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Two Essays on Ownership and Market Characteristics

Chen, Honghui - 1999

Theoretical models suggest that ownership structure may be an important determinant of securities' market characteristics. For example, the presence of informed traders leads to greater bid-ask spreads (Copeland and Galai (1983), and Glosten and Milgrom (1985)), and strategic trading of informed...

Persistent link: https://www.econbiz.de/10009434106

Does CEO Duality Matter: An Integrative Approach

Kwok, Julia Shuk Ying II - 1998

Some firms allow their CEO to hold the position of Chair of the Board of Directors while other firms choose to split those two positions between two different individuals. This dissertation first examines whether agency control mechanisms, agency problems, and other firm characteristics are...

Persistent link: https://www.econbiz.de/10009433798

OPTIMAL BOND REFUNDING: EVIDENCE FROM THE MUNICIPAL BOND MARKET

Priyadarshi, Samaresh - 1997

<HTML><HEAD><META HTTP-EQUIV="Content-Type" CONTENT="text/html; charset=windows-1252"></HEAD><BODY><FONT FACE="Book Antiqua"><P ALIGN="JUSTIFY">This dissertation empirically examines refunding decisions employed by issuers of tax-exempt bonds. Callable bonds contain embedded call options by virtue of provisions in bond indentures that permit the issuing firm to buy back the bond at a predetermined strike price. Such an embedded American...</p></font></body></head></html>

Persistent link: https://www.econbiz.de/10009434140

Two Essays on Asset Pricing

Hur, Jungshik - 2007

This dissertation consists of two chapters. The first chapter shows that the measurement errors in betas for stocks induce corresponding measurement errors in alphas and a spurious negative covariance between the estimated betas and alphas across stocks. This negative covariance between the...

Persistent link: https://www.econbiz.de/10009433962

Financial management : principles and applications

Keown, Arthur J. (contributor) - 2005 - 10. ed., Internat. ed.

Persistent link: https://www.econbiz.de/10004797555

Chapter 11 reorganization policy and the economic viability of filing firms

Rodgers, Kimberly Jo Guthrie - 2000

The purpose of this study is to establish empirical proxies for the economic viability of firms in financial distress and to ascertain their role in reorganization policy. The data suggest that firms with stronger pre-bankruptcy operating performance, higher pre-bankruptcy leverage, and higher...

Persistent link: https://www.econbiz.de/10009430461

Firm performance following S&P 500 additions

Yu, Yun - 2001

The purpose of the present study is to investigate whether information can partly explain the price increases associated with the S&P 500 Index additions. We examine the earnings performance of newly added firms for the period after additions. Firms newly added to the S&P Index do not exhibit an...

Persistent link: https://www.econbiz.de/10009430770