Although the item set exam format is used extensively in professional certification exams, it has not been widely adopted in academia. The item set exam can be viewed as an alternative to multiple choice exams or essay exams, sharing some of the strengths and weaknesses of both formats. An item...

Viaticals are life insurance settlement contracts where the investor purchases a life insurance policy from a terminally ill policyholder. In these cases, the present value of the policyholder’s cash flows is substantially above the cash surrender value and below the face value of the policy....

This study investigates the shareholder wealth effects of voluntary foreign delistings for the first time using a sample of U.S. firms delisted voluntarily from Japan. Using conventional event study methodology, we find no significant price changes following the delisting events, consistent with...

Intro -- EQUITY ASSET VALUATION -- CONTENTS -- PREFACE -- THE CFA PROGRAM -- ACKNOWLEDGMENTS -- ABOUT THE CFA INSTITUTE INVESTMENT SERIES -- THE TEXTS -- CHAPTER 1 OVERVIEW OF EQUITY SECURITIES -- LEARNING OUTCOMES -- 1. INTRODUCTION -- 2. EQUITY SECURITIES IN GLOBAL FINANCIAL MARKETS -- 3....

We investigate possible reasons for voluntary delistings by U.S. firms from the Tokyo Stock Exchange from 1982 to 2005. We find that the small shareholder base, as measured by low turnover, for U.S. stocks in Japan helps to explain the voluntary foreign delistings. This finding is consistent,...