Research in Finance, Volume, Volume 21 (Research in Finance) артикул 2296d.
Research in Finance, Volume, Volume 21 (Research in Finance) артикул 2296d.

Book DescriptionA total of eleven papers in this volume represent recent research on important topics in finance The contributions include analyses of issues relating to asset prices, the behavior of stock returns, and capital-raising activities Hodges, et al employ stochastic dominance arguments to show that the efficiency of time diversification ожкпз depends on the degree of autocorrelation in security returns In their study of the announcement effects of ninety-three minority equity investments, Chan, et al find a neutral stock price response on average for acquiring firms but a significantly positive response for selling firms Nguyen, et al provide evidence on the returns structure of U S information technology stocks surrounding the bursting of the internet bubble in early 2000 In a study of the informational effects of auditor reputation, Godby and Mahar, Jr find that implied volatilities for firms audited by Andersen have increased relative to those for firms audited by other Big Five firms Charaput and Chang find that the usage of installment receipts enhances liquidity in Canadian secondary equity offerings The contributions to this volume also examine important issues in international finance and financial institutions Brailsford, et al use a VECM technique to examine Purchasing Power Parity and causality between the yen and the dollar Sarmas studies the impact of Hong Kong's fixed exchange rate system and Singapore's floating exchange rate system on the correlation betweenthe US and the two respective countries' stock markets Povel develops a theoretical model to explain multiple banking as a commitment device Baer, et al develop a model and empirically examine how the creation of a futures clearinghouse can reduce theneed for margin in bilateral and multilateral settings Roberts and Siddiqi provide an empirical analysis of the link between collateralization and the number of lenders in private debt contracts Finally, Tripp et al empirically examine the relative efficiency of single versus multiple common bond credit unions.  Пестрое простеганное2005 г ISBN 0762311614.