Determinants of ADR's idiosyncratic risk are examined from the perspective of undiversified investors. Since ADRs enjoy a unique status, vis-agrave;-vis US companies, we study whether determinants of their risk, derived from a two-stage regression model, are different from the one for U.S. firms....

There is a significant ever-growing controversy about the role of R&D in the corporate decision-making structure for the US markets. R&D results have been found to be lack-luster creating erosion of trust in the value of R&D in American corporate world. This study sheds light on the relationship...

This article explains how the Energy Policy Act of 1992 had impacted electric utilities in the United States. Three time periods were used reflecting data pre- and post-deregulation to better assess the effects that could have arisen from the Act. The cross-sectional data consists of 34 electric...

This study investigates the long-run stochastic properties of real estate assets by geographical breakdown. We also study their linkages with financial assets. The initial tests find that almost all property types exhibit the presence of nonstationarity. Thus, cointegrated methodologies are...