We test the hypothesis that the information content of dividend change announcements, as reflected in stock prices, is directly related to the degree of pre-announcement information asymmetry in the stock. The dividend change announcements include initiations, large increases, large decreases,...

This study investigates the effects of' institutional ownership on the debt policy and managerial ownership of the firm. Earlier literature on the agency model of the firm widely recognizes that the use of managerial stock ownership and external debt play an important role in limiting agency...

A number of authors have examined the publishing activity in finance journals. Generally, these articles examine the total number of articles published by an author. This procedure gives a rating advantage to authors who have been in the academic market for longer periods of time. Lifetime...

This paper reconsiders the empirical work of Tanzi which examines the link between nominal interest rates and expected inflation. Tanzi did not undertake a direct test of the Darby relationship, as a result of a specification flaw. This paper provides evidence correcting for this flaw. It still...

We test the hypothesis that the information content of dividend change announcements, as reflected in stock prices, is directly related to the degree of pre-announcement information asymmetry in the stock. The dividend change announcements include initiations, large increases, large decreases,...

This paper reports survey results regarding leasing practices of small firms. Small firms that lease are more likely to be relatively large manufacturing firms which exhibit higher debt ratios and higher sales growth. The survey responses as well as empirical analyses of pertinent data reveal...