The Quarterly Review of Economics and Finance

1993 - 2025

Current editor(s): R. J. Arnould and J. E. Finnerty

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Volume 49, issue 4, 2009

Firm entry, product repositioning and welfare pp. 1225-1235

Eleftherios Zacharias

The effect of non-pecuniary motivations on labor supply pp. 1236-1259

Y. Hossein Farzin

An exploratory study of FDA new drug review times, prescription drug user fee acts, and R&D spending pp. 1260-1274

John A. Vernon, Joseph H. Golec, Randall Lutter and Clark Nardinelli

Payout initiation by IPO firms: The choice between dividends and share repurchases pp. 1275-1297

Bharat A. Jain, Chander Shekhar and Violet Torbey

Heterogeneous relationship between IPO return and risk across idiosyncratic variance characteristics pp. 1298-1316

Nancy Beneda and Yilei Zhang

Assessing output and productivity growth in the banking industry pp. 1317-1340

Panayiotis Athanasoglou, Evangelia A. Georgiou and Christos C. Staikouras

Commercial property prices and bank performance pp. 1341-1359

E Davis and Haibin Zhu

Investigating the effectiveness of convertible bonds in reducing agency costs: A Monte-Carlo approach pp. 1360-1370

Mazhar A. Siddiqi

Information and trade sizes: The case of short sales pp. 1371-1388

Benjamin Blau, Bonnie F. Van Ness and Robert A. Van Ness

CEO compensation structure following succession: Evidence of optimal incentives with career concerns pp. 1389-1409

Eahab Elsaid, Wallace N. Davidson and Bradley W. Benson

Is the secondary loan market valuable to borrowers? pp. 1410-1428

Joao Santos and Peter Nigro

Requiem for market discipline and the specter of TBTF in Japanese banking pp. 1429-1459

Adrian Pop and Diana Pop

The non-relevance of the elusive holy grail of asset pricing tests: The "true" market portfolio does not alter CAPM validity conclusions pp. 1460-1475

Cheekiat Low and Subhankar Nayak

Comment on "The weighted average cost of capital is not quite right" pp. 1476-1480

Benjamin Bade

"The weighted average cost of capital is not quite right": A rejoinder pp. 1481-1484

Axel Pierru

Pricing unexpected illiquidity pp. 1485-1494

Ebenezer Asem

Volume 49, issue 3, 2009

Short-term spot rate models with nonparametric deterministic drift pp. 731-747

Haitham Al-Zoubi

Acquisitions of bankrupt assets pp. 748-759

Surendranath R. Jory and Jeff Madura

Capital accumulation and regulation pp. 760-771

Ensar Yilmaz

Determinants of financial distress and bankruptcy in highly levered transactions pp. 772-783

Paul Halpern, Robert Kieschnick and Wendy Rotenberg

What is the best way to impede a central bank? pp. 784-797

Peter VanderHart

Optimal money supply in models with endogenous discount factor pp. 798-810

Yoshimasa Aoki and Yasunobu Tomoda

A dynamic CAPM with supply effect: Theory and empirical results pp. 811-828

Cheng-Few Lee, Chiung-Min Tsai and Alice C. Lee

Shock and volatility spillovers among equity sectors of the Gulf Arab stock markets pp. 829-842

Shawkat Hammoudeh, Yuan Yuan and Michael McAleer

Deregulation and liberalization of the Chinese stock market and the improvement of market efficiency pp. 843-857

Jui-Cheng Hung

Volatility and error transmission spillover effects: Evidence from three European financial regions pp. 858-869

Athanasios Koulakiotis, Apostolos Dasilas and Nicholas Papasyriopoulos

Revisiting dividend yield dynamics and returns predictability: Evidence from a time-varying ESTR model pp. 870-883

David G. McMillan

Gold and platinum: Toward solving the price puzzle pp. 884-892

Adrienne A. Kearney and Raymond E. Lombra

On the relation between intellectual collaboration and intellectual output: Evidence from the finance academe pp. 893-916

Kee H. Chung, Raymond Cox and Kenneth Kim

How quickly is temporary market inefficiency removed? pp. 917-930

Ben Marshall

On the dynamics of the Israeli-Arab arms race pp. 931-943

Aamer Abu-Qarn and Suleiman Abu-Bader

On the distributional effects of trade policy: Dynamics of household saving and asset prices pp. 944-970

Luis San Vicente Portes

A methodology for the choice of the best fitting continuous-time stochastic models of crude oil price pp. 971-1000

Bilel Kaffel and Fathi Abid

Is PPP sensitive to time-varying trade weights in constructing real effective exchange rates? pp. 1001-1008

Mohsen Bahmani-Oskooee, Scott Hegerty and Ali Kutan

Rational plunging and the option value of sequential investment: The case of petroleum exploration pp. 1009-1033

James Smith and Rex Thompson

The impacts of index options on the underlying stocks: The case of the S&P 100 pp. 1034-1046

Shinhua Liu

Predicting bankruptcy in the Texas nursing facility industry pp. 1047-1064

Kris Joseph Knox, Eric C. Blankmeyer, José A. Trinidad and J.R. Stutzman

The stock performance of America's 100 Best Corporate Citizens pp. 1065-1080

Stephen Brammer, Chris Brooks and Stephen Pavelin

Changes in the liquidity of closed-end country funds after the introduction of World Equity Benchmarks pp. 1081-1094

Honghui Chen, Joel Morse and Hoang Huy Nguyen

Put your money where your mouth is: Do financial firms follow their own recommendations? pp. 1095-1112

Kin Wai Chan, Charles Chang and Albert Wang

Long-run underperformance following private equity placements: The role of growth opportunities pp. 1113-1128

De-Wai Chou, Michael Gombola and Feng-Ying Liu

The impact of individual and institutional investor sentiment on the market price of risk pp. 1129-1145

Rahul Verma and Gokce Soydemir

Short sale and stock returns: Evidence from the Taiwan Stock Exchange pp. 1146-1158

Ou Hu, Zhaodan Huang and Bih-shuang Liao

Too busy to show up? An analysis of directors' absences pp. 1159-1171

Pornsit Jiraporn, Wallace N. Davidson , Peter DaDalt and Yixi Ning

The persistence of the small firm/January effect: Is it consistent with investors' learning and arbitrage efforts? pp. 1172-1193

Kathryn E. Easterday, Pradyot K. Sen and Jens A. Stephan

Factors affecting secondary share offerings in the IPO process pp. 1194-1212

Dan Klein and Mingsheng Li

The weighted average cost of capital is not quite right: Reply to M. Pierru pp. 1213-1218

Richard A. Miller

"The weighted average cost of capital is not quite right": A comment pp. 1219-1223

Axel Pierru

Volume 49, issue 2, 2009

Agency costs, corporate governance mechanisms and ownership structure in large UK publicly quoted companies: A panel data analysis pp. 139-158

Phillip J. McKnight and Charlie Weir

Premium, merger fees and the choice of investment banks: A simultaneous analysis pp. 159-177

Salim Chahine and Ahmad Ismail

Diversification discount, information rents, and internal capital markets pp. 178-196

Chongwoo Choe and Xiangkang Yin

Determinants of capital structure choice: A structural equation modeling approach pp. 197-213

Chingfu Chang, Alice C. Lee and Cheng F. Lee

The fed model: The bad, the worse, and the ugly pp. 214-238

Javier Estrada

Random monitoring in financing relationships pp. 239-252

Hind Sami

Monitoring and governance of private banks pp. 253-264

Elizabeth Webb Cooper

Venture capitalist monitoring: Evidence from governance structures pp. 265-282

Terry L. Campbell and Melissa B. Frye

Stars, crows, and doji: The use of candlesticks in stock selection pp. 283-294

Marshall J. Horton

Production functions and productivity of family firms: Evidence from the S&P 500 pp. 295-307

Minna Martikainen, Jussi Nikkinen and Sami Vähämaa

Hysteresis versus NAIRU and convergence versus divergence: The behavior of regional unemployment rates in Brazil pp. 308-322

Fábio Gomes and Cleomar Gomes Da Silva

The effect of non-rural hospital mergers and acquisitions: An examination of cost and price outcomes pp. 323-342

Heather Radach Spang, Richard J. Arnould and Gloria J. Bazzoli

An analysis of the medical expense deduction under the U.S. income tax system pp. 343-356

James S. Serocki and Kevin J. Murphy

Visibility effects and timing in stock listing changes: Evidence from operating performance pp. 357-377

George J. Papaioannou, Nickolaos G. Travlos and K.G. Viswanathan

Do fixed income mutual fund managers have managerial skills? pp. 378-397

Ding Du, Zhaodan Huang and Peter J. Blanchfield

The market versus the analyst: Biases and predictive ability pp. 398-416

Richard B. Carter and Troy J. Strader

A demonstration of the non-necessity of marginal conditional stochastic dominance for portfolio inefficiency pp. 417-423

Duo Zhang

What happens to CEO compensation following turnover and succession? pp. 424-447

Eahab Elsaid and Wallace N. Davidson

Do investors still benefit from international diversification with investment constraints? pp. 448-483

Wan-Jiun Paul Chiou, Alice C. Lee and Chiu-Chi A. Chang

Homeownership and mixed-asset portfolio allocations pp. 484-500

Doug Waggle and Don T. Johnson

Portfolio choice, behavioral preferences and equity home bias pp. 501-520

Alessandro Magi

The impact of deviation from relative purchasing power parity equilibrium on U.S. foreign direct investment pp. 521-550

Axel Grossmann, Marc W. Simpson and Cynthia J. Brown

Would a stock by any other ticker smell as sweet? pp. 551-561

Alex Head, Gary Smith and Julia Wilson

An analysis of the opening mechanisms of Exchange Traded Fund markets pp. 562-577

Vanthuan Nguyen and Chanwit Phengpis

Volatility persistence, long memory and time-varying unconditional mean: Evidence from 10 equity indices pp. 578-595

David G. McMillan and Isabel Ruiz

Measuring the economic significance of mean-variance spanning pp. 596-616

Paskalis Glabadanidis

An event time study of the price reaction to large retail trades pp. 617-632

Alex Frino, Elvis Jarnecic and Andrew Lepone

Fiscal policy and stock market efficiency: Evidence for the United States pp. 633-650

Nikiforos Laopodis

Has bank consolidation in Korea lessened competition? pp. 651-667

Kang H. Park

Stock returns and economic activity in mature and emerging markets pp. 668-685

Ekaterini Tsouma

Pricing and optimality with default spreads pp. 686-692

José Fajardo

Competitive behavior in Middle East and North Africa banking systems pp. 693-710

Rima Turk-Ariss

A note on inventories and commercial paper yields pp. 711-719

Srinivas Nippani, Steven S. Shwiff and Augustine C. Arize

Valuing the option to purchase an asset at a proportional discount: A correction pp. 720-724

Javier Navas

Value at risk: Is a theoretically consistent axiomatic formulation possible? pp. 725-729

Domingo Castelo Joaquin

Volume 49, issue 1, 2009

Risk control measures in payment systems pp. 1-25

Francisco Callado-Muñoz

How are pension integration and pension benefits related? pp. 26-41

Keith Bender

The short-run impact of the stock market appreciation of the 1980s and 1990s on U.S. income inequality pp. 42-53

Joachim Zietz and Xiaolin Zhao

Long-term stock performance following extraordinary and special cash dividends pp. 54-73

De-Wai Chou, Yi Liu and Zaher Zantout

Federal budget deficits and long-term interest rates in USA pp. 74-84

Khurshid Kiani

The determinants of corporate bond yields pp. 85-109

Sheen Liu, Jian Shi, Junbo Wang and Chunchi Wu

The day of the week effect in IPO initial returns pp. 110-127

Travis L. Jones and James A. Ligon

The weighted average cost of capital is not quite right pp. 128-138

Richard A. Miller