Treasury trade organizations report a sharp increase in demand of corporations wanting to manage their credit bank relationships. In doing so, these companies seek to understand the risk adjusted capital that credit banks must reserve against their fee based and credit based business, and the...

Data on major voting blocks in the German officially listed companies for the end of 1997 and May 2001 is used in order to explore the spatial dimensions of the system of corporate control. Listed companies are very unevenly distributed, and their institutional and geographical concentration has...

It has become a truism that the pressures of the capital markets will improve the governance of corporations; equally, that improvements in corporate governance will promote development of the capital markets. However, the relationship of the capital markets to the governance of corporations is...

In spite of the growing research concerning investor protection, the relation between investor protection and real investment by foreign multinationals is largely unexplored. Recognizing this relation, however, is especially important in light of the surge in cross-border activity in recent...

We examine the general hedging problem faced by a global portfolio manager or a pure exporting multinational firm. Most hedging models assume that these economic agents hold only a single asset in the spot market and are exposed only to a single source of price-quantity uncertainty. Such models...

Finance journal quality is a critical issue for faculty annual evaluations, for the tenure and promotion process, and for the administration of faculty workload plans. Unlike other studies that use objective measures(such as citation frequencies) to rate journals, this study focuses on the...

This study examines the market's reaction to foreign divestitures and explains why reactions vary across firms. A significant positive reaction is observed, which is similar in magniture to that observed for a matched control sample of domestic divestitures. The size of the reaction is...

The relationship between currency exchange rate risk and country risk, country development, and country geographic location are examined. Using a sample of 52 countries over the period from 1991 through 1995, results indicate that those countries with relatively high levels of country risk...