International Journal of Managerial Finance: Volume 20 Issue 2

Dividend policy and firm liquidity under the tax imputation system in Australia

Min Bai, Yafeng Qin, Feng Bai

The primary goal of this paper is to investigate the relationship between stock market liquidity and firm dividend policy within a market implementing the tax imputation system…

Is corporate digital transformation a tax haven?

Wanyi Chen, Fanli Meng

Corporate digital transformation (CDT) has challenged traditional tax administration systems. This study examines the impact of CDT on tax avoidance behavior and tests whether tax…

Corporate fraud and industry peer effects on IPO underpricing

Darshana Palkar

Existing studies suggest that negative impacts emanating from corporate fraud revelations may diffuse to other firms through lower trust and lower market participation. Extending…

Strategic working capital management in response to a performance shock: evidence from the NOx Budget Trading Program

Paula Hearn Moore, Ben Le, Donna L. Paul

This paper examines how manufacturing firms impacted by the nitrogen oxides (NO_x) Budget Trading Program (NBP) strategically managed working capital to release funds for increased…

Identifying the risk culture of banks using machine learning

Abena Owusu, Aparna Gupta

Although risk culture is a key determinant for an effective risk management, identifying the risk culture of a firm can be challenging due to the abstract concept of culture. This…

Geopolitical risk and corporate tax behavior: international evidence

Vishnu K. Ramesh, A. Athira

This study examines the association between geopolitical risk (GPR) and corporate tax, which is a major source of revenue for the government and a significant explicit cost for…

Do emerging market corporates mimic the payout policy of peers?

Neeraj Jain, Smita Kashiramka

This study aims to investigate the effects of peers on corporate payout policies in one of the largest emerging markets – India. It also examines the motives for mimicking payout…

Does the S&P index effect differ between large and small company stocks?

Ernest N. Biktimirov, Yuanbin Xu

The purpose of this study is to compare market reactions to the change in the demand by index funds between large and small company stocks by examining the transition of the S&P…

Deglobalization and the value of geographic diversification: evidence from Brexit

Abongeh A. Tunyi, Tanveer Hussain, Geofry Areneke

This paper aims to explore the value of geographic diversification in the context of deglobalization, drawing evidence from a quasi-natural experiment – the Brexit referendum that…

The impact of CEO attributes on corporate decision-making and outcomes: a review and an agenda for future research

Christiana Osei Bonsu, Chelsea Liu, Alfred Yawson

The role of chief executive officer (CEO) personal characteristics in shaping corporate policies has attracted increasing academic attention in the past two decades. In this…

How does management respond to stock price crashes?

Suvra Roy, Ben R. Marshall, Hung T. Nguyen, Nuttawat Visaltanachoti

The purpose of this study is to investigate (1) how managers respond to stock price crashes, (2) why they respond and (3) how their responses affect shareholders.