Knowledge Capital and Stock Returns during Crises in the Manufacturing Sector: Moderating Role of Market Share, Tobin’s Q, and Cash Holdings
Author
Abstract
Suggested Citation
Download full text from publisher
References listed on IDEAS
- Arthur Lewbel, 2012.
"Using Heteroscedasticity to Identify and Estimate Mismeasured and Endogenous Regressor Models,"
Journal of Business & Economic Statistics, Taylor & Francis Journals, vol. 30(1), pages 67-80.
- Arthur Lewbel, 2010. "Using Heteroscedasticity to Identify and Estimate Mismeasured and Endogenous Regressor Models," Journal of Business & Economic Statistics, Taylor & Francis Journals, vol. 30(1), pages 67-80, December.
- Arthur Lewbel, 2003. "Using Heteroskedasticity to Identify and Estimate Mismeasured and Endogenous Regressor Models," Boston College Working Papers in Economics 587, Boston College Department of Economics, revised 15 Dec 2010.
- Hansen, Lars Peter, 1982. "Large Sample Properties of Generalized Method of Moments Estimators," Econometrica, Econometric Society, vol. 50(4), pages 1029-1054, July.
- MacKinnon, James G. & Nielsen, Morten Ørregaard & Webb, Matthew D., 2023.
"Testing for the appropriate level of clustering in linear regression models,"
Journal of Econometrics, Elsevier, vol. 235(2), pages 2027-2056.
- James G. MacKinnon & Morten Ørregaard Nielsen & Matthew D. Webb, 2022. "Testing for the appropriate level of clustering in linear regression models," Working Paper 1428, Economics Department, Queen's University.
- James G. MacKinnon & Morten {O}rregaard Nielsen & Matthew D. Webb, 2023. "Testing for the appropriate level of clustering in linear regression models," Papers 2301.04522, arXiv.org, revised Mar 2023.
- Calomiris, Charles W. & Love, Inessa & Martínez Pería, María Soledad, 2012. "Stock returns’ sensitivities to crisis shocks: Evidence from developed and emerging markets," Journal of International Money and Finance, Elsevier, vol. 31(4), pages 743-765.
- Kim, JooMan & Yang, Insun & Yang, Taeyong & Koveos, Peter, 2021. "The impact of R&D intensity, financial constraints, and dividend payout policy on firm value," Finance Research Letters, Elsevier, vol. 40(C).
- Frankel, Jeffrey & Saravelos, George, 2012.
"Can leading indicators assess country vulnerability? Evidence from the 2008–09 global financial crisis,"
Journal of International Economics, Elsevier, vol. 87(2), pages 216-231.
- Saravelo, George & Frankel, Jeffrey A., 2011. "Can Leading Indicators Assess Country Vulnerability? Evidence from the 2008-09 Global Financial Crisis," Scholarly Articles 5027952, Harvard Kennedy School of Government.
- Frankel, Jeffrey A. & Saravelos, George, 2012. "Can Leading Indicators Assess Country Vulnerability? Evidence from the 2008-09 Global Financial Crisis," Scholarly Articles 9642637, Harvard Kennedy School of Government.
- Frankel, Jeffrey & Saravelos, George, 2011. "Can Leading Indicators Assess Country Vulnerability? Evidence from the 2008-09 Global Financial Crisis," Working Paper Series rwp11-024, Harvard University, John F. Kennedy School of Government.
- Josue Cox & Daniel L. Greenwald & Sydney C. Ludvigson, 2020. "What Explains the COVID-19 Stock Market?," NBER Working Papers 27784, National Bureau of Economic Research, Inc.
- Gu, Lifeng, 2016. "Product market competition, R&D investment, and stock returns," Journal of Financial Economics, Elsevier, vol. 119(2), pages 441-455.
- Chang, Chong-Chuo & Yang, Han, 2022. "The role of cash holdings during financial crises," Pacific-Basin Finance Journal, Elsevier, vol. 72(C).
- Pereira, Vijay & Bamel, Umesh, 2021. "Extending the resource and knowledge based view: A critical analysis into its theoretical evolution and future research directions," Journal of Business Research, Elsevier, vol. 132(C), pages 557-570.
- Carol Corrado & Jonathan Haskel & Cecilia Jona-Lasinio & Massimiliano Iommi, 2022. "Intangible Capital and Modern Economies," Journal of Economic Perspectives, American Economic Association, vol. 36(3), pages 3-28, Summer.
- Jieun Chang & Youngho Kang, 2019.
"Instrumental Variable Estimates of the Effect of Management Practices on Firm Performance in Korean Firms,"
Journal of Labor Research, Springer, vol. 40(1), pages 106-125, March.
- Kang, Youngho & Chang, Jieun, 2014. "Instrumental Variable Estimates of the Effect of Management Practices on Firm Performance in Korean Firms," MPRA Paper 58834, University Library of Munich, Germany.
- Sha, Yezhou & Zhang, Ping & Wang, Yiru & Xu, Yifan, 2022. "Capital market opening and green innovation——Evidence from Shanghai-Hong Kong stock connect and the Shenzhen-Hong Kong stock connect," Energy Economics, Elsevier, vol. 111(C).
- Jarrad Harford & Sandy Klasa & William F. Maxwell, 2014. "Refinancing Risk and Cash Holdings," Journal of Finance, American Finance Association, vol. 69(3), pages 975-1012, June.
- Peters, Ryan H. & Taylor, Lucian A., 2017. "Intangible capital and the investment-q relation," Journal of Financial Economics, Elsevier, vol. 123(2), pages 251-272.
- Shafaat Muhammad Habib & Haroon Hussain & Mamdouh Abdulaziz Saleh Al-Faryan & Rana Yassir Hussain, 2022. "Impact of firm characteristics and ownership structure on firm efficiency: evidence from non-financial firms of Pakistan," Cogent Economics & Finance, Taylor & Francis Journals, vol. 10(1), pages 2106628-210, December.
- Hasan, Mostafa Monzur & Lobo, Gerald J. & Qiu, Buhui, 2021. "Organizational capital, corporate tax avoidance, and firm value," Journal of Corporate Finance, Elsevier, vol. 70(C).
- Paul Krugman, 1997. "Development, Geography, and Economic Theory," MIT Press Books, The MIT Press, edition 1, volume 1, number 026261135x, December.
- Guo Li & Na Li & Suresh P. Sethi, 2021. "Does CSR Reduce Idiosyncratic Risk? Roles of Operational Efficiency and AI Innovation," Production and Operations Management, Production and Operations Management Society, vol. 30(7), pages 2027-2045, July.
- Karl V. Lins & Henri Servaes & Ane Tamayo, 2017.
"Social Capital, Trust, and Firm Performance: The Value of Corporate Social Responsibility during the Financial Crisis,"
Journal of Finance, American Finance Association, vol. 72(4), pages 1785-1824, August.
- Lins, Karl V. & Servaes, Henri & Tamayo, Ane, 2017. "Social capital, trust, and firm performance: the value of corporate social responsibility during the financial crisis," LSE Research Online Documents on Economics 68059, London School of Economics and Political Science, LSE Library.
- Sanford, Anthony & Yang, Mu-Jeung, 2022. "Corporate investment and growth opportunities: The role of R&D-capital complementarity," Journal of Corporate Finance, Elsevier, vol. 72(C).
- Hegde, Shantaram P. & Mishra, Dev R., 2023. "Patented knowledge capital and implied equity risk premium," Journal of Banking & Finance, Elsevier, vol. 148(C).
- Chiu, Junmao & Chen, Chin-Ho & Cheng, Chung-Chieh & Hung, Shih-Chang, 2021. "Knowledge capital, CEO power, and firm value: Evidence from the IT industry," The North American Journal of Economics and Finance, Elsevier, vol. 55(C).
Most related items
These are the items that most often cite the same works as this one and are cited by the same works as this one.- Joye Khoo & Adrian (Wai Kong) Cheung, 2023. "Does skilled labor risk matter to suppliers? Evidence from trade credit," The Financial Review, Eastern Finance Association, vol. 58(2), pages 423-447, May.
- Hasan, Mostafa Monzur & Lobo, Gerald J. & Qiu, Buhui, 2021. "Organizational capital, corporate tax avoidance, and firm value," Journal of Corporate Finance, Elsevier, vol. 70(C).
- Ruixi Long & Shuyang Jia, 2023. "Foreground or background my social responsibility: impact of the trade war on the readability of corporate social responsibility disclosures," Information Technology and Management, Springer, vol. 24(1), pages 79-97, March.
- Provaty, Sagira Sultana & Hasan, Mostafa Monzur & Luo, Le, 2024. "Organization capital and GHG emissions," Energy Economics, Elsevier, vol. 131(C).
- Joye Khoo & Adrian (Wai Kong) Cheung, 2024. "Vintage capital and trade credit," Accounting and Finance, Accounting and Finance Association of Australia and New Zealand, vol. 64(1), pages 507-537, March.
- Peng, Daoju & Colak, Gonul & Shen, Jianfu, 2023. "Lean against the wind: The effect of policy uncertainty on a firm's corporate social responsibility strategy," Journal of Corporate Finance, Elsevier, vol. 79(C).
- Leon Zolotoy & Don O’Sullivan & Keke Song, 2021. "The Role of Ethical Standards in the Relationship Between Religious Social Norms and M&A Announcement Returns," Journal of Business Ethics, Springer, vol. 170(4), pages 721-742, May.
- Mostafa Monzur Hasan & Grantley Taylor & Grant Richardson, 2022. "Brand Capital and Stock Price Crash Risk," Management Science, INFORMS, vol. 68(10), pages 7221-7247, October.
- Kong, Dongmin & Kong, Gaowen & Liu, Shasha & Zhu, Ling, 2022. "Does competition cause government decentralization? The case of state-owned enterprises," Journal of Comparative Economics, Elsevier, vol. 50(4), pages 1103-1122.
- Todd Prono, 2008.
"GARCH-based identification and estimation of triangular systems,"
Supervisory Research and Analysis Working Papers
QAU08-4, Federal Reserve Bank of Boston.
- Todd, Prono, 2009. "GARCH-Based Identification and Estimation of Triangular Systems," MPRA Paper 20032, University Library of Munich, Germany.
- Anagnostopoulou, Seraina C. & Tsekrekos, Andrianos E. & Voulgaris, Georgios, 2021. "Accounting conservatism and corporate social responsibility," The British Accounting Review, Elsevier, vol. 53(4).
- Chintrakarn, Pandej & Jiraporn, Pornsit & Treepongkaruna, Sirimon, 2021. "How do independent directors view corporate social responsibility (CSR) during a stressful time? Evidence from the financial crisis," International Review of Economics & Finance, Elsevier, vol. 71(C), pages 143-160.
- Lewbel, Arthur, 2018.
"Identification and estimation using heteroscedasticity without instruments: The binary endogenous regressor case,"
Economics Letters, Elsevier, vol. 165(C), pages 10-12.
- Arthur Lewbel, 2016. "Identification and Estimation Using Heteroscedasticity Without Instruments: The Binary Endogenous Regressor Case," Boston College Working Papers in Economics 927, Boston College Department of Economics.
- Fay, Scott & Feng, Cong & Patel, Pankaj C., 2022. "Staying small, staying strong? Retail store underexpansion and retailer profitability," Journal of Business Research, Elsevier, vol. 144(C), pages 663-678.
- Lewbel, Arthur & Choi, Jin Young & Zhou, Zhuzhu, 2023.
"Over-identified Doubly Robust identification and estimation,"
Journal of Econometrics, Elsevier, vol. 235(1), pages 25-42.
- Arthur Lewbel & Jin-Young Choi & Zhuzhu Zhou, 2019. "Over-Identified Doubly Robust Identification and Estimation," Boston College Working Papers in Economics 1003, Boston College Department of Economics, revised 15 Jan 2022.
- Jung Ho Choi, 2021.
"Accrual Accounting and Resource Allocation: A General Equilibrium Analysis,"
Journal of Accounting Research, Wiley Blackwell, vol. 59(4), pages 1179-1219, September.
- Choi, Jung Ho, 2017. "Accrual Accounting and Resource Allocation: A General Equilibrium Analysis," Research Papers 3553, Stanford University, Graduate School of Business.
- Choi, Jung Ho, 2018. "Accrual Accounting and Resource Allocation: A General Equilibrium Analysis," Research Papers repec:ecl:stabus:3553, Stanford University, Graduate School of Business.
- Tong Fu & Ze Jian & Youwei Li, 2023. "How state ownership affects corporate R&D: An inverted‐U‐shaped relationship," International Journal of Finance & Economics, John Wiley & Sons, Ltd., vol. 28(3), pages 3183-3197, July.
- Shao, Yanmin & Xu, Kunliang & Shan, Yuan George, 2024. "Leveraging corporate digitalization for green technology innovation: The mediating role of resource endowments," Technovation, Elsevier, vol. 133(C).
- Meijer, Erik & Spierdijk, Laura & Wansbeek, Tom, 2017.
"Consistent estimation of linear panel data models with measurement error,"
Journal of Econometrics, Elsevier, vol. 200(2), pages 169-180.
- Erik Meijer & Laura Spierdijk & Tom J. Wansbeek, 2015. "Consistent Estimation of Linear Panel Data Models with Measurement Error," CESifo Working Paper Series 5164, CESifo.
- Chiu, Wan-Chien & Wang, Chih-Wei & Peña, Juan Ignacio, 2016. "Tail risk spillovers and corporate cash holdings," Journal of Multinational Financial Management, Elsevier, vol. 36(C), pages 30-48.
More about this item
Keywords
knowledge capital; economic crisis return; market share; Tobin’s Q; cash holdings;All these keywords.
Statistics
Access and download statisticsCorrections
All material on this site has been provided by the respective publishers and authors. You can help correct errors and omissions. When requesting a correction, please mention this item's handle: RePEc:gam:jrisks:v:12:y:2024:i:6:p:100-:d:1417922. See general information about how to correct material in RePEc.
If you have authored this item and are not yet registered with RePEc, we encourage you to do it here. This allows to link your profile to this item. It also allows you to accept potential citations to this item that we are uncertain about.
If CitEc recognized a bibliographic reference but did not link an item in RePEc to it, you can help with this form .
If you know of missing items citing this one, you can help us creating those links by adding the relevant references in the same way as above, for each refering item. If you are a registered author of this item, you may also want to check the "citations" tab in your RePEc Author Service profile, as there may be some citations waiting for confirmation.
For technical questions regarding this item, or to correct its authors, title, abstract, bibliographic or download information, contact: MDPI Indexing Manager (email available below). General contact details of provider: https://www.mdpi.com .
Please note that corrections may take a couple of weeks to filter through the various RePEc services.