The Financial Review

1984 - 2025

Current editor(s): Cynthia J. Campbell and Arnold R. Cowan

From Eastern Finance Association
Contact information at EDIRC.
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Volume 34, issue 4, 1999

Symposium on Market Microstructure: A Review of Empirical Research pp. 1-27

Jay Coughenour and Kuldeep Shastri

Market-Making in the Third Market for NYSE-Listed Securities pp. 29-54

Lynn Doran

The Impact of Market Maker Competition on Nasdaq Spreads pp. 55-73

Mark Klock and D Timothy McCormick

Changing the Size of a Futures Contract: Liquidity and Microstructure Effects pp. 75-94

Ahmet K Karagozoglu and Terrence F Martell

The Cross-Sectional Relationship between Trading Costs and Lead/Lag Effects in Stock and Option Markets pp. 95-117

Matthew L O'Connor

Information Production, Insider Trading, and the Role of Managerial Compensation pp. 119-44

Ranga Narayanan

Nasdaq and the Chicago Stock Exchange: An Analysis of Multiple Market Trading pp. 145-57

Bonnie F Van Ness, Robert A Van Ness and Wen-Liang Hsieh

Day-of-the-Week Autocorrelations, Cross-Autocorrelations, and the Weekend Phenomenon pp. 159-70

Eric James Higgins and David R Peterson

Volume 34, issue 3, 1999

The Industry Effects Regarding the Probability of Takeovers pp. 1-17

Aigbe Akhigbe and Jeff Madura

Private Placement of Common Equity and Earnings Expectations pp. 19-32

Goh, Jeremy, et al

Examining the Impact of the 1986 Tax Reform Act on Corporate Dividend Policy: A New Methodology pp. 33-46

Casey, K Mike, et al

A Cross-Sectional Empirical Test of a Dual-State Multi-factor Pricing Model pp. 47-63

Shelly W Howton and David R Peterson

An Empirical Examination of the Nasdaq/CHX Dual-Trading Experiment pp. 65-77

Bonnie F Van Ness, Robert A Van Ness and Stephen Pruitt

Comparing the Effectiveness of Traditional and Time Varying Hedge Ratios Using New Zealand and Australian Debt Futures Contracts pp. 79-94

Katherine J Wilkinson, Lawrence Rose and Martin Young

Futures Commitments and Commodity Price Jumps pp. 95-111

Arjun Chatrath and Frank Song

Price Elasticity of Demand and an Optimal Cash Discount Rate in Credit Policy pp. 113-25

Muhammad Rashid and Devashis Mitra

Volume 34, issue 2, 1999

Effects of Executive Share Option Plans on Shareholder Wealth and Firm Performance: The Singapore Evidence pp. 1-20

Yeo, Gillian H H, et al

Economic Exchange Rate Exposure of U.S.-Based MNCs Operating in Europe pp. 21-36

Anna D Martin, Jeff Madura and Aigbe Akhigbe

Ownership Restrictions and Stock Prices: Evidence from Chinese Markets pp. 37-56

Dongwei Su

Random Walks and Market Efficiency Tests of Latin American Emerging Equity Markets: A Revisit pp. 57-72

Kalu Ojah and David Karemera

The Reaction of Closed End Funds to Stock Distribution Announcements pp. 73-88

Vinay Datar and David A Dubofsky

An Examination of Mandatorily Convertible Preferred Stock pp. 89-108

Nancy White Huckins

The Effects of Inverted Yield Curves on Asset Returns pp. 109-26

James Ross McCown

Bond Immunization for Affine Term Structures pp. 127-40

Joel R Barber

Volume 34, issue 1, 1999

The Influence of Information Arrival on Market Microstructure: Evidence from Three Related Markets pp. 1-26

Chun I Lee and Ike Mathur

Market Making and Trading in Nasdaq Stocks pp. 27-44

Michael Goldstein and Edward F Nelling

Filter Tests in Nasdaq Stocks pp. 45-70

Andrew Szakmary, Davidson, Wallace N, and Thomas V Schwarz

Do Beta Pricing Models Explain January Mean Reversion in Stock Returns? pp. 71-90

Partha Gangopadhyay and Jishnu Sen

Long Memory In Futures Prices pp. 91-100

John Barkoulas, Walter C Labys and Joseph I Onochie

Explicit versus Implicit Contracts: The Case of DIFF and CROSS Futures pp. 101-18

Ahmet K Karagozoglu

Managerial Ownership and Agency Conflicts: A Nonlinear Simultaneous Equation Analysis of Managerial Ownership, Risk Taking, Debt Policy, and Dividend Policy pp. 119-36

Carl R Chen and Thomas L Steiner

The Industry-Wide Implications of Dividend Omission and Initiation Announcements and the Determinants of Information Transfer pp. 137-58

Ninon Kohers

Who Moves the Asia-Pacific Stock Markets--US or Japan? Empirical Evidence Based on the Theory of Cointegration pp. 159-70

Asim Ghosh, Reza Saidi and Keith H Johnson

Volume 33, issue 4, 1998

Board Composition, Managerial Ownership, and Firm Performance: An Empirical Analysis pp. 1-16

Scott W Barnhart and Stuart Rosenstein

Golden Parachutes, Board and Committee Composition, and Shareholder Wealth pp. 17-32

Davidson, Wallace N,, Theodore Pilger and Andrew Szakmary

Stock Splits: An Institutional Investor Preference pp. 33-46

Helen B Mason and Roger M Shelor

The Effect of Junk Bond Defaults on Common Stock Returns pp. 47-60

Joseph Vu

A Futures Duration-Convesity Hedging Method pp. 61-80

Robert T Daigler and Mark Copper

Option Pricing with Heterogeneous Expectations pp. 81-92

Chen Guo

Further Evidence on Equity Market Contagion: The FSLIC's Solvency and the Liguidity Crisis of Financial Corporation of America pp. 93-106

Cooperman, Elizabeth S, et al

Is There Excess Capacity in Rural Banking Markets? pp. 107-24

James E McNulty and Aigbe Akhigbe

Adjustment Process of the Price to Book Ratio for Regulated Utilities pp. 125-40

Emeka T Nwaeze

Pension Benefits, Wealth Accumulation, and Capital Market Equilibrium: A Life Cycle Hypothesis-Based Dynamic Model pp. 141-62

Winston T Lin and Yueh H Chen

Volume 33, issue 3, 1998

Insider Trading and the Bid-Ask Spread pp. 1-20

Kee H Chung and Charlie Charoenwong

Stock Returns in Thinly Traded Markets pp. 21-34

Kirt C Butler and Richard M Osborne

Bid-Ask Spread Estimation for a Correlated Value Innovation Process pp. 35-51

Ravinder K Bhardwaj and William T Moore

Earnings Forecasts and the Information Contained in Spinoff Announcements pp. 53-67

Ronald W Best, Roger J Best and A M Agapos

The Impact of Asymmetric Information on Proxy Outcomes: An Empirical Test pp. 69-83

Sam Mensah

The Impact of Ownership Structure on Corporate Debt Policy: A Time-Series Cross-Sectional Analysis pp. 85-98

Mahmoud A Moh'd, Larry G Perry and James N Rimbey

Leveraged Recapitalizations, Operating Efficiency, and Stockholder Wealth pp. 99-114

M Mark Walker

Stock Prices and the Secondary Dissemination of Information: The Wall Street Journal's "Insider Trading Spotlight" Column pp. 115-28

Saeyoung Chang and David Y Suk

Optimal Asset Allocation over the Business Cycle pp. 129-48

Joe Brocato and Steve Steed

Changes in Factor Betas and Risk Premiums over Varying Market Conditions pp. 149-68

Parvez Ahmed and Larry J Lockwood

Sufficiency Conditions for Inclusion of One Asset over Another in Investment Portfolios pp. 169-82

William Trainor

An Examination of Blume and Vasicek Betas pp. 183-97

Martin Lally

An Examination of Cross-Sectional Realized Stock Returns Using a Varying-Risk Beta Model pp. 199-212

Shelly W Howton and David R Peterson

Integration of International Long-Term Interest Rates: A Fractional Cointegration Analysis pp. 213-23

L Paul Hsueh and Ming-Shiun Pan

Volume 33, issue 2, 1998

Insider Ownership and Signals: Evidence from Stock Split Announcement Effects pp. 1-18

Ki C Han and David Y Suk

Failed Takeovers, Methods of Payment, and Bidder Returns pp. 19-34

Saeyoung Chang and David Y Suk

An Empirical Comparison of Bankruptcy Models pp. 35-53

Mossman, Charles E, et al

The Evidence of Bidders' Overpayment in Takeovers: The Valuation Ratios Approach pp. 55-68

Ki C Han, David Y Suk and Hyun Mo Sung

Properties of Time-Series Estimates of Degree of Leverage Measures pp. 69-83

Richard A Lord

Geographical Deregulation and Competition in U.S. Banking Markets pp. 85-98

Asghar Zardkoohi and Donald R Fraser

Alternative Adjustments to Analysts' Earnings Forecasts: Relative and Complementary Performance pp. 99-113

May H Lo and Pieter T Elgers

Active Management, Fund Size, and Bond Mutual Fund Returns pp. 115-25

Philpot, James, et al

International Mutual Fund Selectivity and Market Time during Up and Down Market Conditions pp. 127-44

G Wenchi Kao, Louis T W Cheng and Kam C Chan

Price Reversal and Drift Following Earnings Announcements pp. 145-60

Li-Chin Jennifer Ho, Chao-Shin Liu and David A Ziebart

A Test of the Investor's Daily Stock Ranking System pp. 161-75

Olson, Dennis O, et al

Indirect Tests of the Haugen-Lakonishok Small-Firm/January Effect Hypotheses: Window Dressing versus Performance Hedging pp. 177-93

Cheng Few Lee, David C Porter and Daniel G Weaver

Price Discovery around Trading Halts on the Montreal Exchange Using Trade-by-Trade Data pp. 195-212

Lawrence Kryzanowski and Howard Nemiroff

A Transactions Data Analysis of Intraday Betas pp. 213-25

Suhkyong Kim, Larry J Lockwood and Thomas McInish

Volume 33, issue 1, 1998

The Effect of Leverage on Bargaining with a Corporation pp. 1-16

Oded H Sarig

Risk Adjusted Discount Rates and the Present Value of Risky Costs pp. 17-30

Robert Ariel

Correlated Interest Rate Risk and Funding Strategies for Nonfinancial Firms pp. 31-44

James E McNulty and Stephen D Smith

Deterministic Nonlinearity in the Stock Returns of Major European Equity Markets and the United States pp. 45-63

Vivek Pandey, Theodor Kohers and Gerald Kohers

Economically Significant Stock Market Forecasts pp. 65-76

Rolando F Pelaez

The Generation of Stock Market Cycles pp. 77-83

Steven E Bolten and Robert A Weigand

The Relationship between Mutual Fund Fees and Expenses and Their Effects on Performance pp. 85-103

Wilfred L Dellva and Gerard T Olson

The Impact of Option Introduction on the Conditional Return Distribution of Underlying Securities pp. 105-18

Eileen F St Pierre

Determining the Implied Volatility for American Options Using the QAM pp. 119-30

George W Kutner

The Liquidity Effects Associated with Addition of a Stock to the S&P 500 Index: Evidence from Bid/Ask Spreads pp. 131-46

Gayle R Erwin and James M Miller

Why Electric Utility Stocks Are Sensitive to Interest Rates pp. 147-61

Edward S O'Neal

An Examination of Market Efficiency around Hurricanes pp. 163-72

Reinhold P Lamb