This paper develops a simple formula for approximating Tobin's q. The formula requires only basic financial and accounting information. Results of a series of regressions comparing our approximate q values with those obtained via Lindenberg and Ross' (1981) more theoretically correct model...

Contrary to the plethora of critical articles recently appearing in both the popular and business press, this carefully controlled investigation of 49 stadium- and arena-naming-rights agreement announcements provides striking evidence that such sponsorships can significantly enhance the stock...

This study presents the first analysis of the impact of NASCAR sponsorship announcements on the stock prices of sponsoring firms. The primary finding of the study-that NASCAR sponsorship announcements were accompanied by the largest increases in shareholder wealth ever recorded in the marketing...

We present an analysis of clientele trading effects in response to the widespread dissemination of public information. Employing analyst recommendations published in The Wall Street Journal's quot;Dartboardquot; column as the informational stimulus and the NYSE's TAQ (trades and quotes)...

This study presents an analysis of the wealth effects of property-liability insurance company market pullout announcements on the shareholders of both the withdrawing firms and their major competitors. The results of the study indicate that market withdrawals are positively interpreted by...

On March 21, 2000, Aeroflex Corporation became the first company in history to voluntarily switch its equity listing from the New York Stock Exchange to the Nasdaq. This study presents a comprehensive analysis of the changes in trading dynamics observed in Aeroflex stock around the time of the...

We analyze the external funding of academic finance research. We show that funding is uncommon, particularly for U.S.-based faculty, and is related to predictable attributes of an author's reputational capital. Further, when research is funded we find it is associated with better articles, as...