In this paper we use a new method to rank finance journals. Traditionally, journal qualities are measured either by the citation-based impact factor approach, or by the survey method. Although these two approaches have merits, their efficacy is also limited in many ways. Author Affiliation Index...

This paper investigates the determinants of variations in the yield spreads between Japanese yen interest rate swaps and Japan government bonds for a period from 1997 to 2005. A smooth transition vector autoregressive (STVAR) model and generalized impulse response functions are used to analyze...

This paper analyzes the asymmetric impacts of various economic shocks on swap spreads under distinct Fed monetary policy regimes. The results indicate that (a) during periods of aggressive interest rate reductions, slope of the Treasury term structure accounts for a sizeable share of the swap...

We examine the extent to which security analysts are homogeneous in their effect on firm valuation as measured by Tobin's Q. Earlier research documents a significant and positive relation between analyst coverage and firm valuation. We identify three classes of equity analysts and examine their...

This paper studies the investment recommendations made by brokerage and non-brokerage firms in an effort to examine the differential agency costs across three unique recommendation production environments. Using the ACE database, recommendation production environments are categorized into...

This paper uses a nonlinear simultaneous equation methodology to examine how managerial ownership relates to risk taking, debt policy, and dividend policy. The results have implications for our understanding of agency costs. We find risk to be a significant and positive determinant of the level...

This study documents the existence of mean reversion in three classes of preferred stock and high grade corporate bond returns. The lack of mean reversion in high grade preferred stock returns is consistent with the argument that high grade preferred stock resembles high grade corporate bonds...

We examine the relation between risk and ownership structure among depository institutions. The empirical results provide evidence that the relation between ownership by managers and various measures of depository institution risk is negative and significant suggesting that as managerial...

In this paper we use a new method to rank finance journals and study the pattern of authorship/co-authorship across journals. Author Affiliation Index is a cost-effective and intuitively easy-to-understand approach to journal rankings. We define Author Affiliation Index as the ratio of articles...

Academic institutions are ranked on a global scale in terms of finance literature productivity. US institutions are dominant in academic publishing although European and Asian institutions have improved significantly in recent years. Additionally, we study the relationship between the quality of...