The CCFin blog

Firms’ capital structure dynamics, market competition, and industry dynamics 15 February 2021

by Shiqi Chen, Research Associate, Cambridge Centre for Finance and Cambridge Endowment for Research in Finance Debt-equity conflict is undoubtfully one of…

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Do firm locations affect stock prices? 19 January 2021

by Dr Mehrshad Motahari, Research Associate, Cambridge Centre for Finance and Cambridge Endowment for Research in Finance A large body of literature…

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The rise of the special purpose acquisition company 18 December 2020

by Dr Sunwoo Hwang, Research Associate, Cambridge Centre for Finance and Cambridge Endowment for Research in Finance 2020 has been the year…

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Welfare implications of bank valuation disagreement 25 November 2020

by Dr Hormoz Ramian, Research Associate, Cambridge Centre for Finance and Cambridge Endowment for Research in Finance Regulatory interventions have always been…

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Machine learning challenges in finance 23 October 2020

by Dr Mehrshad Motahari, Research Associate, Cambridge Centre for Finance and Cambridge Endowment for Research in Finance Dr Mehrshad Motahari Machine learning…

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Contingent employment and innovation 24 September 2020

by Dr Sunwoo Hwang, Research Associate, Cambridge Centre for Finance and Cambridge Endowment for Research in Finance There has been a rapid…

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Negative interest rate: the interaction between monetary and financial regulatory policies 31 August 2020

by Hormoz Ramian, Research Assistant, Cambridge Centre for Finance and Cambridge Endowment for Research in Finance The negative interest rate has been…

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Managerial commitment and long-term firm value 28 July 2020

by Dr Adelphe Ekponon and Dr Scott Guernsey, Research Associates, Cambridge Centre for Finance and Cambridge Endowment for Research in Finance Dr…

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Can robots beat the market? 16 June 2020

by Dr Mehrshad Motahari, Research Associate, Cambridge Centre for Finance and Cambridge Endowment for Research in Finance Dr Mehrshad Motahari The growing…

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Early coronavirus evidence on finance 11 May 2020

Early-stage finance research exploring the impact of COVID-19 on important financial outcomes such as household spending and investor expectations, by Dr Scott…

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Are cryptocurrencies priced in the cross-section? A portfolio approach 15 April 2020

Dr Adelphe Ekponon Most papers, that study determinants of cryptocurrency prices, find no relation to existing market factors. In a work-in-progress, CCFin/CERF…

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Artificial intelligence in asset management: hype or breakthrough? 11 February 2020

by Dr Mehrshad Motahari, Research Associate, Cambridge Centre for Finance and Cambridge Endowment for Research in Finance Dr Mehrshad Motahari Artificial intelligence…

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Understanding the cross-section of international equity markets 21 January 2020

Dr Argyris Tsiaras A large literature in international finance has established the relevance of a wide array of frictions in financial investments…

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The shareholder value of stakeholder orientation 20 December 2019

by Dr Scott B. Guernsey, Research Associate, Cambridge Centre for Finance and Cambridge Endowment for Research in Finance Dr Scott B. Guernsey…

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Is debt financing by firms good for economic growth? 20 November 2019

by Dr Adelphe Ekponon, Research Associate, Cambridge Centre for Finance and Cambridge Endowment for Research in Finance Dr Adelphe Ekponon In addition…

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Scholarship scheme at the Cambridge Endowment for Research in Finance 15 November 2019

Applications are invited for doctoral funding for up to three years starting in October 2020 from the Cambridge Endowment for Research in…

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Market gamblers to blame? 16 October 2019

by Dr Mehrshad Motahari, Research Associate, Cambridge Centre for Finance and Cambridge Endowment for Research in Finance Dr Mehrshad Motahari The Nobel…

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Fintech disruption: is it good or bad for consumers? 26 September 2019

Dr Scott B. Guernsey Financial technology ("fintech") is a rapidly growing industry that applies recent digital innovations and technology-enabled business model innovations…

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Agency conflicts and costs of equity 3 September 2019

The agency problem, in the context of separation in ownership (shareholders or the principals) and control (managers or the agents), is one…

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What determines cryptocurrency’s expected return? 6 August 2019

by Dr Hui (Frank) Xu, Research Associate, Cambridge Centre for Finance and Cambridge Endowment for Research in Finance Dr Hui (Frank) Xu…

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Shadow pills and visible value 2 July 2019

Dr Scott B. Guernsey The "poison pill" (formally known as a "shareholder rights plan") has a long and contentious history in the…

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Keeping secrets from creditors 26 March 2019

Dr Scott B. Guernsey As described in the article "The Choice between Formal and Informal Intellectual Property: A Review", published in the…

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Long-term economic outlook and equity prices 27 February 2019

by Dr Adelphe Ekponon, Research Associate, Cambridge Centre for Finance and Cambridge Endowment for Research in Finance Dr Adelphe Ekponon The very…

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Brexit: investor paranoia and the financing cost of firms 22 January 2019

Financial markets faced a bumpy ride in 2018. The Financial Times report that global bond and equity markets shrank $5tn last year.…

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Reinvesting market power for the betterment of shareholders 10 December 2018

Dr Scott B. Guernsey On the supply side, highly competitive industries are generally characterised as having many firms and low barriers to…

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Guaranteed bonuses in high finance: to reward or retain? 7 November 2018

by Dr Scott B. Guernsey, Research Associate, Cambridge Centre for Finance and Cambridge Endowment for Research in Finance Public distaste for high…

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Is diversification always good? 6 November 2018

Probably every Fin 101 class teaches the principle of diversification: do not put all your eggs in one basket. Diversification allows investors…

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Alternative finance (The Cambridge Judge Business Debate podcast series) 10 October 2018

We've heard all the buzz phrases, ranging from 'peer-to-peer lending' to 'cryptocurrencies'. But behind the hype, what exactly is alternative finance, and…

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Some recent developments in mathematical finance 29 August 2018

by Dr Alex S.L. Tse, Research Associate, Cambridge Centre for Finance and Cambridge Endowment for Research in Finance A few weeks ago…

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How (in)efficient is the stock market? 19 July 2018

by Dr Yuan Li, Research Associate, Cambridge Centre for Finance and Cambridge Endowment for Research in Finance In 2013, the Nobel committee…

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The granular effect of stock market concentration on market portfolio volatility 12 June 2018

Dr Jisok Kang, Research Associate, Cambridge Centre for Finance and Cambridge Endowment for Research in Finance Ever since the Capital Asset Pricing…

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Are analysts whose forecast revisions correlate less with prior stock price changes better information producers and monitors? 27 April 2018

by Dr Yuan Li, Research Associate, Cambridge Centre for Finance and Cambridge Endowment for Research in Finance Financial analysts are important information…

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What caused the leverage cycle run-up to 2008 financial crisis? 1 March 2018

by Dr Hui (Frank) Xu, Research Associate, Cambridge Centre for Finance and Cambridge Endowment for Research in Finance The 2008 financial crisis…

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Transaction costs, consumption and investment

by Dr Alex S.L. Tse, Research Associate, Cambridge Centre for Finance and Cambridge Endowment for Research in Finance The theoretical modelling of…

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Book-to-market ratio and inflexibility: the effect of unrecorded R&D capital 21 December 2017

by Dr Yuan Li, Research Associate, Cambridge Centre for Finance and Cambridge Endowment for Research in Finance R&D investment has been playing…

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What causes the executive pay gap between public and private firms? 24 November 2017

Jisok Kang, a CERF Research Associate at the Cambridge Centre for Finance (CCFin), and his coauthors, Kee-Hong Bae and Albert Tsang, investigate…

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“Because everyone else was doing it.” 19 October 2017

by Dr Hui (Frank) Xu, Research Associate, Cambridge Centre for Finance and Cambridge Endowment for Research in Finance After the 2008 financial…

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“Value & Profit”: new book by Geoffrey Whittington published August 2017 22 September 2017

Cambridge University Press has recently published a new book by Geoffrey Whittington, Honorary Senior Research Associate at the Cambridge Centre for Finance…

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What are bubbles? 15 August 2017

Dr Qiusha Peng of the Cambridge Centre for Finance (CCFin) explains what bubbles mean to those in the financial world. Accompanying the…

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Does anchoring impede investors’ interpretation of earnings news? 4 August 2017

by Dr Yuan Li, Research Associate, Cambridge Centre for Finance and Cambridge Endowment for Research in Finance In his best-selling book, Thinking,…

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Our social interactions are informative of our investment decisions 3 August 2017

When we are investing, we don't mindlessly copy our peers, according to new research carried out by Cambridge Centre for Finance (CCFin)…

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Does the stock market benefit the economy? 2 August 2017

A research project carried out by a Research Associate at the Cambridge Centre for Finance (CCFin), Jisok Kang, and his co-author, Kee-Hong…

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