The role of steam coal was constrained by the Kyoto Protocol and the Copenhagen Climate Summit which call for reduced emissions of green house gases and related measures. These agreements increase the importance in properly managing emissions. Coupled with rapidly increasing demand from China...

Collateralized bonds have been developed and sold by investment bankers in place of zero-coupon bonds to raise funds for companies facing cash flow problems. Additional bonds are issued and proceeds are deposited in an escrow account to finance the coupon payment. Our analysis indicates that a...

There has been very limited evidence about the impact of index derivatives on the informativeness of the underlying stocks' prices, despite its empirical nature. We explore this issue in this study, employing the introduction of the S&P 100 options. We find that, net of the market, the...

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,...

This study applies a simple and powerful nonlinear unit-root test proposed by Sollis (2009) to test the validity of long-run Purchasing Power Parity (PPP) for Germany's real exchange rate <italic>vis-à-vis</italic> its trading partner countries. The empirical results indicate that PPP holds for Germany relative...

This study applies the Sequential Panel Selection Method (SPSM) procedure proposed by Chortareas and Kapetanios (2009) to test the validity of long-run Purchasing Power Parity (PPP) for a sample of East Asian countries over the period March 1985 to September 2011. SPSM classifies the whole panel...

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,...