The Financial Institutions Reform, Recovery and Enforcement Act (HRREA) of 1989 was intended to enhance the safety of savings institutions. We develop and test a model showing how institution-specific characteristics modify the overall effect of FIRREA on the risk of savings institutions. Our...

This study attempts to determine whether an acquisition announcement signals potential gains to the corresponding industry rivals of the target, and whether these gains can be explained by industry-specific and rival firm-specific factors that reflect the likelihood of a takeover. The research...

The purpose of this study is to extend the research on mutual fund performance persistence to net asset value and market price performance of domestic closed-end funds. While research has assessed the performance persistence of open-end mutual funds, it has not assessed the performance...

We examine the industry valuation effects of analyst stock revisions and identify the variables that influence these effects. Our results show that industry rivals experience significant abnormal returns in response to revision announcements. Although the mean stock price response suggests...