This paper presents a synthesized model explaining the returns of short-sale constrained stocks. We combine short-sale constraints that were previously treated individually or in pairs into a more fully specified model. The model is also specified in generally falling versus generally rising...

The simple mechanics of capital budgeting decision techniques are complicated by presence of mutual exclusion, project contingencies, differing risk levels, and unequal lives. This paper examines another such complexity virtually ignored by financial management textbooks but present in virtually...

We assess the effect of four short-sale constraints on stock returns in isolation and in combination, in generally falling versus generally rising markets, and considering relative effects for large/mid-cap versus small/micro-cap firms. There is substantial evidence that our more fully specified...

We analyze three short-term return metrics (Close-to-Open, Open-to-Close, and Close-to-Close) of stocks recommended by Jim Cramer on his CNBC show Mad Money. We differentiate among five different recommendations and across five different segments of the show. The objective is to determine if the...