JER, 第 11 卷Hanyang Economic Research Institute in collaboration with Hanyang University College of Business and Economics, 2006 |
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第 1 到 3 筆結果,共 21 筆
第 284 頁
... cash flow is significantly lower for derivatives users . They argue that the use of derivatives stabilizes investment since hedgers are better able to reduce net cash flow volatility . 5 In contrast , the trade - off theory of capital ...
... cash flow is significantly lower for derivatives users . They argue that the use of derivatives stabilizes investment since hedgers are better able to reduce net cash flow volatility . 5 In contrast , the trade - off theory of capital ...
第 292 頁
bias . I also use the lagged cash flow term because lagged cash flows do not include cash transfers from interest rate swaps transactions and thus may proxy for unhedged cash flows . In addition , lagged cash flows do not lead to a ...
bias . I also use the lagged cash flow term because lagged cash flows do not include cash transfers from interest rate swaps transactions and thus may proxy for unhedged cash flows . In addition , lagged cash flows do not lead to a ...
第 294 頁
... cash flow - capital ratio in year t 1. Dit - 1 is a dummy variable that takes on one ( zero ) if firm i has some ( no ) outstanding interest rate swaps contract in year t - 1 . The equation is estimated with fixed effects . The sample ...
... cash flow - capital ratio in year t 1. Dit - 1 is a dummy variable that takes on one ( zero ) if firm i has some ( no ) outstanding interest rate swaps contract in year t - 1 . The equation is estimated with fixed effects . The sample ...
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analysis asset risks assume assumption capacity utilization capital stock cash flows cointegrated correlation cost currency composition currency hedge debt debt-asset ratio depreciation derivatives econometric effect EIA experts empirical environmental accidents equation equilibrium expected exponential utility firm's foreign financial assets foreign firm futures market futures prices G(st Hanyang University home and foreign home firm home government i'th currency impulse response incentive increase industry interest rate swaps investment Korea Kt+1 lagged learning-by-doing linear lobbying activity LSTAR model marginal measures non-users null hypothesis optimal subsidy output shock parameters period-1 portfolio precommit predictability price-dividend ratio probability of default production profits prospect theory Real Business Cycle regime regression relative Response of STOCK risk aversion risk exposures risk management second period significant spillover spot price standard deviation statistic stock prices stock returns strategic swap users Table Teräsvirta tion trade transition function utility function volatility