Journal of Finance

最新文章

• The Time-Variation of the Exchange Rate Exposure: An Industry Analysis AI翻译
  作者：Allayannis, George
  作者单位：University of Virginia
• Tax Incentives to Hedge AI翻译
  作者：Graham, John R.; Smith, Clifford W., Jr.
  作者单位：University of Rochester
• Analyzing Option Deltas and State Prices: A New Approach AI翻译
  作者：Grundy, Bruce D.; Wiener, Zvi
  作者单位：Hebrew University of Jerusalem
• Bank Debt and Publicly Traded Debt in Repeated Oligopolies AI翻译
  作者：Hege, Ulrich
  作者单位：Hautes Etudes Commerciales (HEC) Paris
• Analyst following of initial public offerings AI翻译
  作者：Rajan, R; Servaes, H
  作者单位：University of North Carolina; University of North Carolina Chapel Hill
  摘要：We examine data on analyst following for a sample of initial public offerings completed between 1975 and 1987 to see how they relate to three well-documented IPO anomalies. We find that higher underpricing leads to increased analyst following. Analysts are overoptimistic about the earnings potential and long term growth prospects of recent IPOs. More firms complete IPOs when analysts are particularly optimistic about the growth prospects of recent IPOs. In the long run, IPOs have better stock ...
• Management and control of foreign exchange risk - Jacque,LL AI翻译
  作者：Huang, RD
• Do Investors Ignore Dividend Taxation? A Reexamination of the Citizens Utilities Case AI翻译
  作者：Hubbard, Jeff; Michaely, Roni
  作者单位：Cornell University
• Assessing goodness-of-fit of asset pricing models: The distribution of the maximal R-2 AI翻译
  作者：Foster, FD; Smith, T; Whaley, RE
  作者单位：University of New South Wales Sydney; Duke University
  摘要：The development of asset pricing models that rely on instrumental variables together with the increased availability of easily-accessible economic time-series have renewed interest in predicting security returns. Evaluating the significance of these new research findings, however, is no easy task. Because these asset pricing theory tests are not independent, classical methods of assessing goodness-of-fit are inappropriate. This study investigates the distribution of the maximal R-2 when k of m...
• CEO contracting and antitakeover amendments AI翻译
  作者：Borokhovich, KA; Brunarski, KR; Parrino, R
  作者单位：University System of Ohio; Ohio State University; University of Texas System; University of Texas Austin
  摘要：This article examines incentives for adopting antitakeover charter amendments (ATAs) that are associated with compensation contracts. The evidence is consistent with the hypothesis that antitakeover measures such as ATAs help managers protect above-market levels of compensation. Chief executive officers (CEOs) of firms that adopt ATAs receive higher salaries and more valuable option grants than CEOs at similar firms that do not adopt them. Furthermore, the magnitude of this difference increase...
• Speed of Adjustment to Common Information and Cross-Autocorrelations in Stock Returns AI翻译
  作者：Chordia, Tarun; Swaminathan, Bhaskaran