Open AccessPosted Content
Pension Funding, Share Prices, and National Saving
TLDR
In this article, the authors examined the effect of unfunded pension obligations on corporate share prices and discussed the implications of these estimates for national saving, the decline of the stock market in recent years, and the rationality of corporate financial behavior.Citations
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The stocks at stake: Return and risk in socially responsible investment.
TL;DR: This paper found that socially responsible investing (SRI) impacts on stock returns by lowering the book-to-market ratio and not by generating positive alphas, which is consistent with the theoretical work suggesting that SRI is reflected in demand differences between SRI and non-SRI stock.
Journal ArticleDOI
Earnings Manipulation, Pension Assumptions and Managerial Investment Decisions
Daniel Bergstresser,Joshua D. Rauh,Joshua D. Rauh,Joshua D. Rauh,Mihir A. Desai,Mihir A. Desai +5 more
TL;DR: The authors found that 25 basis point increases in assumed long-term rates are associated with 5 percent increases in equity allocations, and that increased assumed rates have a greater impact on reported earnings.
Book
Keeping the Promise of Social Security in Latin America
TL;DR: In this paper, the authors take stock of those reforms, evaluate their successes and failures, and consider the lessons that can be drawn for the future of pension policy in the region.
Book
Investment in capital markets
TL;DR: In this paper, the authors discuss the pros and cons of the financial capital investment in the capital markets, discussing the sophisticated investment concepts and techniques in the simple understandable readable general format language.
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Do a Firm's Equity Returns Reflect the Risk of Its Pension Plan?
TL;DR: In this paper, the authors examined the empirical question of whether systematic equity risk of US firms as measured by beta from the capital asset pricing model reflects the risk of their pension plans and found that it might not.
References
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Journal Article
The Cost of Capital, Corporation Finance and the Theory of Investment
TL;DR: In this article, the effect of financial structure on market valuations has been investigated and a theory of investment of the firm under conditions of uncertainty has been developed for the cost-of-capital problem.
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Determinants of corporate borrowing
TL;DR: In this article, the authors predict that corporate borrowing is inversely related to the proportion of market value accounted for by real options and rationalize other aspects of corporate borrowing behavior, such as the practice of matching maturities of assets and debt liabilities.
Book
The investment, financing, and valuation of the corporation
TL;DR: In this paper, the authors present a solution to the problem faced by corporations in determining the size and the financing of investment outlay given the profitability of the investment opportunities available, in order to determine the best investment strategy.
Journal ArticleDOI
Inflation, rational valuation, and the market
TL;DR: Inflation, Rational Valuation and the Market as mentioned in this paper : Inflation, rational valuation and the market, 1979, Vol. 35, No. 2, pp. 24-44.
Related Papers (5)
How Do Pensions Affect Corporate Capital Structure Decisions
Anil Shivdasani,Irina Stefanescu +1 more