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Art Durnev
Researcher at University of Iowa
Publications - 56
Citations - 6030
Art Durnev is an academic researcher from University of Iowa. The author has contributed to research in topics: Expropriation & Capital allocation line. The author has an hindex of 27, co-authored 56 publications receiving 5401 citations. Previous affiliations of Art Durnev include University of Miami & McGill University.
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To Steal or Not to Steal: Firm Attributes, Legal Environment, and Valuation
Art Durnev,E. Han Kim +1 more
TL;DR: In this article, a simple model identifies three firm attributes related to that variation: investment opportunities, external financing, and ownership structure, and finds that all three attributes are related to the quality of governance and disclosure practices and firms with higher governance and transparency rankings are valued higher in stock markets.
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Value-Enhancing Capital Budgeting and Firm-specific Stock Return Variation
TL;DR: In this paper, a robust cross-sectional positive association across industries between a measure of the economic efficiency of corporate investment and the magnitude of firmspecific variation in stock returns was found.
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Does Greater Firm-Specific Return Variation Mean More or Less Informed Stock Pricing?
TL;DR: In this article, the authors show that firms and industries with lower market model R2 statistics exhibit higher association between current returns and future earnings, indicating more information about future earnings in current stock returns.
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Does Greater Firm-Specific Return Variation Mean More or Less Informed Stock Pricing?
TL;DR: In this paper, the authors show that firms and industries with lower market model R 2 statistics exhibit higher association between current returns and future earnings, indicating more information about future earnings in current stock returns.
Journal ArticleDOI
Precarious Politics and Return Volatility
TL;DR: In this paper, the authors examine how local and global political risks affect industry return volatility and find that industries that are more dependent on trade, contract enforcement, and labor exhibit greater return volatility when local political risks are higher.