Transaction Costs and the Pricing of Financial Assets

I would like to thank the officers of the Multinational Finance Society and the organizers of its 4th annual conference for bringing us together in the historic city of Thessaloniki to discuss research developments in finance. Specifically, I would like to recognize the President of the Society, Geoffrey Booth, President-elect, George Philippatos, Chairman of the Board of Trustees, Panayiotis Theodossiou, Program Chair, Nickolaos Travlos, and Program Cochair, Angelos Tsaklanganos. They richly deserve a round of applause.