It sounds good when knowing the nature of managerial work in this website. This is one of the books that many people looking for. In the past, many people ask about this book as their favourite book to read and collect. And now, we present hat you need quickly. It seems to be so happy to offer you this famous book. It will not become a unity of the way for you to get amazing benefits at all. But, it will serve something that will let you get the best time and moment to spend for reading the book.

https://link.springer.com/content/pdf/10.1057%2Fjors.1974.92.pdf

The Nature of Managerial Work

Globalization, Corporate Finance, and the Cost of Capital

https://www.nber.org/system/files/working_papers/w3888/w3888.pdf

An ordered probit analysis of transaction stock prices

In this study, we investigate the extent to which firms’ environmental performance is reflected in perceptions of their environmental reputation and whether environmental disclosure serves to mediate the negative aspects of poorer environmental performance associated with those assessments. We also examine whether differences in environmental performance and environmental disclosure appear to be associated with membership selection to the Dow Jones Sustainability Index (DJSI), a factor we also believe may be associated with perceptions of environmental reputation. Based on a cross-sectional sample of 92 US firms from environmentally sensitive industries, we find that environmental performance measured using Trucost environmental performance scores is negatively related to both reputation scores and membership in the DJSI. We argue this is due to the more extensive disclosure levels of firms that are worse performers and the finding of a significant positive relation between environmental disclosure and both the environmental reputation measures and DJSI membership. Finally, we show that the DJSI designation positively influences perceptions of corporate reputation. Overall, our results suggest that voluntary environmental disclosure appears to mediate the effect of poor environmental performance on environmental reputation. Perhaps more troubling, our results also suggest that membership in the DJSI appears to be driven more by what firms say than what they do. Thus, like voluntary disclosure, the DJSI may actually be hindering improved future corporate environmental performance.

/pdf/do-actions-speak-louder-than-words-an-empirical-20euoer1mf.pdf

Do actions speak louder than words? An empirical investigation of corporate environmental reputation

This paper makes two contributions to research on the new entrepreneurial finance context of equity crowdfunding. First, we compare its regulation around the world and discuss how this impacts the development of markets. Second, we investigate the signaling role played toward external investors by equity retention and social capital. Using a sample of 271 projects listed on the UK platforms Crowdcube and Seedrs in the period 2011–2014, we find that campaigns launched by entrepreneurs (1) who sold smaller fraction of their companies at listing and (2) had more social capital had higher probabilities of success. Our results combine findings in classical entrepreneurial finance settings, like venture capital and IPOs, with evidence from other, non-equity crowdfunding markets.

Equity retention and social network theory in equity crowdfunding

We explore the relationship between corporate sustainability, reputation, and firm value by asking whether signaling sustainability leadership through membership on a recognized sustainability index is value generating. Increasingly, stakeholders are demanding that firms demonstrate their commitment to sustainability. One signal that companies can send to stakeholders to indicate that they are sustainability leaders is membership on a recognized “best in class” sustainability index. This article explores both the short-term and the intermediary impact on North American firms of being included or removed from the Dow Jones Sustainability World Index (DJSI). Our results provide evidence that being added to the DJSI results in a sustained increase in a firm’s share price, suggesting that the benefits of being included on the DJSI outweigh the costs associated with applying. This article also notes a temporary decrease in the value of firms for the first 10 days after their removal from the DJSI; however, this effect is eliminated within the next ten trading days.

Signaling Sustainability Leadership: Empirical Evidence of the Value of DJSI Membership

This paper studies the day-of-the-week effect employing Canadian stock returns from January 1, 1975 to June 30, 1989. The study finds that, as opposed to large capitalization stocks, low capitalization (thinly-traded) stocks tend to have a larger negative return on Tuesday rather than on Monday - possibly due to lags in the price adjustment of these stocks following the release of negative information. Two main issues are investigated in an attempt to explain the day-of-the-week effect and its persistence over time: (a) the role of dividends, and (b) the role of information flows. The study finds that firms are much more likely to go ex-dividend on Monday than on any other day of the week; however, after correcting for the dividend effect, Monday's returns are still significantly negative. With respect to information flows, we find evidence consistent with an information-flows-related explanation of the day-of-the-week effect, particularly with the idea that macro announcements cause negative Monday returns.

The day‐of‐the‐week anomaly: the toronto stock exchange experience

This paper examines transactions data regarding the market's reaction to 258 takeover announcements on the Toronto Stock Exchange (TSE) from 1977 to 1989. The study analyzes volatility and volume of target firm's stock during the first trading day following a takeover announcement. A cross-sectional analysis relates this intraday volatility and volume to various aspects of a takeover announcement that proxy for the certainty of payoff to shareholders. Post-announcement volatility is highest when takeover announcements involve share exchange bids which are contested. Trading volume is highest when bids are contested and involve a large initial price change.

Intraday volatility and trading volume after takeover announcements

Patient-reported outcome measures developed using Classical Test Theory are commonly comprised of ordinal level items on a Likert response scale are problematic as they do not permit the results to be compared between patients. Rasch analysis provides a solution to overcome this by evaluating the measurement characteristics of the rating scales using probability estimates. This is typically achieved using commercial software dedicated to Rasch analysis however, it is possible to conduct this analysis using non-specific open source software such a R. Rasch analysis was conducted using the most commonly used commercial software package, RUMM 2030, and R, using four open-source packages, with a common data set (6-month post-injury PRWE Questionnaire responses) to evaluate the statistical results for consistency. The analysis plan followed recommendations used in a similar study supported by the software package’s instructions in order to obtain category thresholds, item and person fit statistics, measures of reliability and evaluate the data for construct validity, differential item functioning, local dependency and unidimensionality of the items. There was substantial agreement between RUMM2030 and R with regards for most of the results, however there are some small discrepancies between the output of the two programs. While the differences in output between RUMM2030 and R can easily be explained by comparing the underlying statistical approaches taken by each program, there is disagreement on critical statistical decisions made by each program. This disagreement however should not be an issue as Rasch analysis requires users to apply their own subjective analysis. While researchers might expect that Rasch performed on a large sample would be a stable, two authors who complete Rasch analysis of the PRWE found somewhat dissimilar findings. So, while some variations in results may be due to samples, this paper adds that some variation in findings may be software dependent.

/pdf/a-comparison-of-the-polytomous-rasch-analysis-output-of-1l8k9nk2mp.pdf

A comparison of the polytomous Rasch analysis output of RUMM2030 and R (ltm/eRm/TAM/lordif)

This study identifies three main types of informal investors in private equity markets: relationship investors, opportunity‐based investors, and angel investors. We find evidence that the first two...

Michael Robinson

Papers

Signaling Sustainability Leadership: Empirical Evidence of the Value of DJSI Membership

The day‐of‐the‐week anomaly: the toronto stock exchange experience

Intraday volatility and trading volume after takeover announcements

A comparison of the polytomous Rasch analysis output of RUMM2030 and R (ltm/eRm/TAM/lordif)

Investment Patterns of Informal Investors in the Alberta Private Equity Market