In recent years investment banks have drawn particular criticism for the lack of objectivity and independence in their research reports and analyst recommendations. This article argues that this conflict of interest is but one of many potential conflicts that arise as banks take advantage of the...

Despite recent innovations in entrepreneurial finance, particularly at the early stage of business creation, many new and young companies continue to face hurdles to acquire capital.The Kauffman Foundation addressed current challenges and opportunities in financing entrepreneurial growth, a key...

This paper reports the results of a unique experiment designed to assess the impact of last-sale trade reporting on the liquidity of BBB corporate bonds. We find that increased transparency has either a neutral or positive effect on market liquidity depending on trade size. Measures of trading...

We examine current areas of concern in the regulation of secondary trading markets, including questions concerning market fragmentation, protected orders, minimum tick size, maker-taker pricing models, transparency and dark liquidity, algorithmic and high-frequency trading, the duties and...

We study the trading dynamics associated with a sample of non-underwritten rights offerings by issuers that are effectively precluded from using an underwriter when issuing seasoned equity. Market microstructure evidence is consistent with shareholders and brokers actively intermediating these...

This paper presents preliminary results of statistical analysis of the Tansŏng County household registers for 1678. We focus on identifying the social class of county residents and on identifying marriages. We use a multivariate LOGIT model to estimate probabilities of marriage, both within and...

The use of structural-equation modeling (SEM) in strategic-management research has grown dramatically during recent years. Although this statistical technique offers researchers a valuable tool for testing hypothesized models, certain challenges accompany the use of SEM. The current article...