more motivated to build a strong corporate culture. To explore this issue further, we execute additional analysis as follows. First, we explore an alternative proxy for firm size. Instead of the log of
(1.0194) (1.2270) (1.3836) (2.1719) (1.6506) Lagged expense ratio 4.0369*** 2.4117** 9.3810* 11.1106 5.4918 (1.2164) (1.0703) (4.9741) (7.0673) (3.4045) Log of lagged fund size -2.3615*** -2.9985** -3.6426
). Time-varying rare disaster risk and stock returns. Journal of Financial Economics, 101(2), 313–332. Bernanke, B. S. (1983). Irreversibility, uncertainty, and cyclical investment. The Quarterly Journal of
Tax Shield (NDT) Tobin Q Dividend Yield (DY) Corporate Governance Score (CG) Natural Log. Total Asset (Size) Tobin Q Turn over Ratio (TUR) ROE (Return on Equity) Endogeneity 1. What is the relationship
day. References Acock, A.C. (2013), Discovering Structural Equation Modeling Using Stata, Stata Press, Texas. Anderson, K. and Brooks, C. (2006), “Decomposing the price-earnings ratio”, Journal of Asset
ของ หลกัทรพัยอ์า้งองิ d1 = [log( S X) + (r + σ2 2 )T] σ√T d2 = d1 − (σ√T) N(k) = ความน่าจะเป็นสะสม (Cumulative Probability) ของการแจกแจงแบบปกตมิาตรฐาน ณ ระดบั k Γ = ∂2C ∂S2 = ∂2P ∂S2 2.1 การบริหารความ
Tan M.L. (1999) “A Test of The Persistence in the Perfor- mance of UK Managed Funds,” Journal of Business, Finance, and Accounting, 26(5&6): 559-593. Annuar, M.N., Shamsher, M. and Ngu, M.H. (1997
will be Where did the 4% rule come from Bengen, William P. 1994. “Determining Withdrawal Rates Using Historical Data.” Journal of Financial Planning, vol. 7: 171–180. 12 For illustrative purposes only
). Retirement Saving Over the Life Cycle: Evidence from a Developing Country. Journal of Aging & Social Policy, 1-18. Primary tax-advantaged saving vehicles % of total long-term/retirement savings Note: Data on
A String of Earnings Increases, Future Earnings Uncertainty, and Firm Fundamentals* Sarayut Rueangsuwan † Kasetsart University, Thailand August 2015 Abstract Prior literature on meeting or beating earnings benchmarks extensively documents that market rewards firms reporting a string of consecutively earnings increases. To date, it is still unclear what an earnings string really means. This paper empirically provides rational explanations for this phenomenon by investigating whether the increment...