We investigate whether cross listing shares in the form of depositary receipts in overseas markets benefits investors in emerging market countries. To test our hypotheses we analyze the differential stock price responses of cross-listed (CL) and non cross-listed (NCL) firms to financial crises...

This study investigates whether valuation of restricted securities by closed-end fund managers is driven by incentives to (1) maximize current period compensation; (2) minimize the long-run probability that the fund manager does not achieve benchmark returns; or (3) smooth fund returns....

Using a broad socio-economic conception of capital markets agency relationships, this study analyzes an immportant economic transition in US economic history. It focuses on the institutional and informational changes that attended the reform of corporare governance and regulation in the railroad...

This paper investigates whether the recent clustering of defined benefit (DB) pension plan freeze announcements is motivated at least in part by accounting concerns due to the Financial Accounting Standards Board's (FASB) pending adoption of Statement of Financial Accounting Standards No. 158...