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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Stock‐Split Post‐Announcement Returns: Underreaction or Market Friction? pp. 485-506: Rodney D. Boehme and Bartley R. Danielsen
Can Asset Pricing Models Price Idiosyncratic Risk in U.K. Stock Returns? pp. 507-535: Jonathan Fletcher
Price Performance Following Share‐Repurchase Announcements by Closed‐End Funds pp. 537-555: Aigbe Akhigbe, Doseong Kim and Jeff Madura
Diversification in Portfolios of Individual Stocks: 100 Stocks Are Not Enough pp. 557-570: Dale L. Domian, David A. Louton and Marie D. Racine

IPO Pricing, Block Sales, and Long‐Term Performance pp. 319-348: Kuntara Pukthuanthong‐Le and Nikhil Varaiya
Short‐ and Long‐Term Effects of Multimarket Trading pp. 349-372: Vanthuan Nguyen, Bonnie F. Van Ness and Robert A. Van Ness
Deal Size, Bid Premium, and Gains in Bank Mergers: The Impact of Managerial Motivations pp. 373-400: Atul Gupta and Lalatendu Misra
Loan Rates and Collateral pp. 401-427: Aron A. Gottesman and Gordon S. Roberts
Trading Volume and Market Volatility: Developed versus Emerging Stock Markets pp. 429-459: Eric Girard and Rita Biswas
The Impact of Changes in the FTSE 100 Index pp. 461-484: Bryan Mase

Are the Insider Trades of a Large Institutional Investor Informed? pp. 161-190: Joseph Golec
Hedging, Financing and Investment Decisions: A Simultaneous Equations Framework pp. 191-209: Chen‐Miao Lin and Stephen D. Smith
Cash Flows and Discount Rates, Industry and Country Effects and Co‐Movement in Stock Returns pp. 211-226: John Ammer and Jon Wongswan
The Agency Structure of Loan Syndicates pp. 227-245: Pascal François and Franck Missonier‐Piera
Discounting Mean Reverting Cash Flows with the Capital Asset Pricing Model pp. 247-265: Carmelo Giaccotto
Convertible Securities, Employee Stock Options and the Cost of Equity pp. 267-288: Phillip R. Daves and Michael C. Ehrhardt
Price Clustering on the Tokyo Stock Exchange pp. 289-301: Aslı Aşçıoğlu, Carole Comerton‐Forde and Thomas McInish
A New Variance Ratio Test of Random Walk in Emerging Markets: A Revisit pp. 303-317: Osamah M. Al‐Khazali, David Ding and Chong Soo Pyun

Reconcilable Differences: Momentum Trading by Institutions pp. 1-22: Richard W. Sias
The U.S. Share of Trading Volume in Cross‐Listings: Evidence from Canadian Stocks pp. 23-51: Sanjiv Sabherwal
Climate for Scandal: Corporate Environments that Contribute to Accounting Fraud pp. 53-73: Claire E. Crutchley, Marlin R. H. Jensen and Beverly B. Marshall
Market Underreaction to Free Cash Flows from IPOs pp. 75-97: Steven X. Zheng
CEO Cash and Stock‐Based Compensation Changes, Layoff Decisions, and Shareholder Value pp. 99-119: Jeffrey T. Brookman, Saeyoung Chang and Craig G. Rennie
Repricing and Executive Turnover pp. 121-141: Narayanan Subramanian, Atreya Chakraborty and Shahbaz Sheikh
Equity with Warrants in Private Placements pp. 143-160: Dalia Marciukaityte and Anita K. Pennathur

Optimal Incentive Contracts for Loss‐Averse Managers: Stock Options versus Restricted Stock Grants pp. 451-482: Anna Dodonova and Yuri Khoroshilov
Initial Public Offerings: CFO Perceptions pp. 483-511: James C. Brau, Patricia A. Ryan and Irv DeGraw
Dynamic Interactions among the Stock Market, Federal Funds Rate, Inflation, and Economic Activity pp. 513-545: Nikiforos Laopodis
The Equity Premium: Consistent with GDP Growth and Portfolio Insurance pp. 547-564: Christophe Faugere and Julian Van Erlach
The Risk‐Return Relation in International Stock Markets pp. 565-587: Hui Guo
Faster Implied Volatilities via the Implicit Function Theorem pp. 589-597: Michael Kelly

The Importance of Board Quality in the Event of a CEO Death pp. 307-337: Kenneth A. Borokhovich, Kelly R. Brunarski, Maura S. Donahue and Yvette S. Harman
Market Reaction to Changes in the S&P SmallCap 600 Index pp. 339-360: S. Gowri Shankar and James M. Miller
Corporate Governance and Asset Sales: The Effect of Internal and External Control Mechanisms pp. 361-386: Robert C. Hanson and Moon H. Song
Information Content of Business Methods Patents pp. 387-404: Brian Boscaljon, Greg Filbeck and Tim Smaby
IPO Placement Risk and the Number of Co‐Managers pp. 405-418: Wallace N. Davidson, Biao Xie and Weihong Xu
Effect of Governance Characteristics on the State of the Firm after an Initial Public Offering pp. 419-433: Shelly W. Howton
Institutional Ownership and Return Reversals Following Short‐Term Return Consistency pp. 435-448: Boyce D. Watkins
Erratum: Noninterest Income and Financial Performance at U.S. Commercial Banks pp. 449-450: Robert DeYoung and Tara Rice

The Effect of Information Quality on Optimal Portfolio Choice pp. 157-185: Frederik Lundtofte
The Original Maturity of Corporate Bonds: The Influence of Credit Rating, Asset Maturity, Security, and Macroeconomic Conditions pp. 187-203: Geetanjali Bali and Frank S. Skinner
The Subjective Valuation of Indexed Stock Options and Their Incentive Effects pp. 205-227: A. Louis Calvet and Abdul H. Rahman
Valuation and Performance of Reacquisitions Following Equity Carve‐Outs pp. 229-246: Kimberly Gleason, Jeff Madura and Anita K. Pennathur
Block Trade Price Asymmetry and Changes in Depth: Evidence from the Australian Stock Exchange pp. 247-271: Hamish Anderson, Sapphire Cooper and Andrew K. Prevost
The Impact of Pennies on the Market Quality of the Toronto Stock Exchange pp. 273-288: Brian F. Smith, D. Alasdair S. Turnbull and Robert W. White
The Asymmetric Impact of Monetary Policy on Currency Markets pp. 289-303: Bento Lobo, Ali F. Darrat and Sanjay Ramchander

Tools for Financial Innovation: Neoclassical versus Behavioral Finance pp. 1-8: Robert Shiller
An Examination of the Differential Impact of Regulation FD on Analysts' Forecast Accuracy pp. 9-31: Scott Findlay and Prem G. Mathew
Uncertain Demand, Heterogeneous Expectations, and Unintentional IPO Underpricing pp. 33-54: Bruce K. Gouldey
Portfolio Effects and Valuation of Weather Derivatives pp. 55-76: Patrick L. Brockett, Mulong Wang, Chuanhou Yang and Hong Zou
The Impact of Inflation Measures on the Real Returns and Risk of U.S. Stocks pp. 77-94: Charles P. Jones and Jack W. Wilson
Inferring Public and Private Information from Trades and Quotes pp. 95-117: Bart Frijns
Price Movements, Information, and Liquidity in the Night Trading Market pp. 119-137: Antoine Giannetti, Stephen J. Larson, Chun I. Lee and Jeff Madura
Variance Spillover and Skewness in Financial Asset Returns pp. 139-156: Bob Korkie, Ranjini Sivakumar and Harry J. Turtle