This study proposes two rational models to reconcile the enigma regarding the inconsistent bond pricing that results among bonds with the same ratings. First, we apply a nonlinear utility function to the expected utility theory and observe different expected utilities for senior bonds and...

In the “Global Leadership and Organizational Behavior Effectiveness" (GLOBE) Research Program (House et al., 2004; Chokkar et al., 2007), research collaborators around the world studied leadership attributes by first grouping 62 societies around the world into 10 country clusters based on their...

The main purpose of this paper is to investigate the impact of the 2007 financial tsunami on the Taiwanese financial market. We find that, although significant for banks, security firms, and insurance companies, the effect was relatively lower if compared with that in Europe and the United...