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Recent Submissions

  • Chang, Kiyoung; Kang, Eun; Li, Ying (Journal of Business Research, 2016-07)
    This study examines the effect of institutional ownership on dividend payouts through the lens of agency theory. We hypothesize that only institutions with certain traits are likely to monitor. Monitoring institutions will ...
  • Rauterkus, Andreas; Ramamonjiavelo, Zo; Munchus, George (Journal of Insurance and Financial Management, 2018-02-05)
    This study examines the impact of credit union risk characteristics and macroeconomic events on deposits. Looking at a sample of credit unions from 2004-2008 we find that credit union depositors do not consistently punish ...
  • Chang, Kiyoung; Kang, Eun; Li, Ying (Applied Economics Letters, 2014-01-08)
    We provide empirical evidence that support both ‘outcome’ and ‘substitute’ models of agency theories related to cash holding. Local long-term institutional investors are associated with lower excess cash in firms with less ...
  • Sun, Qi (Oil, Gas & Energy Quarterly, 2013-06)
    In this study, I examine the use of internally generated cash flows by oil and gas companies, and whether oil and gas companies over-invest in the presence of free cash flow. I find that oil and gas companies with positive ...