Heterogeneous Effects of Monetary Policy on Industries: Evidence from Publicly Traded Firms in Peru

2021 ◽  
Author(s):  
Carlos Chavez
Keyword(s):  
Monetary Policy ◽  
Publicly Traded ◽  
Heterogeneous Effects ◽  
Publicly Traded Firms

Sectoral Effects of Monetary Policy: The Evidence from Publicly Traded Firms

2013 ◽  
Vol 79 (4) ◽  
pp. 946-970 ◽  
Author(s):  
Dennis W. Jansen ◽  
Ruby P. Kishan ◽  
Diego E. Vacaflores
Keyword(s):  
Monetary Policy ◽  
Publicly Traded ◽  
Publicly Traded Firms

scholarly journals Does Fed policy affect blockholder behavior in U.S. publicly traded firms?

2017 ◽  
Vol 14 (1) ◽  
pp. 153-159
Author(s):  
Halil D. Kaya ◽  
Nancy L. Lumpkin-Sowers
Keyword(s):  
Monetary Policy ◽  
Empirical Relationship ◽  
Nonparametric Tests ◽  
Ownership Concentration ◽  
Policy Position ◽  
Publicly Traded ◽  
Data Set ◽  
Federal Funds Rate ◽  
Total Percentage ◽  
Publicly Traded Firms

This paper documents the empirical relationship between ownership concentration and monetary policy to fill out the picture for when ownership concentration is likely to change within U.S. publicly traded firms. Our sample is drawn from the Dlugosz et al. (2006) data set for firms between 1996 and 2001. The authors explore the patterns between the Federal Reserve’s policy position and ownership concentration rather than asserting causal direction between the two. This empirical paper tests alternative theories on blockholder activism by examining whether “voice” or “exit” is more dominant under contractionary monetary policy. Using the series of same direction changes in the Federal Funds Rate to establish time periods as a proxy for monetary policy in the U.S., nonparametric tests show that there are more blockholders per firm, the sum of their blockholdings in percentage terms is higher, and the total percentage held by the blockholder in U.S. firms is greater under contractionary policy periods. This supports an active theory of blockholder behavior in corporate governance.

Economic Network of Publicly-Traded Firms

2012 ◽  
Author(s):  
Gennaro Bernile ◽  
George M. Korniotis ◽  
Alok Kumar
Keyword(s):  
Publicly Traded ◽  
Publicly Traded Firms

scholarly journals The Composition Of Corporate Boards Of Directors: Does Industry Matter?

2012 ◽  
Vol 10 (3) ◽  
pp. 157 ◽  
Author(s):  
Dan Marlin ◽  
Scott W. Geiger
Keyword(s):  
Boards Of Directors ◽  
Retail Trade ◽  
Future Research ◽  
Corporate Boards ◽  
Font Size ◽  
Corporate Board ◽  
Publicly Traded ◽  
Trade Finance ◽  
Board Characteristics ◽  
Publicly Traded Firms

<span style="font-family: Times New Roman; font-size: small;"> </span><p style="margin: 0in 0.5in 0pt; text-align: justify; mso-pagination: none; mso-add-space: auto;" class="MsoNormalCxSpFirst"><span style="color: black; font-size: 10pt;"><span style="font-family: Times New Roman;">The purpose of this study is to identify and examine differences in corporate board characteristics across four industries.<span style="mso-spacerun: yes;"> </span>Using a sample of 2592 US publicly traded firms, eleven board characteristics were identified and then examined across manufacturing, retail trade, finance/insurance, and services industries.<span style="mso-spacerun: yes;"> </span>Our analyses revealed significant differences in each of the eleven board characteristics examined.<span style="mso-spacerun: yes;"> </span>Implications and areas for future research are discussed.</span></span></p><span style="font-family: Times New Roman; font-size: small;"> </span>

scholarly journals On the estimation of the value of voting rights: Evidence from Taiwan

2006 ◽  
Vol 3 (2) ◽  
pp. 15-22 ◽  
Author(s):  
I-Hsiang Huang
Keyword(s):  
Stock Market ◽  
Abnormal Return ◽  
Market Value ◽  
Voting Rights ◽  
Publicly Traded ◽  
Private Benefit ◽  
Expected Return ◽  
Equity Ownership ◽  
Publicly Traded Firms

This paper proposes that the value of voting rights can be measured as the abnormal return of the date after the ex-voting rights date. The merit of this method is that it is applicable to all publicly traded firms. Whatever the expected return model is adopted, the vote value hypothesis of Manne (1962) is hold by using a sample of firms listed on Taiwan Stock Market whose annual shareholder meetings have a board election. Moreover, the result shows that the value of voting rights is negatively related to prior year’s market value of equity, managerial equity ownership, and return on asset. It is consistent with the hypothesis that the source of vote value comes from private benefit of control and improved management

Three essays on China's housing market, monetary policy and macroeconomy

2019 ◽  
Author(s):  
◽  
Yifeng Jia
Keyword(s):  
Monetary Policy ◽  
Housing Market ◽  
Negative Impact ◽  
House Price ◽  
Housing Price ◽  
Policy Instruments ◽  
Heterogeneous Effects ◽  
Price Appreciation ◽  
Economic Stimulus ◽  
Monetary Policy Shock

[ACCESS RESTRICTED TO THE UNIVERSITY OF MISSOURI AT REQUEST OF AUTHOR.] This dissertation studies China's housing market and macroeconomic activity with a strong focus on the role of monetary policy behind the markets. The first two chapters concentrate on the house price dynamics in China. Chapter 1 examines the in influence of monetary policy on China's housing price fluctuation by estimating a VAR model with China's aggregated house price data from 1998Q1 to 2015Q4. The monetary policy shock is identify ed by the sign restriction approach following Uhlig (2005), with the identification assumptions extended to three common policy instruments utilized by the central bank of China: interest rate, required reserve ratio and M2. The results suggest a negative impact of a contractionary monetary policy shock on the house price, and M2 tends to be the most effective monetary instruments in terms of policy transmission. The framework is also extended to examine the link between China's 2008 government economic stimulus plan and the subsequent house price appreciation. The obtained evidence suggests that the economic stimulus props up the house price, but its contribution to the post-2008 house price appreciation is not as prominent as indicated by other relevant studies. However, this discrepancy may be explained by the heterogeneous effects of the stimulus policy on local housing markets across China

Family Control, Socioemotional Wealth and Earnings Management in Publicly Traded Firms

2014 ◽  
Vol 133 (3) ◽  
pp. 453-469 ◽  
Author(s):  
Geoffrey Martin ◽  
Joanna Tochman Campbell ◽  
Luis Gomez-Mejia
Keyword(s):  
Earnings Management ◽  
Publicly Traded ◽  
Socioemotional Wealth ◽  
Family Control ◽  
Publicly Traded Firms
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