ◽  
Cost Benefit ◽  
Free Cash Flow ◽  
Cross Sectional ◽  
Flow Problems ◽  
Banking Relationships ◽  
Hedge Fund Activism ◽  
The Cost ◽  
Sectional Analysis

We investigate the Dead Hand Proxy Put, a contractual innovation in corporate debt agreements that may impact hedge fund activism. We find the provision principally in loans, not bonds, and provide evidence linking the adoption of the provision to hedge fund activism. Furthermore, controlling for endogeneity, we find that the provision significantly reduces the cost of loans. Bondholder wealth also increases. Moreover, cross-sectional analysis of share returns reveals that the provision is positively associated with repeat banking relationships and negatively associated with free cash flow problems, suggesting a cost-benefit tradeoff.

scholarly journals Parental and self-reported dietary and physical activity habits in pre-school children and their socio-economic determinants

2014 ◽  
Vol 18 (2) ◽  
pp. 275-285 ◽  
Author(s):  
Mercedes Sotos-Prieto ◽  
Gloria Santos-Beneit ◽  
Stuart Pocock ◽  
Juliana Redondo ◽  
Valentín Fuster ◽  
...  
Keyword(s):  
Physical Activity ◽  
Fast Food ◽  
Economic Status ◽  
Controlled Trial ◽  
Activity Patterns ◽  
Cross Sectional ◽  
Economic Determinants ◽  
Main Determinants ◽  
Cluster Randomized ◽  
Sectional Analysis

AbstractObjectiveTo assess the agreement between self-reported and parent-reported dietary and physical activity habits in children; and to evaluate the socio-economic determinants of healthier habits (Mediterranean diet and physical activity) among children.DesignCross-sectional analysis of children recruited to a cluster-randomized controlled trial (Program SI!). Information about children’s and parents’ dietary and physical activity habits was obtained through validated questionnaires (Program SI! questionnaires, Kidmed, Krece Plus and Predimed scores).SettingTwenty-four schools in Madrid, Spain.SubjectsChildren (n 2062) aged 3–5 years and their parents (n 1949).ResultsThere was positive agreement between parental- and self-reporting for three of the six children’s habits examined. Parents’ dietary and physical activity patterns were associated with those of their children. The main determinants of higher scores in children were higher parental age, the mother’s scores, Spanish origin and higher awareness of human health (P<0·005). Children from parents with a low educational level had lower odds for scoring positively on items such as using olive oil (OR=0·23; 95 % CI 0·13, 0·41) and not skipping breakfast (OR=0·36; 95 % CI 0·23, 0·55), but higher odds for meeting the recommendations for consuming pulses (OR=1·71; 95 % CI 1·14, 2·55). Other habits being influenced by parental socio-economic status included the consumption of vegetables, fish, nuts, avoidance of fast food, and consumption of bakery products for breakfast.ConclusionsChildren’s habits may be influenced by their parents’ health awareness and other socio-economic characteristics. These findings suggest that intervention strategies, even in very young children, should also target parents in order to achieve maximum success.

The Effect of Deregulation on Employee Earnings: Pilots, Flight Attendants, and Mechanics, 1959–1992

ILR Review ◽  
1996 ◽  
Vol 49 (2) ◽  
pp. 223-242 ◽  
Author(s):  
Pierre-Yves Crémieux
Keyword(s):  
Flight Attendants ◽  
Firm Level ◽  
Cross Sectional ◽  
Long Run ◽  
Airline Deregulation ◽  
Level Data ◽  
Negative Effect ◽  
Long Term Trends ◽  
Sectional Analysis

Previous studies of the effect of the 1978 Airline Deregulation Act on employee earnings have reported mixed results: some have found no negative long-run effect of deregulation and others have found a negative effect of up to 10%. Most of these studies relied on cross-sectional analysis of a few years' data. This paper, in contrast, examines the long-term trends in airline earnings, based on 34 years of newly collected firm-level data from the Department of Transportation's Form 41 and airline workers' unions. The author finds that although deregulation had no statistically significant effect on the earnings of mechanics, it strongly affected the earnings of flight attendants and pilots. Flight attendants' earnings were at least 12% lower by 1985 and 39% lower by 1992 than they would have been if deregulation had not occurred, and the corresponding shortfalls for pilots were 12% and 22%.

scholarly journals The Amount of Shares Held by Chaebol’s Other Affiliated Firms and Affiliated Firm's OwnershipControl Disparity: A Cross-Sectional Analysis

2007 ◽  
Vol 8 (2) ◽  
pp. 1-10
Author(s):  
Jae-Hyung Lee ◽  
Myung Hoon Yi
Keyword(s):  
Corporate Governance ◽  
Cash Flow ◽  
Cross Sectional ◽  
Dependent Variables ◽  
Net Assets ◽  
Sectional Analysis ◽  
The Relationship ◽  
Disparity Index ◽  
Ownership Control ◽  
Voting Right

We examine the relationship between the amount of shares held by Chaebol’s other affiliated firms and affiliated firm's ownership-control disparity. To this end, the ownership-control disparity equations are estimated with the ownership-control disparity index and the voting right leverage index as dependent variables, using cross-sectional data on 78 affiliated firms in Chaebols in 2005. These Chaebols are controlled by the ceiling on the total amount of holding shares of other affiliated firms in Chaebol. The estimation results with the ownership-control disparity index indicate that the increase in the amount of shares held by Chaebol’s other affiliated firms deepens the ownership-control disparity. And the amount of net assets and the amount of cash flow mitigate the ownership-control disparity. The estimation results of the voting right leverage index are almost the same as those of the ownership-control disparity index. We also find that the ownership-control disparity index is more elastic than the voting right leverage index with respect to the amount of shares held by Chaebol’s other affiliated firms. Overall, these empirical findings suggest that the ceiling on the total amount of holding shares of other affiliated firms in Chaebol can contribute to the desirable corporate governance.

scholarly journals Competitiveness influence on global innovation of nations: a cross-sectional analysis

2021 ◽  
Vol 12 (4) ◽  
pp. 964-978
Author(s):  
Ronaldo Leão De Miranda ◽  
Luís Fernando Irgang dos Santos ◽  
Giancarlo Gomes ◽  
Iara Regina Dos Santos Parisotto
Keyword(s):  
Linear Regression Analysis ◽  
Main Tool ◽  
Multiple Linear Regression Analysis ◽  
Sustainable Competitive Advantage ◽  
Cross Sectional ◽  
Global Competitiveness ◽  
Global Innovation ◽  
Main Determinants ◽  
Sectional Analysis ◽  
And Training

Innovation has been recognized as one of the main determinants of nation’s economic development and has been adopted as a main tool for adding value and achieving sustainable competitive advantage. In order to understand the influence of global competitiveness on global innovation of nations, this study analyzed some indexes of 133 countries using a multiple linear regression analysis. The results suggested that global competitiveness influences the innovativeness of nations significantly and positively. Higher education and training was the competitiveness indicators that most influenced in innovation of nations.

Cash flow volatility and investor sentiment

2017 ◽  
Vol 43 (2) ◽  
pp. 178-192 ◽  
Author(s):  
Subramanian Rama Iyer ◽  
Joel T. Harper
Keyword(s):  
Cash Flow ◽  
Negative Relationship ◽  
Investor Sentiment ◽  
Firm Characteristics ◽  
Cross Sectional ◽  
Content Type ◽  
Cash Flow Volatility ◽  
Sectional Analysis ◽  
The Relationship ◽  
Better Than

Purpose The purpose of this paper is to test whether investors take flight to safety when sentiment is low. In other words, do safe firms perform better than risky firms following periods of low sentiment. Design/methodology/approach Using cash flow volatility and the percent of bullish investors as proxies for risk and investor sentiment the paper tests the relationship between sentiment and returns conditional on risk this performance. Second, a cross-sectional analysis is conducted based on individual firm characteristics and sentiment to explain annual returns. Findings The paper finds that there is a negative relationship between investor sentiment and the return of risky companies, which is contrary to prior studies. All told, risky companies perform worse following periods of high investor sentiment. Originality/value This paper presents evidence contrary to extant literature and that there is no concerted flight to safety. Investor sentiment has little influence on safe stocks.

Discussion: “Who Uses Interest Rate Swaps? a Cross-Sectional Analysis”

1998 ◽  
Vol 13 (3) ◽  
pp. 201-205 ◽  
Author(s):  
Catherine M. Schrand
Keyword(s):  
Cash Flow ◽  
Empirical Studies ◽  
Cash Flows ◽  
Data Availability ◽  
Financial Accounting Standards Board ◽  
Cross Sectional ◽  
Explanatory Variables ◽  
Cash Flow Volatility ◽  
Capital Market Imperfection ◽  
Sectional Analysis

In recent years, there have been numerous empirical studies of derivatives use because of new data availability that resulted from requirements for annual report disclosures about derivatives activities of nonfinancial firms ( Financial Accounting Standards Board Statements Nos. 105 and 119). Many of these studies test predictions from models of optimal hedging. These models suggest that the use of derivatives to reduce volatility in cash flows is optimal, even though it is costly, when the firm faces even greater exogenous or endogenous costs associated with cash flow volatility. Each of the models assumes the existence of a capital market imperfection that makes cash flow volatility costly. A common approach to testing these models is to examine the cross-sectional variation in the characteristics of firms that use derivatives (or use more derivatives). The explanatory variables represent firm characteristics that the author predicts are related to the proposed costs of volatility that the firm can reduce by hedging.

Do Targeted Trade Sanctions Against Chinese Technology Companies Affect US Firms? Evidence from an Event Study

2021 ◽  
pp. 1-14
Author(s):  
Jeffrey S. Allen
Keyword(s):  
Stock Returns ◽  
Event Study ◽  
Model Uncertainty ◽  
Firm Value ◽  
Firm Level ◽  
Cross Sectional ◽  
The Us ◽  
Us Government ◽  
Trade Sanctions ◽  
Sectional Analysis

Abstract This article asks how costly targeted trade sanctions imposed by the US government are for domestic firms. I argue that, as a result of sanctions, the firm value of US companies that have supply relationships with sanctioned entities is likely to suffer from lost revenue, reputational damage, and business model uncertainty. I test this expectation by applying an event study to the important case of targeted trade sanctions against Chinese technology companies. I find that sanctions against these companies reduced their US suppliers’ risk-adjusted stock returns by 220 basis points. Firm-level cross-sectional analysis shows that businesses with stronger ties to the sanctioned entities are more negatively affected, which supports the direct connection between sanctions and relevant suppliers. Measuring the domestic economic ramifications of sanctions for the sender country has been elusive. These findings, which are statistically and economically significant, indicate that US companies face notable costs from sanctions against internationally active firms.

Ultramicrotomy as a Technique for Materials Specimen Preparation

1990 ◽  
Vol 48 (2) ◽  
pp. 428-429
Author(s):  
S.R. Glanvill
Keyword(s):  
Materials Science ◽  
Structural Information ◽  
Specimen Preparation ◽  
Preparation Technique ◽  
Cross Sectional ◽  
Surfaces And Interfaces ◽  
Beam Analysis ◽  
Flat Embedding ◽  
20 Nm ◽  
Sectional Analysis

This paper summarizes the application of ultramicrotomy as a specimen preparation technique for some of the Materials Science applications encountered over the past two years. Specimens 20 nm thick by hundreds of μm lateral dimension are readily prepared for electron beam analysis. Materials examined include metals, plastics, ceramics, superconductors, glassy carbons and semiconductors. We have obtain chemical and structural information from these materials using HRTEM, CBED, EDX and EELS analysis. This technique has enabled cross-sectional analysis of surfaces and interfaces of engineering materials and solid state electronic devices, as well as interdiffusion studies across adjacent layers.Samples are embedded in flat embedding moulds with Epon 812 epoxy resin / Methyl Nadic Anhydride mixture, using DY064 accelerator to promote the reaction. The embedded material is vacuum processed to remove trapped air bubbles, thereby improving the strength and sectioning qualities of the cured block. The resin mixture is cured at 60 °C for a period of 80 hr and left to equilibrate at room temperature.

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