Browsing by Author "Lambertides, Neophytos"
Now showing items 1-20 of 21
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Article
Alternative bankruptcy prediction models using option-pricing theory
Charitou, Andreas; Dionysiou, Dionysia; Lambertides, Neophytos; Trigeorgis, Lenos (2013)We examine the empirical properties of the theoretical Black-Scholes-Merton (BSM) bankruptcy model. We evaluate the predictive ability of various existing modifications of the BSM model and extend prior studies by estimating ...
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Book
An alternative model to forecast default based on Black-Scholes-Merton model and a liquidity proxy
Dionysiou, Dionysia; Lambertides, Neophytos; Charitou, Andreas; Trigeorgis, Lenos (2008)
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Article
Analysts to the rescue?
Charitou, Andreas; Karamanou, Irene; Lambertides, Neophytos (2019)In this study we use the SEC's decision to eliminate the reconciliation requirement for cross-listed companies to examine whether this loss of information prompted financial analysts to provide more informative research ...
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Book Chapter
Bankruptcy prediction and structural credit risk models
Charitou, Andreas; Lambertides, Neophytos; Trigeorgis, Lenos (Cambridge University Press, 2008)Introduction Default is triggered by a firm’s failure to meet its financial obligations. Default probabilities and changes in expected default frequencies affect markets participants, such as investors and lenders, since ...
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Article
Distress Risk, Growth and Earnings Quality
Charitou, Andreas; Lambertides, Neophytos; Trigeorgis, Lenos (2011)We extend and complement prior work by investigating the earnings quality of firms with different financial health characteristics and growth prospects. By using three alternative measures of default likelihood and two ...
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Article
Dividend increases and initiations and default risk in equity returns
Charitou, Andreas; Lambertides, Neophytos; Theodoulou, Giorgos (2011)This study extends the Grullon, Michaely, and Swaminathan (2002) analysis by incorporating default risk. Using data for firms that either increased or initiated cash dividend payments during the 23-year period 1986-2008, ...
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Article
Dividend policy and market reaction for established dividend payers in the event of earnings reductions
Charitou, Andreas; Lambertides, Neophytos; Theodoulou, Giorgos (2011)
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Article
Earnings behaviour of financially distressed firms: The role of institutional ownership
Charitou, Andreas; Lambertides, Neophytos; Trigeorgis, Lenos (2007)Using a sample of 859 U.S. bankruptcy-filing firms over the period 1986-2004, we examine the earnings behaviour of managers during the distressed period by looking at sources of abnormal accruals prior to the bankruptcy-filing ...
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Book
Earnings management prior to bankruptcy
Charitou, Andreas; Lambertides, Neophytos (2003)
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Book
Earnings quality and financial per formance
Charitou, Andreas; Lambertides, Neophytos; Trigeorgis, Lenos (2007)
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Article
The economic consequences of the IFRS adoption on default risk
Charitou, Andreas; Karamanou, Irene; Lambertides, Neophytos (2014)
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Article
The effect of past earnings and dividend patterns on the information content of dividends when earnings are reduced
Charitou, Andreas; Lambertides, Neophytos; Theodoulou, Giorgos (2010)This study pursues two objectives: first, to provide evidence on the information content of dividend policy, conditional on past earnings and dividend patterns prior to an annual earnings decline
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Article
Growth Options and Related Stock Market Anomalies: Profitability, Distress, Lotteryness, and Volatility
Bali, Turan G.; Viva, Luca Del; Lambertides, Neophytos; Trigeorgis, Lenos (2019)We provide new evidence on the economic role of growth options behind the profitability, distress, lotteryness, and volatility anomalies. We use idiosyncratic skewness to measure growth options and estimate expected ...
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Book
Is the impact of default risk on stock returns systematic? an option pricing explanation
Charitou, Andreas; Lambertides, Neophytos; Trigeorgis, Lenos (2004)
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Article
Losses, dividend reductions, and market reaction associated with past earnings and dividends patterns
Charitou, Andreas; Lambertides, Neophytos; Theodoulou, Giorgos (2011)This paper examines investors' reactions to dividend reductions or omissions conditional on past earnings and dividend patterns for a sample of eighty-two U.S. firms that incurred an annual loss. We document that the market ...
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Article
Managerial discretion in distressed firms
Charitou, Andreas; Lambertides, Neophytos; Trigeorgis, Lenos (2007)This study examines the earnings management behaviour of 455 distressed US firms that filed for bankruptcy during the period 1986-2001. We examine (a) possible earnings management during the years prior to bankruptcy-filing, ...
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Book
On the negative association between default risk and stock returns
Charitou, Andreas; Lambertides, Neophytos; Trigeorgis, Lenos
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Book
An option-pricing explanation for a negative impact of default risk on stock returns
Charitou, Andreas; Lambertides, Neophytos; Trigeorgis, Lenos (2007)
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Book
The role of default risk and growth option factors in explaining the market value of equity
Charitou, Andreas; Lambertides, Neophytos; Trigeorgis, Lenos (2007)
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Article
The role of growth options in explaining stock returns
Trigeorgis, Lenos; Lambertides, Neophytos (2014)