This study investigates for the first time the effects of involuntary foreign delistings from the U.S. stock exchanges. Upon announcement of delisting, prices drop a significant 4.5% permanently. The price effects do not seem to differ significantly by various measures of differential market...

Theories are inconclusive about the various impacts of the introduction of basket securities on the underlying stocks. We explore those effects for the first time around the launch of options on exchange traded funds (ETF), employing the listing of the options on the S&P 500 Depository Receipts...

Although the item set exam format is used extensively in professional certification exams, it has not been widely adopted in academia. The item set exam can be viewed as an alternative to multiple choice exams or essay exams, sharing some of the strengths and weaknesses of both formats. An item...

The mathematics behind many psychometric measures is similar to the mathematics in portfolio theory. Faculty often build exams based on judgment and experience and only use psychometric tools after an exam is administered. An obvious question is, can portfolio optimization models be used to...

Wealth taxes have been adopted or considered as an adjunct to existing tax systems such as income taxes, property taxes, and consumption taxes. Discussions about a wealth tax are usually a mixture of political, social, and economic issues, with many of the published papers designed to serve an...

While financial statement analysis is a rich tool, there is no widely used holistic measure of the amount of change in corporate financial statements. Statistical decomposition analysis has been employed as an index of the amount of change, but has fallen into disuse because it does not allow...

Choosing appropriate peer groups for bank research is important to evaluate safety and soundness, merger effects, and overall performance. We use commercial bank financial statements with common size variables as the inputs to a cluster analysis model to identify clusters or groups of banks with...

We employ the forward-looking implied dividend information contained in option prices to predict dividend cuts and omissions during the recent financial crisis. The large number of dividend cuts and omissions during the 2008-09 financial crisis period provides the opportunity to study the...

The recharacterization option allows IRA owners who convert a traditional IRA into a Roth IRA to choose the better of Roth or traditional treatment (for tax purposes) after returns are known. The authors used option-pricing models to estimate the value of this option and examined strategies to...

The British Petroleum (BP) Deepwater Horizon drilling rig exploded in the Gulf of Mexico on April 20, 2010, leading to an unprecedented environmental and financial disaster. This paper details responses in the financial markets for BP securities, including ADRs, bonds, options, and credit...