... Publishing Limited 2011 Financial flexibility Financial risk Liquidity Capital structure France Financial flexibility (FF) represents the ability of a firm to respond effectively to unanticipated shocks to its cash flows or its investment opportunities. Managers around the world identify...

... liquidity around voluntary earnings disclosures in France. Unlike financial statements disclosures, quarterly earnings and earnings forecasts are isolated events that can be evaluated by the market with less noise. Faten Lakhal can be contacted at: lakhal@univ‐paris12.fr © Emerald Group Publishing...

... of leverage, albeit at a low rate. Antoniou et al. (2002) conclude that firms in France, Germany and the UK adjust their debt ratio to attain their target capital structure. The abnormal returns following the announcement of debt or equity issues is thus more easily associated with an information...