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We consider a model that provides insight into the well-known Folk theorem in economics that when the discount factor beta is sufficiently close to 1, expropriation will never occur. Although this Folk theorem is true in our model, our perspective is different. The discount factor beta often is...
Persistent link: https://www.econbiz.de/10009430924
public, being beyond all but specially trained accountants and finance professionals. …The study methodology has three parts: a descriptive analysis of sample documents; a survey of finance directors …. The CAFR model needs to be simplified, organized better, and common language used. GASB, the Government Finance Officers …
Persistent link: https://www.econbiz.de/10009431370
Financial regulations require publicly traded firms to disclose firm-specific information relating to their financial performance as well as forecasts of future prospects disclosed to anyone outside the firm. Profit warnings present important market information as to the recent past firm...
Persistent link: https://www.econbiz.de/10009431391
This dissertation examines the stock price behavior of newly public firms following two separate events, acquisition announcements and a large single day price change. For the first essay on overreaction, the changes in both liquidity and information are considered in studying the stock price...
Persistent link: https://www.econbiz.de/10009431404
This dissertation examines the pricing behavior of exchange traded funds (ETFs) in three essays. (1) The Overreaction of International ETFs, (2) Fragmentation of Night Markets, and (3) The Impact of the Creation of the QQQ on the Underlying Securities. The overreaction study examines the role of...
Persistent link: https://www.econbiz.de/10009431405
Since the early 1990s there has been a substantial increase both in mergers and acquisitions (M&A) as well as in divestitures of high-tech companies. This dissertation examines the takeover and divestiture activity in high-tech markets in an effort to extend our current knowledge regarding...
Persistent link: https://www.econbiz.de/10009431408
This dissertation analyzes the financial history of the U.S. airline industry from the perspectives of earnings, dividends, risk and capital structure. The airline industry is chosen because of its transition from economic regulation to competition. Within the area of earnings, I examine the...
Persistent link: https://www.econbiz.de/10009431411
Despite extensive research, the rationale behind firms' decision to issue convertible debt is still unknown. On average, results indicate that the market reacts more negatively to new convertible debt issues of companies with higher cash ratios. Hence, I test whether convertible issuers are...
Persistent link: https://www.econbiz.de/10009431412
This dissertation analyzes the impact of takeover defenses and cancellations in three essays: (1) The Impact of the Strength of Targets' Takeover Defense Mechanisms on Acquiring Firms; (2) The Impact of the Announcement of Shareholder-Friendly Poison Pill Provisions on Shareholder Wealth; and...
Persistent link: https://www.econbiz.de/10009431419
Researchers of Initial Public Offerings, IPOs, have, traditionally, filtered out low-priced stocks with cut-off prices depending on individual study. This study examines underpricing, short- and long-run performance of one special class of such low-priced stocks. I examine IPOs filed for and...
Persistent link: https://www.econbiz.de/10009431420