Liquidity is an important attribute of an asset that investors would like to take into consideration when making investment decisions. However, the previous empirical evidence whether liquidity is a determinant of stock return is not unanimous. This dissertation provides a very comprehensive...

We provide evidence supporting Rubinstein's (1973) model that if returns are not normal, measuring risk requires more than just measuring covariance. Higher order systematic co-moments should be important to risk-averse investors who are concerned about the extreme outcomes of their investments....

By using a pilot license as a proxy for the sensation-seeking personality trait, we examine the relation between sensation-seeking CEOs and trade credit. With a sample of pilot CEOs and non-pilot CEOs from U.S. listed firms from 1993-2016, we find strong evidence that firms led by pilot CEOs are...

The purpose of this paper is to examine the linkage between FDI and trade in the case of Vietnam. To investigate this issue, firstly, we attempt to find out the causality relationship between FDI and trade of Vietnam, including exports and imports. Secondly, we try to find out the determinants...

This paper is the first to study the relation between financial restatements and restatement firms’ demand for trade credit as a source of financing. Using a sample of U.S.- listed firms for the 2000–2016 period, we find that restatement firms tend to use more trade credit in the year...

We provide evidence supporting Rubinstein's (1973) model that if returns are not normal, measuring risk requires more than just measuring covariance. Higher-order systematic comoments should be important to risk-averse investors who are concerned about the extreme outcomes of their investments....

We study the relative positions of M1 and M2 in light of their relationships with four U. S. equity exchanges: S&P500, Dow Jones Industrial, Nasdaq, and Wilshire 5000 composite. It is demonstrated that a long-term equilibrium relationship does indeed exist. Short-run dynamics are also considered...

We examine the impact of accounting restatement announcement on firms’ value and information asymmetry for both auction market (NYSE-AMEX) and dealer market (NASDAQ) using a public sample of restatement announcements from 1997 to 2005. In both markets, we document economically and...