In this paper we examine whether the negative excess value of stocks (stock discounts in the Berger and Ofek (1995) spirit) is associated with low excess analyst coverage over the 1979-1997 period. We define excess analyst coverage as the difference between a firm s actual analyst following and...

In this paper we examine the valuation effects and long-term performance of U.S. multinational firms involved in forced transfers of their foreign operating assets during the 1965-1988 period. The evidencesuggests that the operational hedging ability of the firm to address country risk...

This paper examines the agency conflicts between shareholders and bondholders of multinational and nonmultinational firms and provides an explanation for the puzzle that multinational firms use less long-term debtbut more short-term debt than domestic firms. Using a sample of 6,951 firm-year...

In this paper we examine the valuation effects and long-term performance of U.S. multinational firms involved in forced transfers of their foreign operating assets during the 1965-1988 period. The evidencesuggests that the operational hedging ability of the firm to address country risk...

In this paper we examine whether the negative excess value of stocks (stock discounts in the Berger and Ofek (1995) spirit) is associated with low excess analyst coverage over the 1979-1997 period. We define excess analyst coverage as the difference between a firm's actual analyst following and...