Economic Freedom, Investment Flexibility, and Equity Value: A Cross-Country Study

Economic Freedom, Investment Flexibility, and Equity Value: A Cross-Country Study

Prior studies show that equity value has convex relations with earnings and book value of equity, respectively, due to growth and adaptation options (Burgstahler and Dichev 1997a; Zhang 2000). These studies, however, do not consider the role of institutions in affecting firms' ability to exerci...

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Bibliographic Details
Main Authors: CHEN, Chih-Ying, CHEN, Peter F., JIN, Qinglu
Format: text
Language:English
Published: Institutional Knowledge at Singapore Management University 2015
Subjects:
economic freedom
investment flexibility
real options
equity value
Accounting
Corporate Finance
International Business
Online Access:https://ink.library.smu.edu.sg/soa_research/1377
https://ink.library.smu.edu.sg/context/soa_research/article/2376/viewcontent/EconomicFreedomInvestmentFlexibilityEquityValue_2015.pdf
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Institution: Singapore Management University
Language: English

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https://ink.library.smu.edu.sg/soa_research/1377
https://ink.library.smu.edu.sg/context/soa_research/article/2376/viewcontent/EconomicFreedomInvestmentFlexibilityEquityValue_2015.pdf

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