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Three Essays in Corporate Finance.

Record Type:	Language materials, manuscript : Monograph/item
Title/Author:	Three Essays in Corporate Finance./
Author:	Li, Xinxin.
Description:	1 online resource (169 pages)
Notes:	Source: Dissertation Abstracts International, Volume: 79-09(E), Section: A.
Contained By:	Dissertation Abstracts International79-09A(E).
Subject:	Finance. -
Online resource:	click for full text (PQDT)
ISBN:	9780355864427

Three Essays in Corporate Finance.
Li, Xinxin.

Three Essays in Corporate Finance. - 1 online resource (169 pages)

Source: Dissertation Abstracts International, Volume: 79-09(E), Section: A.

Thesis (Ph.D.)--The University of North Carolina at Charlotte, 2018.

Includes bibliographical references

The first paper ("Human Capital and Investment Policy") investigates the interaction between investment policies and human capital cost. Employees may demand a higher pay to compensate for the potential job loss due to their firm's high investment risk. I find a positive and significant relation between a firm's human capital cost and investment riskiness. The findings suggest that risky investments, by contributing to an increase in human capital cost, may discourage subsequent investments. The second paper ("National Culture and Governance on Bondholder Wealth: Evidence from Joint Ventures and Strategic Alliances around the World") considers the impact of global business collaborations on the value of foreign bondholder wealth. Event study methodology reveals significant and positive abnormal returns for bondholders. Focusing on the determinants of this wealth effect, I identifies that country level governance and national culture are dominant drivers of bondholder gains. The third paper ("Capital Structure Persistency and Subsequent Equity Financing: Evidence from Zero Leverage and Levered Firms") studies financing decisions and capital structure evolution. I investigate the effects of a firm's initial and persistent all-equity or levered capital structure on its subsequent first equity financing decisions and outcomes. I find that SEOs offered by zero leverage firms may signal to the market that they are likely to maintain all-equity structure, which makes them attractive merger and acquisition target.

Electronic reproduction.
Ann Arbor, Mich. :
ProQuest,
2018

Mode of access: World Wide Web

ISBN: 9780355864427Subjects--Topical Terms:

559073
Finance.
Index Terms--Genre/Form:

554714
Electronic books.

Three Essays in Corporate Finance.
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245 1 0 $a Three Essays in Corporate Finance.
264 0 $c 2018
300 $a 1 online resource (169 pages)
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500 $a Source: Dissertation Abstracts International, Volume: 79-09(E), Section: A.
500 $a Adviser: Tao-Hsien Dolly King.
502 $a Thesis (Ph.D.)--The University of North Carolina at Charlotte, 2018.
504 $a Includes bibliographical references
520 $a The first paper ("Human Capital and Investment Policy") investigates the interaction between investment policies and human capital cost. Employees may demand a higher pay to compensate for the potential job loss due to their firm's high investment risk. I find a positive and significant relation between a firm's human capital cost and investment riskiness. The findings suggest that risky investments, by contributing to an increase in human capital cost, may discourage subsequent investments. The second paper ("National Culture and Governance on Bondholder Wealth: Evidence from Joint Ventures and Strategic Alliances around the World") considers the impact of global business collaborations on the value of foreign bondholder wealth. Event study methodology reveals significant and positive abnormal returns for bondholders. Focusing on the determinants of this wealth effect, I identifies that country level governance and national culture are dominant drivers of bondholder gains. The third paper ("Capital Structure Persistency and Subsequent Equity Financing: Evidence from Zero Leverage and Levered Firms") studies financing decisions and capital structure evolution. I investigate the effects of a firm's initial and persistent all-equity or levered capital structure on its subsequent first equity financing decisions and outcomes. I find that SEOs offered by zero leverage firms may signal to the market that they are likely to maintain all-equity structure, which makes them attractive merger and acquisition target.
533 $a Electronic reproduction. $b Ann Arbor, Mich. : $c ProQuest, $d 2018
538 $a Mode of access: World Wide Web
650 4 $a Finance. $3 559073
655 7 $a Electronic books. $2 local $3 554714
690 $a 0508
710 2 $a ProQuest Information and Learning Co. $3 1178819
710 2 $a The University of North Carolina at Charlotte. $b Business Administration. $3 1192693
773 0 $t Dissertation Abstracts International $g 79-09A(E).
856 4 0 $u http://pqdd.sinica.edu.tw/twdaoapp/servlet/advanced?query=10789084 $z click for full text (PQDT)