Journal of Banking & Finance

1977 - 2025

Current editor(s): Ike Mathur

From Elsevier
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Volume 31, issue 12, 2007

Loan underpricing and the provision of merger advisory services pp. 3539-3562

Linda Allen and Stavros Peristiani

Joint size and ownership specialization in bank lending pp. 3563-3583

Javier Delgado, V. Salas and J. Saurina

An empirical comparison of continuous-time models of implied volatility indices pp. 3584-3603

George Dotsis, Dimitris Psychoyios and George Skiadopoulos

Liquidation triggers and the valuation of equity and debt pp. 3604-3620

Dan Galai, Alon Raviv and Zvi Wiener

Price differences between equity classes. Corporate control, foreign ownership or liquidity? pp. 3621-3645

Bernt Ødegaard

Bidder returns in bancassurance mergers: Is there evidence of synergy? pp. 3646-3662

L. Paige Fields, Donald R. Fraser and James W. Kolari

Credit portfolios: What defines risk horizons and risk measurement? pp. 3663-3679

Silvan Ebnother and Paolo Vanini

Theories of bank behavior under capital regulation pp. 3680-3697

David VanHoose

Traffic light options pp. 3698-3719

Peter Jørgensen

Bond durations: Corporates vs. Treasuries pp. 3720-3741

Holger Kraft and Claus Munk

Asymmetric information and the mode of entry in foreign credit markets pp. 3742-3760

Eric Van Tassel and Sharmila Vishwasrao

Mean-variance portfolio selection with `at-risk' constraints and discrete distributions pp. 3761-3781

Gordon Alexander, Alexandre Baptista and Shu Yan

The impact of network size on bank branch performance pp. 3782-3805

Beverly Hirtle

Trade classification algorithms for electronic communications network trades pp. 3806-3821

Bidisha Chakrabarty, Bingguang Li, Vanthuan Nguyen and Robert A. Van Ness

Daily mutual fund flows and redemption policies pp. 3822-3842

Jason T. Greene, Charles W. Hodges and David Rakowski

Bankruptcy probability changes and the differential informativeness of bond upgrades and downgrades pp. 3843-3861

Yongtae Kim and Sandeep Nabar

Banking market conditions and deposit interest rates pp. 3862-3884

Richard Rosen

The cyclical effects of the Basel II capital requirements pp. 3885-3900

Frank Heid

R.J. Sweeney, Editor, Foreign Exchange Markets (International Library of Critical Writings in Financial Economics), Edward Elgar Publishing Ltd (2005) ISBN 1-84064-831-7 432 pp pp. 3901-3903

Anna Naszodi

Commodities and Commodity Derivatives, Modeling and Pricing for Agriculturals, Metals and Energy, Helyette Geman, Wiley Finance (2005). 416 pages, ISBN: 978-0-470-01218-5 pp. 3904-3906

Zita Marossy

Elements of the Euro Area - Integrating Financial Markets, J. Berg, M. Grande, F.P. Mongelli, Ashgate Publishing (2005). p. 264, ISBN: 0 7546 4320 4 pp. 3907-3908

Áron Gereben

Volume 31, issue 11, 2007

Editorial pp. v-vi

Farid AitSahlia

Equilibrium with investors using a diversity of deviation measures pp. 3251-3268

R. Tyrrell Rockafellar, Stan Uryasev and M. Zabarankin

A model for tax advantages of portfolios with many assets pp. 3269-3290

John Birge and Song Yang

Incentives and risk taking in hedge funds pp. 3291-3310

Roy Kouwenberg and William T. Ziemba

Generalized DEA model of fundamental analysis and its application to portfolio optimization pp. 3311-3335

N.C.P. Edirisinghe and X. Zhang

A dynamic model of active portfolio management with benchmark orientation pp. 3336-3356

Yonggan Zhao

Valuation of synthetic CDOs pp. 3357-3376

Ian Iscoe and Alexander Kreinin

Conditions on option prices for absence of arbitrage and exact calibration pp. 3377-3397

Laurent Cousot

Discrete hedging of American-type options using local risk minimization pp. 3398-3419

Thomas F. Coleman, Dmitriy Levchenkov and Yuying Li

A numerical method to price exotic path-dependent options on an underlying described by the Heston stochastic volatility model pp. 3420-3437

Luca Vincenzo Ballestra, Graziella Pacelli and Francesco Zirilli

Pricing exotic options with L-stable Pade schemes pp. 3438-3461

A.Q.M. Khaliq, D.A. Voss and M. Yousuf

Spot and derivative pricing in the EEX power market pp. 3462-3485

Michael Bierbrauer, Christian Menn, Svetlozar T. Rachev and Stefan Truck

Fundamental indexation via smoothed cap weights pp. 3486-3502

Chen Chen, Rong Chen and Gilbert Bassett

Covariance complexity and rates of return on assets pp. 3503-3523

Leonard C. MacLean, Michael E. Foster and William T. Ziemba

Financial prediction with constrained tail risk pp. 3524-3538

A. Alexandre Trindade, Stan Uryasev, Alexander Shapiro and Grigory Zrazhevsky

Volume 31, issue 10, 2007

The industrial organization of post-trade clearing and settlement pp. 2945-2961

Alistair Milne

Interlinking securities settlement systems: A strategic commitment? pp. 2962-2977

Karlo Kauko

Stock exchange business models and their operative performance pp. 2978-3012

Baris Serifsoy

Guess what: It's the settlements! Vertical integration as a barrier to efficient exchange consolidation pp. 3013-3033

Thorsten V. Koppl and Cyril Monnet

Settling for efficiency - A framework for the European securities transaction industry pp. 3034-3057

Baris Serifsoy and Wei[ss], Marco

Cost efficiency in the European securities settlement and depository industry pp. 3058-3079

Patrick Van Cayseele and Christophe Wuyts

Partial acquisitions, the acquisition probability hypothesis, and the abnormal returns to partial targets pp. 3080-3101

Aigbe Akhigbe, Anna D. Martin and Ann Marie Whyte

Consumer expectations and short-horizon return predictability pp. 3102-3124

Egon Kalotay, Philip Gray and Samantha Sin

Yield-factor volatility models pp. 3125-3144

Christophe Perignon and Daniel R. Smith

Are current syndicated loan alliances related to past alliances? pp. 3145-3161

Claudia Champagne and Lawrence Kryzanowski

Does sovereign debt ratings news spill over to international stock markets? pp. 3162-3182

Miguel Ferreira and Paulo M. Gama

Implied volatility and future portfolio returns pp. 3183-3199

Prithviraj S. Banerjee, James Doran and David R. Peterson

Accounting for distress in bank mergers pp. 3200-3217

Michael Koetter, J. Bos, F. Heid, J.W. Kolari, Clemens Kool and D. Porath

Regulatory harmonization and the development of private equity markets pp. 3218-3250

Douglas Cumming and Sofia Johan

Volume 31, issue 9, 2007

International asset pricing models and currency risk: Evidence from Finland 1970-2004 pp. 2571-2590

Jan Antell and Mika Vaihekoski

An analysis of the disposition of assets in a joint venture pp. 2591-2611

Tomas Mantecon and Robert E. Chatfield

Do secondary shares in the IPO process have a negative effect on aftermarket performance? pp. 2612-2631

James C. Brau, Mingsheng Li and Jing Shi

Does the choice of performance measure influence the evaluation of hedge funds? pp. 2632-2647

Martin Eling and Frank Schuhmacher

The happy story of small business financing pp. 2648-2672

Ed Vos, Andy Jia-Yuh Yeh, Sara Carter and Stephen Tagg

Do managers time the market? Evidence from open-market share repurchases pp. 2673-2694

Konan Chan, David L. Ikenberry and Inmoo Lee

The trading behavior of institutions and individuals in Chinese equity markets pp. 2695-2710

Lilian Ng and Fei Wu

Intraday volume and volatility relations with and without public news pp. 2711-2729

Ali F. Darrat, Maosen Zhong and Louis T.W. Cheng

Privatization as an agency problem: Auctions versus private negotiations pp. 2730-2750

Zsuzsanna Fluck, Kose John and S. Abraham Ravid

Volatility clustering, leverage effects, and jump dynamics in the US and emerging Asian equity markets pp. 2751-2769

Elton Daal, Atsuyuki Naka and Jung-Suk Yu

Quote-based competition, market share, and execution quality in NASDAQ-listed securities pp. 2770-2795

Kee H. Chung and Chairat Chuwonganant

Mutual fund flows and investor returns: An empirical examination of fund investor timing ability pp. 2796-2816

Geoffrey C. Friesen and Travis R.A. Sapp

A note on the price- and cost structure of retail payment services in the Swedish banking sector 2002 pp. 2817-2827

Gabriela Guibourg and Bjorn Segendorff

Are there windows of opportunity for convertible debt issuance? Evidence for Western Europe pp. 2828-2846

Marie Dutordoir and Linda Van de Gucht

Day-of-the-week effect in the Taiwan foreign exchange market pp. 2847-2865

Mei-Chu Ke, Yi-Chein Chiang and Tung Liang Liao

Japan's banking crisis: An event-study perspective pp. 2866-2885

Hideaki Miyajima and Yishay Yafeh

Does post-crisis restructuring decrease the availability of banking services? The case of Turkey pp. 2886-2905

Evren Damar

Centralised order books versus hybrid order books: A paired comparison of trading costs on NSC (Euronext Paris) and SETS (London Stock Exchange) pp. 2906-2924

Jean-Francois Gajewski and Carole Gresse

The eurosystem money market auctions: A banking perspective pp. 2925-2944

Ben Craig and Falko Fecht

Volume 31, issue 8, 2007

Introduction pp. 2231-2232

Yuri (Yuriy) Kaniovski (Kaniovskyi), Maurizio Murgia and G. Pflug

Pricing nondiversifiable credit risk in the corporate Eurobond market pp. 2233-2263

J. Abaffy, M. Bertocchi, J. Dupacova, V. Moriggia and G. Consigli

Regime switching based portfolio selection for pension funds pp. 2265-2280

Karl Frauendorfer, Ulrich Jacoby and Alvin Schwendener

Using Tucker's theorem of the alternative to simplify, review and expand discrete arbitrage theory pp. 2281-2302

Markku Kallio and William T. Ziemba

Risk assessment for credit portfolios: A coupled Markov chain model pp. 2303-2323

Yuri (Yuriy) Kaniovski (Kaniovskyi) and G.Ch. Pflug

Momentum strategies based on reward-risk stock selection criteria pp. 2325-2346

Svetlozar Rachev, Teo Jasic, Stoyan Stoyanov and Frank Fabozzi

Potential cost synergies from banks acquiring real estate brokerage services pp. 2347-2363

Danielle Lewis and James R. Webb

Analyzing joint ventures as corporate control activity pp. 2365-2382

Myron B. Slovin, Marie E. Sushka and Tomas P. Mantecon

Theory and evidence on the dynamic interactions between sovereign credit default swaps and currency options pp. 2383-2403

Peter Carr and Liuren Wu

Selecting copulas for risk management pp. 2405-2423

Erik Kole, Kees Koedijk and Marno Verbeek

Asymmetric information and liquidity constraints: A new test pp. 2425-2451

Dmytro Holod and Joe Peek

Diversification and the cost of debt of bank holding companies pp. 2453-2473

Deng, Saiying (Esther), Elyas Elyasiani and Connie X. Mao

A simple model of credit contagion pp. 2475-2492

Daniel Egloff, Markus Leippold and Paolo Vanini

Are bank shareholders enemies of regulators or a potential source of market discipline? pp. 2493-2515

Sangkyun Park and Stavros Peristiani

Coherent measures of risk from a general equilibrium perspective pp. 2517-2534

Péter Csóka, P. Jean-Jacques Herings and László Kóczy

Does implied volatility provide any information beyond that captured in model-based volatility forecasts? pp. 2535-2549

Ralf Becker, Adam Clements and Scott I. White

The limits of diversification when losses may be large pp. 2551-2569

Rustam Ibragimov and Johan Walden

Volume 31, issue 7, 2007

Developments in European banking pp. 1907-1910

Philip Molyneux and John Wilson

European banking: An overview pp. 1911-1935

John Goddard, Philip Molyneux, John Wilson and Manouche Tavakoli

Finance and growth in the EU: New evidence from the harmonisation of the banking industry pp. 1937-1954

Diego Romero-Ávila

Obstacles to a global banking system: "Old Europe" versus "New Europe" pp. 1955-1973

Allen Berger

Small European banks: Benefits from diversification? pp. 1975-1998

Steve Mercieca, Klaus Schaeck and Simon Wolfe

Does the stock market value bank diversification? pp. 1999-2023

Lieven Baele, Olivier De Jonghe and Rudi Vander Vennet

Competitive conditions among the major British banks pp. 2025-2042

Kent Matthews, Victor Murinde and Tianshu Zhao

The determinants of bank margins in European banking pp. 2043-2063

Santiago Carbo Valverde and Francisco Rodríguez Fernández

Nonparametric efficiency estimation in stochastic environments: Noise-to-signal estimation, finite sample performance and hypothesis testing pp. 2065-2080

Thierry Post

Is there a single frontier in a single European banking market? pp. 2081-2102

J. Bos and H. Schmiedel

The cost of market power in banking: Social welfare loss vs. cost inefficiency pp. 2103-2125

Joaquin Maudos and Juan Fernandez de Guevara

Ownership structure, risk and performance in the European banking industry pp. 2127-2149

Giuliano Iannotta, Giacomo Nocera and Andrea Sironi

Shareholder value efficiency in European banking pp. 2151-2171

Franco Fiordelisi

Do cross-country differences in bank efficiency support a policy of "national champions"? pp. 2173-2188

Santiago Carbo Valverde, David B. Humphrey and Rafael Lopez del Paso

Analysing the determinants of performance of best and worst European banks: A mixed logit approach pp. 2189-2203

Carlos Barros, Candida Ferreira and Jonathan Williams

Does IT investment improve bank performance? Evidence from Europe pp. 2205-2230

Elena Beccalli

Volume 31, issue 6, 2007

Editorial pp. 1577-(null)

Fariborz Moshirian

Globalisation and the role of effective international institutions pp. 1579-1593

Fariborz Moshirian

Migration, spillovers, and trade diversion: The impact of internationalization on domestic stock market activity pp. 1595-1612

Ross Levine and Sergio Schmukler

The mix of international banks' foreign claims: Determinants and implications pp. 1613-1631

Alicia Garcia Herrero and Maria Martinez Peria

Concentration and foreign penetration in Latin American banking sectors: Impact on competition and risk pp. 1633-1647

Eduardo Levy Yeyati and Alejandro Micco

ADR holdings of US-based emerging market funds pp. 1649-1667

Reena Aggarwal, Sandeep Dahiya and Leora Klapper

How banks go abroad: Branches or subsidiaries? pp. 1669-1692

Eugenio Cerutti, Giovanni Dell'ariccia and Maria Martinez Peria

International portfolio diversification benefits: Cross-country evidence from a local perspective pp. 1693-1712

Joost Driessen and Luc Laeven

Soft related lending: A tale of two Korean banks pp. 1713-1729

John P. Bonin and Masami Imai

Stock market development under globalization: Whither the gains from reforms? pp. 1731-1754

Augusto de la Torre, Juan Carlos Gozzi and Sergio Schmukler

Testing for negative expected market return premia pp. 1755-1770

Venkat Eleswarapu and Rex Thompson

The impact of institutional ownership on corporate operating performance pp. 1771-1794

Marcia Millon Cornett, Alan Marcus, Anthony Saunders and Hassan Tehranian

The incentive to give incentives: On the relative seniority of debt claims and managerial compensation pp. 1795-1815

Riccardo Calcagno and Luc Renneboog

Using self-organizing maps to adjust for intra-day seasonality pp. 1817-1838

Walid Ben Omrane and Eric de Bodt

Model-free hedge ratios and scale-invariant models pp. 1839-1861

Carol Alexander and Leonardo M. Nogueira

Momentum strategies in commodity futures markets pp. 1863-1886

Joelle Miffre and Georgios Rallis

Basel's value-at-risk capital requirement regulation: An efficiency analysis pp. 1887-1906

Guy Kaplanski and Haim Levy

Volume 31, issue 5, 2007

Inter-temporal optimization in a stochastic environment: Introduction pp. 1287-1293

J.L. Stein and Ziyu Zheng

Liquidation of a large block of stock pp. 1295-1305

M. Pemy, Q. Zhang and G. Yin

Optimal life insurance purchase and consumption/investment under uncertain lifetime pp. 1307-1319

Stanley R. Pliska and Jinchun Ye

United States current account deficits: A stochastic optimal control analysis pp. 1321-1350

Jerome L. Stein

Technical analysis compared to mathematical models based methods under parameters mis-specification pp. 1351-1373

Christophette Blanchet-Scalliet, Awa Diop, Rajna Gibson, Denis Talay and Etienne Tanre

Correlation expansions for CDO pricing pp. 1375-1398

Paul Glasserman and Sira Suchintabandid

Extreme co-movements and extreme impacts in high frequency data in finance pp. 1399-1415

Zhengjun Zhang and Kazuhiko Shinki

On the behavioral differences between professional and amateur investors after the weekend pp. 1417-1426

Itzhak Venezia and Zur Shapira

Exploiting short-run predictability pp. 1427-1440

Francisco Gomes

The emergence of market monitoring in Japanese banks: Evidence from the subordinated debt market pp. 1441-1460

Masami Imai

The Euro and European financial market dependence pp. 1461-1481

Söhnke Bartram, Stephen J. Taylor and Yaw-Huei Wang

IPO auctions and private information pp. 1483-1500

Ji-Chai Lin, Yi-Tsung Lee and Yu-Jane Liu

Closed-form transformations from risk-neutral to real-world distributions pp. 1501-1520

Xiaoquan Liu, Mark B. Shackleton, Stephen J. Taylor and Xinzhong Xu

Bidding behavior in the longer term refinancing operations of the European Central Bank: Evidence from a panel sample selection model pp. 1521-1543

Tobias Linzert, Dieter Nautz and Ulrich Bindseil

Noise sensitivity of portfolio selection under various risk measures pp. 1545-1573

Imre Kondor, Szilard Pafka and Gabor Nagy

Erratum to "An empirical evaluation of the overconfidence hypothesis" [Journal of Banking and Finance 30 (9) (2006) 2489-2515] pp. 1575-1573

Wen-I Chuang and Bong-Soo Lee

Volume 31, issue 4, 2007

Bricks versus Clicks: The changing nature of banking in the 21st century pp. 999-1001

Linda Allen, Anoop Rai and Anoop Rai

Cross-listing and legal bonding: Evidence from mergers and acquisitions pp. 1003-1031

Natasha Burns, Bill B. Francis and Iftekhar Hasan

How the Internet affects output and performance at community banks pp. 1033-1060

Robert DeYoung, William Lang and Daniel L. Nolle

ATM surcharge bans and bank market structure: The case of Iowa and its neighbors pp. 1061-1082

Timothy H. Hannan

Is the Internet delivery channel changing banks' performance? The case of Spanish banks pp. 1083-1099

Ignacio Hernando and Maria J. Nieto

The return to retail and the performance of US banks pp. 1101-1133

Beverly Hirtle and Kevin J. Stiroh

Value at risk and the cross-section of hedge fund returns pp. 1135-1166

Turan G. Bali, Suleyman Gokcan and Bing Liang

Convergence and risk-return linkages across financial service firms pp. 1167-1190

Elyas Elyasiani, Iqbal Mansur and Michael S. Pagano

Cyclicality in catastrophic and operational risk measurements pp. 1191-1235

Linda Allen and Turan G. Bali

The impact of bank consolidation on small business credit availability pp. 1237-1263

Steven Craig and Pauline Hardee

Evaluating the Nordea experiment: Evidence from market and accounting data pp. 1265-1286

Lawrence G. Goldberg, Richard J. Sweeney and Clas Wihlborg

Volume 31, issue 3, 2007

Determinants of bond tender premiums and the percentage tendered pp. 547-566

Steven V. Mann and Eric A. Powers

Regulation fair disclosure and the market's reaction to analyst investment recommendation changes pp. 567-588

Marcia Millon Cornett, Hassan Tehranian and Atakan Yalcin

The collateral value of fine art pp. 589-607

Clare McAndrew and Rex Thompson

Long-run performance of global versus domestic initial public offerings pp. 609-627

Congsheng Wu and Chuck C.Y. Kwok

Restructuring, consolidation and competition in Latin American banking markets pp. 629-639

H. Semih Yildirim and George C. Philippatos

Financial market development and the importance of internal cash: Evidence from international data pp. 641-658

Saiyid S. Islam and Abon Mozumdar

Competition without fungibility: Evidence from alternative market structures for derivatives pp. 659-677

Söhnke Bartram and Frank Fehle

IPOs, trade sales and liquidations: Modelling venture capital exits using survival analysis pp. 679-702

Pierre Giot and Armin Schwienbacher

Long-run returns following open market share repurchases pp. 703-717

William J. McNally and Brian F. Smith

Do central banks react to the stock market? The case of the Bundesbank pp. 719-733

Martin T. Bohl, Pierre L. Siklos and Thomas Werner

The pricing of leverage products: An empirical investigation of the German market for `long' and `short' stock index certificates pp. 735-750

Sascha Wilkens and Pavel A. Stoimenov

The adjustment of credit ratings in advance of defaults pp. 751-767

Andre Guttler and Mark Wahrenburg

Market price accounting and depositor discipline: The case of Japanese regional banks pp. 769-786

Mark Spiegel and Nobuyoshi Yamori

Bubbles in the dividend-price ratio? Evidence from an asymmetric exponential smooth-transition model pp. 787-804

David G. McMillan

FDI versus exports: Evidence from German banks pp. 805-826

Claudia Buch and Alexander Lipponer

Retail banking and behavioral financial engineering: The case of structured products pp. 827-844

Wolfgang Breuer and Achim Perst

Corporate credit risk modeling and the macroeconomy pp. 845-868

Kenneth Carling, Tor Jacobson, Jesper Lindé and Kasper Roszbach

Contracting costs and the window of opportunity for straight debt issues pp. 869-888

Sudha Krishnaswami and Devrim Yaman

Corporate use of derivatives and excess value of diversification pp. 889-913

J. Barry Lin, Christos Pantzalis and Jung Chul Park

Actual share repurchases, timing and liquidity pp. 915-938

Edith Ginglinger and Jacques Hamon

Beyond segmentation: The case of China's repo markets pp. 939-954

Longzhen Fan and Chu Zhang

Profitability of momentum strategies in international markets: The role of business cycle variables and behavioural biases pp. 955-972

Antonios Antoniou, Herbert Y.T. Lam and Krishna Paudyal

Cross-sectional learning and short-run persistence in mutual fund performance pp. 973-997

Joop Huij and Marno Verbeek

Volume 31, issue 2, 2007

Can Markov switching models predict excess foreign exchange returns? pp. 279-296

Michael Dueker and Christopher Neely

Privatization and stock market liquidity pp. 297-316

Bernardo Bortolotti, Frank de Jong, Giovanna Nicodano and Ibolya Schindele

Home sweet home: Home bias and international diversification among individual investors pp. 317-333

Anders Karlsson and Lars Norden

Banking relationships and access to equity capital markets: Evidence from Japan's main bank system pp. 335-360

Kenji Kutsuna, Janet Kiholm Smith and Richard L. Smith

Interest rates and efficiency in medieval wool forward contracts pp. 361-380

Adrian Bell, Chris Brooks and Paul Dryburgh

Limited participation and the closed-end fund discount pp. 381-399

Youngsoo Kim and Bong Soo Lee

Basel II and bank lending to emerging markets: Evidence from the German banking sector pp. 401-418

Thilo Liebig, Daniel Porath, Beatrice Weder di Mauro and Michael Wedow

Portfolio efficiency and discount factor bounds with conditioning information: An empirical study pp. 419-437

Abhay Abhyankar, Devraj Basu and Alexander Stremme

A computational approach to the optimal structure of bank input prices pp. 439-453

Bryan Stanhouse and Matthew Ingram

Stock returns, dividend yield, and book-to-market ratio pp. 455-475

Xiaoquan Jiang and Bong-Soo Lee

Switching costs and relationship profits in bank lending pp. 477-493

Timo Vesala

The relationship between risk and expected return in Europe pp. 495-512

Angel Leon, Juan M. Nave and Gonzalo Rubio

Financial development, bank discrimination and trade credit pp. 513-530

Ying Ge and Jiaping Qiu

Amazing discovery: Vincenz Bronzin's option pricing models pp. 531-546

Heinz Zimmermann and Wolfgang Hafner

Volume 31, issue 1, 2007

Editorial pp. 1-1

Fariborz Moshirian

Global financial services and a global single currency pp. 3-9

Fariborz Moshirian

Does market size structure affect competition? The case of small business lending pp. 11-33

Allen Berger, Richard Rosen and Gregory Udell

Corporate valuation around the world: The effects of governance, growth, and openness pp. 35-56

Choong Tze Chua, Cheol S. Eun and Sandy Lai

Are embedded calls valuable? Evidence from agency bonds pp. 57-79

Tao-Hsien Dolly King

Financial contagion and the role of the central bank pp. 81-101

Fabio Castiglionesi

Firm value, illiquidity risk and liquidity insurance pp. 103-120

Michele Moretto and Roberto Tamborini

The liquidity of bank assets and banking stability pp. 121-139

Wolf Wagner

Stock exchange governance initiatives: Evidence from the Italian STARs pp. 141-159

Kimberly C. Gleason, Jeff Madura and Vijaya Subrahmanyam

A note on the importance of overnight information in risk management models pp. 161-180

Nick Taylor

Modelling the economic value of credit rating systems pp. 181-198

Rainer Jankowitsch, Stefan Pichler and Walter S.A. Schwaiger

Hedge fund portfolio construction: A comparison of static and dynamic approaches pp. 199-217

Daniel Giamouridis and Ioannis Vrontos

Bank ownership and performance. Does politics matter? pp. 219-241

Alejandro Micco, Ugo Panizza and Monica Yanez-Pagans

Time-varying risk aversion and asset prices pp. 243-257

George Li

Competition, transmission and bank pricing policies: Evidence from Belgian loan and deposit markets pp. 259-278

Ferre De Graeve, Olivier De Jonghe and Rudi Vander Vennet