This paper investigates the effect of correlation and volatilities of firm and project cash flows on the choice of project finance. I use a pure-play approach to measure unobservable project cash flows for a sample of 440 US and non-US firms that invested in 577 projects from 1990 to 2008 and...

The purpose of this thesis is to determine US firms’ motivations for foreign direct investment and to explore to what extent US firms continue to invest into China and India. I first correlate the agricultural, industrial, and service sectors in the United States with those of China and India....

The relationship between earnings, savings and retirement is well-known, however the linkage between labor market outcomes and financial market performance is generally unacknowledged. We examine the implications of the link between labor markets and financial markets for workers who save money...

This paper examines whether favorable information conveyed by stock split announcements transfers to non-splitting firms within the same industry. We find that there exists intra-industry reaction; shareholders of non-splitting firms experience significant positive abnormal returns during the...

This paper examines whether favorable information conveyed by stock split announcements transfers to non-splitting firms within the same industry. We find that there exists intra-industry reaction; shareholders of non-splitting firms experience significant positive abnormal returns during the...

This study examines the systematic risk present in major crops for the United States andthree corn-belt states. An index of commodities is used in conjunction with cash receiptsto generate dynamic estimates of the systematic risk for each crop and state. In our study,we find that beta estimates...

This paper examines the relationship between beta risk and realized stockindex return in the presence of oil and exchange rate sensitivities for fifteen countriesin the Asia-Pacific region using the international factor model. Thirteen of the 15countries have the expected beta signs and show...

This thesis is a collection of three essays in empirical studies on derivatives. In the first chapter, I investigate whether credit default swap spreads are affected by how the total risk is decomposed into the systematic risk and the idiosyncratic risk for a given level of the total risk. The...

We investigate the impact of five recent terrorist attacks on equities listed on the Australian Stock Exchange. Following the Global Industry Classification Standard, we analyse how these events affect the different sectors in Australia. Using parametric and non-parametric tests, we investigate...

The purpose of this study is to analyze the role of macroeconomic variables of Bank Indonesia Certificate (SBI) and Exchange Rate on systematic risk (BETA) in the banking sector. This type of research is quantitative research and based on the level of explanation. Data analysis method used is...