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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| Main Authors: | , , |
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| Format: | text |
| Language: | English |
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Institutional Knowledge at Singapore Management University
2015
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| Subjects: | |
| 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 |