Managerial Finance: Volume 50 Issue 8

Determinants of bank’s dividend policy: a life cycle theory test in Indonesia

Setiawan Setiawan, Sugeng Wahyudi, Harjum Muharam

This research attempts to examine bank dividend policy in Indonesia by applying the life cycle theory of dividends.

The effect of United States commercial airport rate-setting methods on airport bond ratings

Bahareh Golkar, Siew Hoon Lim, Fecri Karanki

A major source of external funding for US airports comes from issuing municipal bonds. Credit rating agencies evaluate the bonds using multiple factors, but the judgments behind…

Is the exchange rate exposure puzzle really a puzzle? International evidence

Chu-Sheng Tai

Given the difficulties in finding significant exchange rate exposure in the extant literature, this paper attempts to resolve the so-called “exposure puzzle” by investigating…

Revenue concentration and capital structure

Alex Meisami, Sung-Jin Park, Mohammad Meysami

We conducted this study to examine the relationship between revenue concentration and a firm's financial leverage. We aimed to analyze whether revenue concentration influences a…

On the (In)efficiency of gold and bitcoin: impact of COVID-19

Satish Kumar

We aim to examine the impact of COVID-19 on the efficiency of Gold and Bitcoin returns. In particular, our efficiency tests are based on the popular calendar anomaly, the…

Understanding debt financing decisions in family firms – Are there new insights from the recent literature?

Sonia Sánchez-Andújar, Purificación Parrado-Martínez, María Comino-Jurado

Considering the important development that research on debt financing decisions of family firms (FFs) has undergone in recent years, we aim to assess the current state of the…

Controlling shareholders, their incentives and corporate governance ratings

Hsueh-Tien Lu

This study aims to facilitate the development of a better understanding of how controlling shareholders respond to the mandatory system of corporate governance rating (CGR) for…

The prospect theory and the idiosyncratic risk-return linkage: a quantile regression approach for Vietnam’s stock market

Ho Hoang Gia Bao, Thi Hai Ly Tran, Thi Thu Hong Dinh

This paper scrutinizes the relationship between idiosyncratic risks and stock returns at different quantiles, especially the extremely low and high ones, to explore the…