Associate Professor Sigitas Karpavicius

• Biography/ Background

  Dr. Sigitas Karpavicius is an associate professor of finance at the Adelaide Business School, which he joined in 2015. Dr. Karpavicius received his PhD from the University of New South Wales in 2011. Prior to his PhD studies, he obtained MA degree in Economics and Management Science from Humboldt University in Berlin and did research at the Economics Department of the Bank of Lithuania.

• Qualifications

  BEc, MA, PhD (UNSW).

• Research Interests

  Dr. Karpavicius’ research interests are in the area of theoretical and empirical corporate finance. They include, but are not limited to, capital structure and security issues, payout policy, executive compensation, and general/partial equilibrium modelling. His research has been published in various international journals, including the Journal of Corporate Finance, Journal of Banking and Finance, and Journal of Business Finance and Accounting.

• Publications

  1. Canil, J., Karpavicius, S., and Yu, C.-F. (2023). CEO mobility and corporate payouts. Journal of Business Finance and Accounting 50: 1525-2050.
  2. Karpavicius, S., and Yu, F. (2022). Do idiosyncratic technology shocks induce peer effects? Journal of Corporate Finance 77: 102312.
  3. Canil, J., Karpavicius, S., Li, S., and Yu, C.-F. (2022). Say on mobility: Do CEO outside opportunities affect shareholder say on pay? Finance Research Letters 47, Part B: 102724.
  4. Canil, J., and Karpavicius, S. (2022). Managerial risk-taking incentives and cash holding in U.S. firms:
     Evidence from FAS 123R. International Review of Economics and Finance 78: 605-628.
  5. Cottrell, S., and Karpavicius, S. (2021). Does foreign monetary policy drive Australian banks’ wholesale funding costs? Global Finance Journal 50: 100676.
  6. Canil, J., Karpavicius, S., and Yu, C.-F. (2021). TMT gender diversity: Implications for corporate tournaments and innovation. European Journal of Finance 27, 1765-1790.
  7. Canil, J., and Karpavicius, S. (2020). Compensation consultants: Does reputation matter? Journal of Corporate Finance 64: 101633.
  8. Canil, J., Karpavicius, S., and Yu, C.-F. (2019). Are shareholders gender neutral? Evidence from say on pay. Journal of Corporate Finance 58: 169-186. (Link to animation)
  9. Karpavicius, S., and Yu, F. (2019). Managerial risk incentives and a firm's financing policy. Journal of Banking and Finance 100: 167-181.
  10. Karpavicius, S., and Yu, F. (2019). External growth opportunities and a firm's financing policy. International Review of Economics and Finance 62: 287-308.
      
  11. Canil, J., and Karpavicius, S. (2018). Are employee stock option proceeds a source of finance for investment? Journal of Corporate Finance 50: 468-483.
  12. Humphery-Jenner, M., Karpavicius, S., and Suchard, J.-A. (2018). Underwriter relationships and shelf offerings. Journal of Corporate Finance 49: 283-307.
  13. Karpavicius, S., and Yu, F. (2018). Dividend premium: Are dividend-paying stocks worth more? International Review of Financial Analysis 56: 112-126.
  14. Karpavicius, S., and Suchard, J.-A. (2018). Institutional ownership and the choice of equity issue method. International Review of Financial Analysis 56: 73-84.
  15. Karpavicius, S., and Yu, F. (2018). The impact of dividend-protected CEO equity incentives on firm value and risk. Economic Modelling 71: 16-24.
  16. Karpavicius, S., and Yu, F. (2017). The impact of interest rates on firms' financing policies. Journal of Corporate Finance 45: 262–293.
  17. Karpavicius, S., and Yu, F. (2017). How institutional monitoring creates value: Evidence for the free cash flow hypothesis. International Review of Economics and Finance 52: 127–146.
  18. Brown, A., and Karpavicius, S. (2017). The reaction of the Australian stock market to monetary policy announcements from the Reserve Bank of Australia. Economic Record 93: 20–41.
  19. Karpavicius, S., and Yu, F. (2016). Should interest expenses be tax deductible? Economic Modelling 54: 100–116.
  20. Karpavicius, S. (2014). The cost of capital and optimal financing policy in the dynamic setting. Journal of Banking and Finance 48: 42–56.
  21. Karpavicius, S. (2014). Dividends: Relevance, rigidity, and signaling. Journal of Corporate Finance 25: 289–312.

• Files

  • Figure 4 of "The impact of interest rates on firms' financing policies" paper (JCF, 2017). - Figure_4.pdf [25.8K] (application/pdf)

Entry last updated: Saturday, 11 Nov 2023

To link to this page, please use the following URL:  https://www.adelaide.edu.au/directory/sigitas.karpavicius