This paper compares the changes in implied volatilities of options on Nasdaq 100 and Russell 2000 value and growth portfolios. Following Stein (1989) and Heynen, Kemna, and Vorst's (1994), we assume mean reversion, GARCH and EGARCH models for volatility. The empirical evidence using put options...

Textbook theory posits that multinational firms are large and diversified and should have higher debt capacity. In contrast, debt capacity of such firms can be expected to be lower because of the additional risks of foreign operations. This puzzle is unresolved by the empirical literature. Also,...

Recently, concerned with enhancing our supervision of self- employed youth, we investigated the situation of small businesses run by self-employed youth in Wuxi City. We have had extensive meetings with all levels of business associations, self-employed workers' associations (SEWAs), tax and...

The financial rates of return from Latin American stock and currency markets are found to be non-normal, non-stationary, non-ergodic and long-term dependent, i.e., they have long memory. The degree of long- term dependence is measured by monofractal (global) Hurst exponents from wavelet...

Chapter 1 of the dissertation investigates the firms’ restructuring choice betweenminority carve-outs and tracking stocks using samples during 1990-2001. The extracompensation from the restructured units, the liquidity conditions, and the preservation ofsynergy are the significant factors...

In this paper, we examine factors influencing the choice between tracking stocks and minority carve-outs and their performances. We expand the research in this field by incorporating a fa ctor that was largely ignored in extant literature: managerial entrenchment. We find that the following...

Chapter 1 of the dissertation investigates the firms' restructuring choice between minority carve-outs and tracking stocks using samples during 1990-2001. The extra compensation from the restructured units, the liquidity conditions, and the preservation of synergy are the significant factors...

This paper aims to present an investigation into the operational performance of a novel heat pump assisted solar façade loop-heat-pipe (LHP) water heating system using both theoretical and experimental methods. This involved (1) development of a computer numerical model; (2) simulation of the...

The existence of stationary Markov perfect equilibria in stochastic games is shown in several contexts under a general condition called "coarser transition kernels". These results include various earlier existence results on correlated equilibria, noisy stochastic games, stochastic games with...

Energy crisis and environment deterioration are two major problems for 21st century. Thermoelectric device is a promising solution for those two problems. This review begins with the basic concepts of the thermoelectric and discusses its recent material researches about the figure of merit. It...