Journal of Business Finance & Accounting

1988 - 2026

Current editor(s): P. F. Pope, A. W. Stark and M. Walker

From Wiley Blackwell
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Volume 23, issue 9-10, 1996

Over-Reaction by Security Market Analysts: The Impact of Broker Status and Firm Size pp. 1223-1244

Simon Hussain

An Empirical Analysis of Qualitative Management Earnings Forecasts pp. 1245-1265

Michael Ofosu Mensah, Hong V. Nguyen and Huldah A. Ryan

Dividend Policy and Corporate Performance pp. 1267-1287

Aigbe Akhigbe and Jeff Madura

Industry Information Transfers: The Effect of Information Environment pp. 1289-1306

Roger C. Graham and Raymond D. King

The Intertemporal Relationship Between the Currency Spot Market and the Currency Option Market pp. 1307-1317

Ming-Shiun Pan, Ralph T. Hocking and Hong K. Rim

The Cost of Equity Capital at the Corporate and Investor Levels Allowing a Rational Expectations Model with Personal Taxations pp. 1319-1331

Mike Dempsey

An Adjustment Procedure for Predicting Betas When Thin Trading is Present: Canadian Evidence pp. 1333-1356

Francis Boabang

Detecting Linear and Nonlinear Dependence in Stock Returns: New Methods Derived from Chaos Theory pp. 1357-1377

Claire G. Gilmore

Mean Reversion in the United Kingdom Stock Market and its Implications for a Profitable Trading Strategy pp. 1379-1395

David A. Sauer and Carl R. Chen

Information Content of Interim Earnings Components — Evidence from Finland pp. 1397-1414

Hannu Schadewitz

Trait Recognition: An Alternative Approach to Early Warning Systems in Commercial Banking pp. 1415-1434

James Kolari, Michele Caputo and Drew Wagner

An Empirical Re-Examination of the Cross-Section of Expected Returns: UK Evidence pp. 1435-1452

Andrew Chan and Alice P.L. Chui

Random Walks in World Money Rates pp. 1453-1465

Nan Ting Chou, William H. Dare, William Dukes and Christopher K. Ma

Volume 23, issue 8, 1996

INSIDER TRADING AND THE INFORMATION CONTENT OF EARNINGS pp. 1069-1095

Suneel C. Udpa

CORPORATE LEVERAGE AND THE DISTRIBUTION OF EQUITY RETURNS pp. 1097-1120

George W. Blazenko

REACTIONS OF THE HONG KONG STOCK MARKET TO THE PUBLICATION OF SECOND‐HAND ANALYSTS’RECOMMENDATION INFORMATION pp. 1121-1140

Siu‐Yeung Chan and Wai‐Ming Fong

DEBT RESCHEDULING VERSUS BANKRU/TCY: THE CREDITOR'S DECISION PROBLEM pp. 1141-1156

Robert C. Cressy

THE INFORMATION CONTENT OF THE PRESIDENT'S LETTER TO SHAREHOLDERS pp. 1157-1182

Eric Abrahamson and Eli Amir

SKEWNESS PERSISTENCE IN US COMMON STOCK RETURNS: RESULTS FROM BOOTSTRAPPING TESTS pp. 1183-1195

Richard A. DeFusco, Gordon V. Karels and Krishnamurty Muralidhar

POST‐ANNOUNCEMENT DRIFT AND INCOME SMOOTHING: FINNISH EVIDENCE pp. 1197-1211

G. Geoffrey Booth, Juha‐Pekka Kallunki and Teppo Martikainen

THE VALUATION OF NATURAL RESOURCES: A COMMENT pp. 1213-1216

Andrew C. Thompson

THE VALUATION OF NATURAL RESOURCES: A REPLY pp. 1217-1218

John L. Crain and A.M.M. Jamal

REPLICATION OF MOSES’INCOME SMOOTHING TESTS WITH CANADIAN AND UK DATA: A NOTE pp. 1219-1222

Shahrokh M. Saudagaran and James F. Sepe

Volume 23, issue 7, 1996

INTRA‐INDUSTRY EFFECTS OF VOLUNTARY CORPORATE LIQUIDATIONS pp. 915-930

Aigbe Akhigbe and Jeff Madura

RATIONAL EARLY EXERCISE OF EQUITY AND INDEX OPTIONS: THE IMPACT OF MARKET FRICTIONS pp. 931-951

Paul Dawson

THE MARKET REACTION TO THE RESERVE‐BASED VALUE REPLACEMENT MEASURES OF OIL AND GAS PRODUCERS pp. 953-974

Nasser A. Spear

MODELING THE DYNAMIC INTERDEPENDENCE OF MAJOR EUROPEAN STOCK MARKETS pp. 975-988

Gregory Koutmos

ODD‐LOT COSTS, TAXES AND THE EX‐DATE PRICE EFFECTS OF STOCK DIVIDENDS: EVIDENCE FROM THE TORONTO STOCK EXCHANGE pp. 989-1003

George Athanassakos and Brian F. Smith

THE PRICE LINKAGES BETWEEN COUNTRY FUNDS AND NATIONAL STOCK MARKETS: EVIDENCE FROM COINTEGRATION AND CAUSALITY TESTS OF GERMANY, JAPAN AND UK FUNDS pp. 1005-1017

Uri Ben‐Zion, Jongmoo Jay Choi and Shmuel Hauser

FINNISH DAY‐OF‐THE‐WEEK EFFECTS pp. 1019-1032

Teppo Martikainen and Vesa Puttonen

UNEARNED PERFORMANCE FEES pp. 1033-1042

Robert Ferguson and Dean Leistikow

TRANSACTION RESPONSES TO ANALYSTS’EARNINGS FORECASTS, NEWS TYPE AND TRADER TYPE pp. 1043-1058

Jeong‐Bon Kim, Jason Lee and Tae H. Park

THE INTERTEMPORAL BEHAVIOR OF SHORT‐TERM INTEREST RATES IN HONG KONG pp. 1059-1068

Joseph W. Cheng

Volume 23, issue 5‐6, 1996

THE CHANGING NATURE OF CORPORATE CONTROL AND OWNERSHIP STRUCTURE pp. 651-672

Paul Barnes, Ian Davidson and Mike Wright

SHAREHOLDER WEALTH GAINS IN MERGERS: EFFECT OF SYNERGY AND OWNERSHIP STRUCTURE pp. 673-698

Sudi Sudarsanam, Peter Holl and Ayo Salami

FINANCIAL DISTRESS AND CORPORATE ACQUISITIONS: FURTHER EMPIRICAL EVIDENCE pp. 699-719

Panayiotis Theodossiou, Emel Kahya, Reza Saidi and George Philippatos

THE RELATIONSHIPS BETWEEN CHANGES IN INCENTIVE STRUCTURES, EXECUTIVE PAY AND CORPORATE PERFORMANCE: SOME EVIDENCE FROM THE PRIVATISED WATER INDUSTRY IN ENGLAND AND WALES pp. 721-751

Stuart Ogden and Robert Watson

OWNER‐MANAGER DRAWINGS, FIRM PERFORMANCE AND FINANCIAL STRUCTURE: AN ANALYSIS OF SMALL AND CLOSELY‐HELD UK FIRMS pp. 753-777

Kevin Keasey and Robert Watson

GOING PRIVATE RESTRUCTURING: THE ROLE OF INSIDER TRADING pp. 779-806

Robert Kaestner and Feng‐Ying Liu

TAKEOVER PREMIUMS AND ANTICIPATED MERGER GAINS IN THE US MARKET FOR CORPORATE CONTROL pp. 807-829

Dean Crawford and Thomas A. Lechner

OWNERSHIP STRUCTURE AND MANAGERIAL INCENTIVES: THE EVIDENCE FROM ACQUISITIONS BY DUAL CLASS FIRMS pp. 831-849

Robert C. Hanson and Moon H. Song

THE FINANCIAL EFFECTS OF TAKEOVER: ACCOUNTING RATES OF RETURN AND ACCOUNTING REGULATION pp. 851-868

R. Chatterjee and G. Meeks

THE INFORMATIONAL ROLE OF TENDER OFFER STOCK REPURCHASES: EVIDENCE FROM INSTITUTIONAL OWNERSHIP pp. 869-880

Mitchell Ratner, Samuel H. Szewczyk and George P. Tsetsekos

COMPULSORY COMPETITIVE TENDERING FOR PUBLIC SERVICES IN THE UK: THE CASE OF REFUSE COLLECTION pp. 881-903

Hakeem Bello and Stefan Szymanski

A NOTE ON UNDERWRITER COMPETITION AND INITIAL PUBLIC OFFERINGS pp. 905-914

Muhammad R. K. Chishty, Iftekhar Hasan and Stephen D. Smith

Volume 23, issue 4, 1996

WHY MANAGERS VOLUNTARILY MAKE INCOME INCREASING ACCOUNTING CHANGE pp. 497-511

Peter Cheng and Daniel Coulombe

THE RELATION BETWEEN ACCOUNTING GOODWILL NUMBERS AND EQUITY VALUES pp. 513-533

Ross Jennings, John Robinson, Robert B. Thompson and Linda Duvall

OPTION PRICING BOUNDS AND THE PRICING OF BOND OPTIONS pp. 535-556

Bjarne Astrup Jensen and Jørgen Aase Nielsen

TAX INDUCED TRADING VOLUME AROUND EX‐DIVIDEND DAYS UNDER DIFFERENT TAX REGIMES: THE CANADIAN EXPERIENCE 1970–1984 pp. 557-584

George Athanassakos

PRICE LIMITS AND STOCK MARKET EFFICIENCY pp. 585-601

Sang Bin Lee and Jee Seok Chung

A BINOMIAL MODEL FOR THE VALUATION OF CORPORATE VOTING RIGHTS pp. 603-616

John L. Teall

AN EXAMINATION OF THE TIME SERIES PROPERTIES OF LISTED, PRIVATELY HELD AND FAILING FIRMS pp. 617-639

Arto Suvas

A NOTE ON THE TIME SERIES BEHAVIOUR OF EARNINGS PER SHARE DATA OF TAIWANESE FIRMS pp. 641-650

Ben‐Hsien Bao, Da‐Hsien Bao and Michael Firth

Volume 23, issue 3, 1996

CHANGES IN ASYMMETRIC INFORMATION AT EARNINGS AND DIVIDEND ANNOUNCEMENTS pp. 359-378

Raymond M. Brooks

ACCOUNTABILITY AND AUDITORS' JUDGMENTS ABOUT CONTINGENT EVENTS pp. 379-398

Thomas A. Buchman, Philip E. Tetlock and Ronald O. Reed

INITIAL CORPORATE DEBT OFFERINGS, CERTIFICATION AND EQUITY VALUATION pp. 399-416

David A. Burnie and Joseph P. Ogden

VALUATION OF CLOSELY‐HELD FIRMS: A SURVEY pp. 419-438

William P. Dukes, Oswald D. Bowlin and Christopher K. Ma

A CAUSALITY TEST OF THE OCTOBER CRASH OF 1987: EVIDENCE FROM ASIAN STOCK MARKETS pp. 439-448

Mohammad Najand

THE TIME SERIES BEHAVIOR AND PREDICTIVE‐ABILITY RESULTS OF ANNUAL VALUE ADDED DATA pp. 449-460

Ben‐Hsien Bag and Da‐Hsien Bao

VOLUNTARY INFORMATION DISCLOSURE DURING PERIODS OF STOCK PRICE VULNERABILITY pp. 461-472

Dan W. Cooper and Brian Grinder

FOREIGN EXCHANGE RISK AND COMMON STOCK RETURNS: A NOTE ON INTERNATIONAL EVIDENCE pp. 473-480

Hsing Fang and Jean C.H. Loo

ADDITIONAL THOUGHTS ON CONDITIONS FOR FULLY REVEALING DISCLOSURE pp. 481-490

Don W. Vickrey

REVISITING THE CONDITIONS FOR FULLY REVEALING DISCLOSURE pp. 491-494

Joel S. Demski and David E.M. Sappington

Volume 23, issue 2, 1996

Foreword EMPIRICAL RESEARCH IN BUSINESS FINANCE AND ACCOUNTING pp. 155-158

Petter F. Pope and Martin Walker

THE TIME SERIES PROPERTIES OF THE COMPONENTS OF CLEAN SURPLUS EARNINGS: UK EVIDENCE pp. 159-183

John O'Hanlon

DISCUSSION OF THE TIME‐SERIES PROPERTIES OF THE COMPONENTS OF CLEAN SURPLUS EARNINGS: UK EVIDENCE pp. 185-189

Stephen G. Ryan

UK EVIDENCE ON THE MARKET VALUATION OF RESEARCH AND DEVELOPMENT EXPENDITURES pp. 191-216

J. Peter Green, Andrew W. Stark and Hardy M. Thomas

DISCUSSION OF UK EVIDENCE ON THE MARKET VALUATION OF RESEARCH AND DEVELOPMENT EXPENDITURES pp. 217-220

Chris Higson

THE IMPACT OF INVESTOR SOPHISTICATION ON PRICE RESPONSES TO EARNINGS NEWS pp. 221-236

AshrafNeil ElsharkawyandGarrod

DISCUSSION OF THE IMPACT OF INVESTOR SOPHISTICATION ON PRICE REPONSES TO EARNINGS NEWS pp. 237-241

J. Andrew Coutts

ARE PETROLEUM MARKET VALUES A TRIUMPH OF ECONOMICS OVER ACCOUNTING? pp. 243-261

Tommi Johnsen, Dean A. Paxson and Ronald J. Rizzuto

DISCUSSION OF ARE PETROLEUM MARKET VALUES A TRIUMPH OF ECONOMICS OVER ACCOUNTING? pp. 263-265

Kevin Holland

TAKEOVER ACTIVITY, CEO TURNOVER, AND THE MARKET FOR CORPORATE CONTROL pp. 267-285

V. A. Kennedy and R. J. Limmack

DISCUSSION OF TAKEOVER ACTIVITY, CEO TURNOVER AND THE MARKET FOR CORPORATE CONTROL pp. 287-293

Anthony Appleyard

LARGE SHAREHOLDERS, TAKEOVERS AND TARGET VALUATION pp. 295-314

Sudi Sudarsanam

DISCUSSION OF LARGE SHAREHOLDERS, TAKEOVERS AND TARGET VALUATION pp. 315-317

Patricia Fraser

CONVERTIBLE DEBT FINANCING: AN EMPIRICAL ANALYSIS pp. 319-334

Jamie W. Munro

DISCUSSION OF CONVERTIBLE DEBT FINANCING: AN EMPIRICAL ANALYSIS pp. 335-338

Janette Rutterford

Volume 23, issue 1, 1996

THE POWER OF TESTS OF FUND MANAGER PERFORMANCE pp. 1-11

D.J. Ashton

AUDIT FEES AND AUDITOR CHANGE; AN INVESTIGATION OF THE PERSISTENCE OF FEE REDUCTION BY TYPE OF CHANGE pp. 13-28

Alan Gregory and Paul Collier

GAME THEORY AND THE AUDITOR'S PENALTY REGIME pp. 29-45

David Hatherly, Luc Nadeau and Lyn Thomas

UNSEASONED EQUITY OFFERINGS MBO‐IPOs vs NON‐MBO‐IPOs pp. 47-61

B.S. Saadouni, R.J. Briston and C.A. Mallin

STOCK INDEX FUTURES HEDGING: HEDGE RATIO ESTIMATION, DURATION EFFECTS, EXPIRATION EFFECTS AND HEDGE RATIO STABILITY pp. 63-77

Phil Holmes

A LONGITUDINAL SURVEY ON CAPITAL BUDGETING PRACTICES pp. 79-92

Richard Pike

ARE LONG‐HORIZON STOCK RETURNS PREDICTABLE? A BOOTSTRAP ANALYSIS pp. 93-106

Dimitrios Malliaropulos

EXCHANGEABLE DEBT CALLS AND SECURITY RETURNS pp. 107-114

Chinmoy Ghosh, Raj Varma and J. Randall Woolridge

DURATION AND INTEREST RATE RISK FOR UNCERTAIN CASH FLOW STREAMS pp. 115-123

Huw Rhys and Mark Tippett

FORECASTING VOLATILITY FOR PORTFOLIO SELECTION pp. 125-143

George A. Vasilellis and Nigel Meade

RISK, SEASONALITY AND THE ASYMMETRIC BEHAVIOUR OF STOCK RETURNS pp. 145-154

Patricia L. Chelley‐Steeley