The literature has considered the market's response to the stocks of commercial airline carriers after their flights are involved in accidents. The aircraft manufacturer stock price, in the wake of a crash, has received considerably less attention in the literature. We analyze this response over...

Theories of CSR value under a real-option framework suggest that the payment of dividends serves as an opportunity cost. Two resulting predictions are that: 1) the payment of dividends restricts the ability to spend on CSR and 2) the value of CSR spending is lower for dividend paying firms. We...

We propose a generalized, practitioner-oriented operating-leverage model for predicting operating income using net sales, cost of sales, depreciation, and SG&A. Prior research links operating income directly to these items; hence, our model includes all aggregate revenues and expenses that...

We examine the payout policy of U.S. firms over the period 1980–2008. Prior research indicates that firm characteristics, managerial preferences, and investor clienteles are all important factors in setting payout policy. Counter to the oft-reported positive relation between senior citizens...

We examine the payout policy of U.S. firms over the period 1980-2008. Prior research indicates that firm characteristics, managerial preferences, and investor clienteles are all important factors in setting payout policy. Counter to the oft-reported positive relation between senior citizens and...

We examine the response of U.S. (VIX) and German (VDAX) implied volatility indices to the announcement of interest rate policy decisions by the Federal Open Market Committee (FOMC) and the European Central Bank (ECB). We confirm prior findings that VIX declines on FOMC meetings days. We present...

The literature has considered the market's response to the stocks of commercial airline carriers after their flights are involved in accidents. The aircraft manufacturer stock price, in the wake of a crash, has received considerably less attention in the literature. We analyze this response over...