Warren Buffett warns that the current cap ratio of U.S. stock market capitalization to real GDP seems to be much higher than the long-run average benchmark.

Corporate cash management The empirical corporate finance literature suggests four primary motives for firms to hold cash. These motives include the tra

Many U.S. large public corporations spend their tax cuts on new dividend payout and share buyback but not on new job creation and R&D innovation. These

AYA Analytica free finbuzz podcast channel on YouTube March 2019 In this podcast, we discuss several topical issues as of March 2019: (1) Sargent-Wallac

U.S. fiscal budget deficit hits $1 trillion or the highest level in 7 years. The current U.S. Treasury fiscal budget deficit rises from $779 billion to $1.0

Internal capital markets and financial constraints Duchin (JF 2010) empirically finds that multidivisional firms with robust internal capital markets ret