This paper investigates whether U.S. regulatory actions around reverse mergers have exerted any spillover effects on the Chinese firms listed in China and whether Chinese firms have exhibited lower financial reporting quality than their U.S. counterparts. To test the possible spillover effect,...

This paper introduces the concept of false and misleading statements or omissions regarding companies in the bio-pharmaceutical industry, based on court decisions. Due to essential problem of stock market, “asymmetry of information,” if company’s public statements about material...

Tiny changes in the American monetary policy can have dramatic effects on the rest of the world because of dollar's double role of national and international currency. This is the Triffin dilemma. The paper shows how it works through three examples: price of commodities, dollarization, and the...

I provide evidence that fund managers who overweight firms with the most differentiated products ('monopolies') exhibit a superior risk-adjusted performance. This is consistent with information advantages due to a better understanding of qualitative information on a firm's competitive...

Research Summary: Firm size has long been recognized as a source of competitive advantage. However, the disruptions arising from the knowledge-based global economy are decoupling the link between firm size and profitability. We demonstrate in this article, the structural shifts and evolving...

In order to examine non-linear predictability of the US and Japanese dividend-yield ratio, smooth transition regression model analysis is applied to an extended time period of data. The theoretical basis for investigating non-linear behaviour in stock returns can be based on the interaction...

China's young securities markets are at an all time high and attracting investors the world overworldwide who are eager to ride the progress to fortune. However, the Shanghai and Shenzhen markets also display high volatility, often jaggedly lurching up and down rather than rising at steady...

In early 2004, the Presidential study group, - a bipartisan commission of statesmen, diplomats, legislators, scholars, and experts - was conveyed to examine the state of the Middle East and the effectiveness of U.S. policy in advancing U.S. interests in that region. According to the report it...

We examine the pricing trends in the online toy markets by using panel data regression models with error components and serial correlation. Our results indicate that both online branch of multi-channel retailers (OBMCRS) and dotcoms charge similar prices on average, and that over time their...

Despite extensive research interest in the last decade, the banking literature has not reached a consensus on the impact of bank mergers on deposit rates. In particular, results on the dynamics of deposit rates surrounding bank mergers vary substantially across studies. In this paper, we aim for...