Topic: Corporate Investment
Why Corporate Leasing Practices Deserve More Respect
Most companies use asset leasing for business reasons, not accounting window dressing
The Strange Case of the Missing Stock Market Return
Investors in leveraged companies take on extra risk, but research indicates they see no offsetting return
The Role of Board-of-Directors Pay in Effective Corporate Investing
A model juggles who should suffer when a project goes awry; job market prospects of the CEO; and the quality of information shared in the boardroom
The Debt Market’s Indirect Antidote to ESG Greenwashing
Loans that include a sweetener or penalty tied to ESG performance seem to induce more honest reporting
Sorting Out Conflicts of Interest in Commercial Loan Syndicates
Syndicate voting rules reflect varying levels of trust and familiarity
Low-Quality Earnings: The Uncoupling of Stock Price from Fundamentals
Studying Chinese A and B shares reveals investor uncertainty
Looming Risk to Financial System: $1 Trillion in Commercial Loan Pools
Known as collateralized loan obligations, their aim is actually to reduce risk
Largest Firms’ Stock Gains Skew Big Picture on Worker-Owner Income Division
Wage earners get larger (relative) share at smaller companies, not at giants like Apple, Alphabet and Amazon
How Very Small Stocks Skew Investing Wisdom
Well-known market anomalies are largely absent among the biggest stocks
How to Spur Capital Spending: Plan for Failure
Companies might invest more in new ventures if they could see in advance how to redeploy the assets if things don’t pan out
How Tech’s Disruption Alters Investors’ Appetite for Risk
New technology’s upending of the old creates demand for alternative assets to offset risk
How ETFs Muffle Stock Market Feedback to Managers
The rise of passive investing leaves companies mistrusting market signals on how best to deploy capital
How Bond and Stock Prices Combine to Influence Corporate Investment
Equity volatility can encourage — or dampen — investment, depending on a firm’s bond spread
Financial Constraints on Intermediaries Cause Asset Mispricing
Real-world bond data reveals how the capital positions and liquidity of middlemen affect prices of securities they broker
Does Cross Ownership By Big Investors Make Industries Less Competitive?
Examining executive pay tied to revenue growth to identify any correlation
