Almeida, Campello, and Weisbach (2004) and Riddick and Whited (2009) offer contrasting conclusions regarding the corporate cash flow sensitivity of cash. We use an augmented empirical model to affirm the conclusion in Riddick and Whited that the cash flow sensitivity of cash is generally...

This article studies the impact of the Asian financial crisis on index options and index futures markets in Hong Kong. We employed a time‐stamped transaction data set of the Hang Seng Index options and futures contracts that were traded on the Hong Kong Futures Exchange. The results show that...

We use the net buying pressure hypothesis of N. P. B. Bollen and R. Whaley (2004) to examine the implied volatilities, options premiums, and options trading profits at various time‐intervals across five different moneyness categories of Hong Kong Hang Seng Index (HSI) options. The results show...

We provide a long-term assessment of finance research in the Asia-Pacific region. Similar to the earlier findings in Chan et al. (2001) and Chan et al. (2005), the Asia-Pacific academic institutions, as a group, perform very well during 1990-2008. The two quality-adjusted weighted article...

In this paper, we introduce two measures of allotment ratios for small investors to examine the strategic share allocation strategy of IPO underwriters in Hong Kong. Employing a sample of 267 IPOs from 1993 to 1997 and statistical analyses including two-sample comparisons and regression models,...

Using 10 years of publication data (1995-2004) from four leading international business journals, we examine global patterns of international business research and school rankings. Although US institutions still lead in the international business research, non-US schools are making significant...

We conducted a global study of the long-term issuer ratings of nonfinancial firms from Standard and Poor's Ratings Services (S&P) for the period 19982003. Specifically, we focused on the solicited versus unsolicited ratings and sample-selection bias in the analysis. Unlike the literature, we...