The Experts below are selected from a list of 494973 Experts worldwide ranked by ideXlab platform
Alex Petkevich - One of the best experts on this subject based on the ideXlab platform.
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Dissecting the Bond Profitability Premium
Journal of Financial Markets, 2016Co-Authors: T. Colin Campbell, Doina Chichernea, Alex PetkevichAbstract:In contrast to prior equity market results, we document that corporate bonds issued by low Profitability firms outperform bonds issued by highly profitable firms. This performance difference is primarily driven by low Profitability, low credit rating firms. This Profitability premium is consistent with compensation for default risk and can be explained by default risk factors that include speculative-grade bonds. The impact of Profitability on equity returns depends on the relative importance of default risk and the risk of the firm׳s investments when solvent, consistent with higher Profitability signaling both lower future distress and riskier investments resulting in higher discount rates.
T. Colin Campbell - One of the best experts on this subject based on the ideXlab platform.
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Dissecting the Bond Profitability Premium
Journal of Financial Markets, 2016Co-Authors: T. Colin Campbell, Doina Chichernea, Alex PetkevichAbstract:In contrast to prior equity market results, we document that corporate bonds issued by low Profitability firms outperform bonds issued by highly profitable firms. This performance difference is primarily driven by low Profitability, low credit rating firms. This Profitability premium is consistent with compensation for default risk and can be explained by default risk factors that include speculative-grade bonds. The impact of Profitability on equity returns depends on the relative importance of default risk and the risk of the firm׳s investments when solvent, consistent with higher Profitability signaling both lower future distress and riskier investments resulting in higher discount rates.
Handyatmo Suwardy Wongso - One of the best experts on this subject based on the ideXlab platform.
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pengaruh Profitability growth size tangibility dan non debt tax shield terhadap struktur modal sektor infrastructure utilities dan transportation dan sektor property real estate contruction di bursa efek indonesia periode 2007 2010
2012Co-Authors: Handyatmo Suwardy WongsoAbstract:Penelitian ini bertujuan untuk menganalisis faktor-faktor yang mempengaruhi struktur modal. Variabel yang digunakan adalah Profitability, growth, size, tangibility, dan non-debt tax shields. Penelitian ini menggunakan pendekatan kuantitatif dengan model analisis linier berganda. Penelitian ini menggunakan sampel berupa perusahaan yang tergabung dalam sektor Infrastructure, Utilities and Transportation dan sektor Property/Real Estate/Construction yang terdaftar di PT Bursa Efek Indonesia periode 2007-2010. Jumlah sampel yang digunakan dalam penelitian ini adalah 180 observasi. Hasil penelitian menunjukkan bahwa pada sektor Infrastructure, Utilities and Transportation, variabel size, tangibility, dan non-debt tax shield tidak berpengaruh signifikan terhadap struktur modal (debt). Sedangkan variabel Profitability berpengaruh positif signifikan terhadap debt dan growth berpengaruh negatif signifikan terhadap debt. Pada sektor Property/Real Estate/Construction, variabel profiatability, growth, dan size tidak berpengaruh signifikan terhadap struktur modal (debt). Sedangkan variabel tangibility berpengaruh positif signifikan terhadap debt, dan variabel non-debt tax shield berpengaruh negatif signifikan terhadap debt.
Simon Wolfe - One of the best experts on this subject based on the ideXlab platform.
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Disentangling the impact of securitization on bank Profitability
Research in International Business and Finance, 2019Co-Authors: Mohamed Bakoush, Rabab Abouarab, Simon WolfeAbstract:We empirically evaluate the channels through which securitization impacts bank Profitability. To this end, we analyze the role played by bank risk, cost of funding, liquidity and regulatory capital in explaining the relationship between securitization and bank Profitability. We find that securitization activities tend to boost Profitability. We also show that bank risk, cost of funding, liquidity and regulatory capital individually and jointly act as transmission channels in the securitization-Profitability relationship. In addition, we break down the securitization effects on bank Profitability into direct and indirect effects and identify the contribution of each individual transmission channel in the overall impact on bank Profitability. Our findings have several implications for banks, financial markets, and regulators.
Dietrich Earnhart - One of the best experts on this subject based on the ideXlab platform.
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Effects of environmental regulation on actual and expected Profitability
Ecological Economics, 2015Co-Authors: Dylan G. Rassier, Dietrich EarnhartAbstract:The Porter hypothesis asserts that properly designed environmental regulation motivates firms to innovate, which ultimately improves Profitability. In this study, we test empirically the Porter hypothesis and the competing hypothesis that regulation undermines Profitability (“costly regulation hypothesis”). In particular, we estimate the effect of clean water regulation, as reflected in the stringency of firm-specific effluent limits for two regulated pollutants, on the Profitability of chemical manufacturing firms. As our primary contribution, we contrast the effect of clean water regulation on actual Profitability outcomes and its effects on investors' expectations of Profitability. Our results for actual Profitability are consistent with the Porter hypothesis, while our results for expected Profitability are consistent with the costly regulation hypothesis. Thus, our empirical results demonstrate that investors do not appear to value the positive effect of tighter clean water regulation on actual Profitability.
