Explains that Canada is currently deciding whether to harmonize with US or international accounting standards and whether to allow Canadian SEC registrants to file their financial statements using US standards, outlines previous research on the information content of US/Canadian differences and...

Reviews previous research on the impact of changes in exchange rates on firm value and develops hypotheses on the effect of exchange rate exposure on US pharmaceutical firms 1990‐1999. Tests them using data from 523 firms (21 producing proprietary drugs and 32 generic) splite into two...

Summarizes previous research on the links between multinationality and earnings persistence and presents a study which applies the autoregressive, integrated, moving‐average time series model to 1990‐1999 data on the largest US multinationals. Explains the methodology and presents the...

Refers to previous research on the firm characteristics which affect the relationship between unexpected returns and unexpected earnings to suggest that multinationality may proxy for all of them. Develops mathematical models to investigate the effect of multinationality and applies them to...

Refers to previous research on deciding the balance between equities and bonds in investment portfolios and puts forward a model based on a single period correlation to predict future stock‐bond correlations from past interest and growth rates. Explains the concepts involved and uses...

Explains the rating system for US municipal bonds and its effect on borrowing costs, reviews relevant research and provides a study of the factors affecting grading by rating agencies in Virginia using 1995 data. Explains the methodology and presents the results, which identify five significant...

Notes the popularity of index funds with US investors, refers to research on fund performance compared with indexes and presents a study comparing daily returns of S&P 500 index funds with the index itself. Explains the methodology and presents the results, which show that the funds “fall well...

Reports that under a third of the increasing numbers of US citizens needing long‐term care (LTC) in a nursing home pay their own fees; and that Medicaid (health programme for the poor) meets over half of LTC costs. Describes the rules applied to qualify for Medicaid LTC payments, the growth of...