The problem concerned the financial indicators used to evaluate the financial condition of the six sister higher education institutions under the authority of the Board of Regents of Oklahoma Colleges. The purposes were to determine the financial ratios that best indicate financial condition; to...

The purpose of this article is to test empirically the impact of key executive death on the value of the firm's stock. For this purpose, data on 127 key executives who died over the period 1967 to 1981 was collected. These executives were from firms whose stocks traded on either the NYSE or the...

This study explores differences in labor availability characteristics among those living in metropolitan and micropolitan areas. Data used in this study are from surveys of adults in two adjacent Midwestern states and from three separate labor basins. Primary patterns under examination include...

The first prong of Article 82 of the EC Treaty, which prohibits abuses of a dominant position, requires, prior to the identification of abusive behaviour, evidence that the firm under scrutiny enjoys a dominant position. Surprisingly, this issue seems to be sometimes overlooked. Enforcers,...

The last ten years have seen an increasing focus from European competition authorities on articulating the theory of harm behind any competition concern. This represents a significant improvement in the enforcement of competition law. The requirement to present a theory of harm imposes a...

Using a sample of 3,688 mergers and acquisitions over the period of 1992 to 2005, we find that post-merger equity risk declines roughly 18% in the year after the announcement. We find that post-merger equity risk is negatively related to the sensitivity of CEO wealth to stock return volatility...

This study investigates the impact of Delaware law on the composition and size of the board of directors. Our empirical evidence reveals that Delaware firms have smaller and more independent boards than their non-Delaware counterparts. Given that we find no value-premium for firms that...

Not all firms that intend to go private do so successfully. A number of management buyouts are announced but subsequently withdrawn. It is documented in this study that the stock market reacts negatively to MBO withdrawal announcement. This adverse effect, however, is alleviated in firms where...

We relate the agency issues inherent in management buyouts and in earnings management. Income-reducing earnings management occurs prior to management buyouts. When insiders own small amounts of stock, outside monitoring mechanisms such as institutional ownership and Big Six audit firms reduce...