01654nas a2200169 4500008004100000245009600041210006900137260000900206520103700215653001201252653001701264100001801281700002001299700001901319700001801338856012801356 2023 eng d00aAre Family Firms More Efficient? Revisiting the U-Shaped Curve of Firm Scale and Efficiency0 aAre Family Firms More Efficient Revisiting the UShaped Curve of c20233 aThis study applies a stochastic frontier model to examine the relationship between firm size and efficiency using a novel approach. The first novelty is that this study examines large and small firms separately to allow for heterogeneity between firm group sizes in terms of measuring the size-efficiency relationship. The second is that we use a modified frontier model which explicitly includes a family firm variable when measuring firm efficiency. Empirical results reveal that firms are in fact heterogeneous, with small-and-medium-sized enterprises (SMEs) exhibiting a U-shaped scale efficiency curve, while large enterprises (LE) exhibit an efficiency curve which is positive and linear. Robust results also confirm that family firms are relatively more efficient than non-family firms. In addition, while controlling for family firms does not appear to change the firm’s size-efficiency dynamics, failure to control for family firms leads to a bias in characterizing the nature of the firm’s production returns to scale.10aFinance10aOSU-Cascades1 aElston, Julie1 aZhang, Yingchao1 aChen, Ku-Hsieh1 aChen, Pei-Hwa u/biblio/are-family-firms-more-efficient-revisiting-u-shaped-curve-firm-scale-and-efficiency00474nas a2200157 4500008004100000245004800041210004800089260000900137300001400146490000700160653001500167653001200182100001800194700001600212856008800228 2023 eng d00aCorporate Reputation and Hedging Activities0 aCorporate Reputation and Hedging Activities c2023 a1223-12470 v6310aAccounting10aFinance1 aDeng, Junfang1 aYang, Jimmy u/biblio/corporate-reputation-and-hedging-activities00501nas a2200169 4500008004100000245004800041210004800089260000900137300001100146490000800157653001200165100002000177700001800197700001900215700001600234856008100250 2023 eng d00aIntraday Momentum in the VIX Futures Market0 aIntraday Momentum in the VIX Futures Market c2023 a1067460 v14810aFinance1 aHuang, Hong-Gia1 aTsai, Wei-Che1 aWeng, Pei-Shih1 aYang, Jimmy u/biblio/intraday-momentum-vix-futures-market00539nas a2200133 4500008004100000245008100041210006900122260002700191653001200218100001800230700002000248700001600268856012100284 2022 eng d00aAggregate 52-week high, limited attention, and time-varying momentum profits0 aAggregate 52week high limited attention and timevarying momentum aVictoria, Canadac202210aFinance1 aHung, Weifeng1 aLin, Ching-Ting1 aYang, Jimmy u/biblio/aggregate-52-week-high-limited-attention-and-time-varying-momentum-profits-000562nas a2200157 4500008004100000245008100041210006900122260000900191300001100200490000800211653001200219100001800231700002000249700001600269856011900285 2022 eng d00aAggregate 52-week high, limited attention, and time-varying momentum profits0 aAggregate 52week high limited attention and timevarying momentum c2022 a1065310 v14110aFinance1 aHung, Weifeng1 aLin, Ching-Ting1 aYang, Jimmy u/biblio/aggregate-52-week-high-limited-attention-and-time-varying-momentum-profits00422nas a2200121 4500008004100000245005100041210005000092260002100142653001200163653001700175100001800192856009000210 2022 eng d00aChinese Capital Structure: Theory and Evidence0 aChinese Capital Structure Theory and Evidence aChicago Ilc202210aFinance10aOSU-Cascades1 aElston, Julie u/biblio/chinese-capital-structure-theory-and-evidence00421nas a2200121 4500008004100000245005100041210005000092260001800142653001200160653001700172100001800189856009200207 2022 eng d00aChinese Capital Structure: Theory and Evidence0 aChinese Capital Structure Theory and Evidence aChicagoc202210aFinance10aOSU-Cascades1 aElston, Julie u/biblio/chinese-capital-structure-theory-and-evidence-000584nas a2200169 4500008004100000245008300041210006900124260000900193300001100202490000700213653001200220100001400232700001400246700001600260700001900276856011900295 2022 eng d00aCrash-Based Quantitative Trading Strategies: Perspective of Behavioral Finance0 aCrashBased Quantitative Trading Strategies Perspective of Behavi c2022 a1021850 v4510aFinance1 aFang, Yan1 aYuan, Jie1 aYang, Jimmy1 aYing, Shangjun u/biblio/crash-based-quantitative-trading-strategies-perspective-behavioral-finance00501nas a2200145 4500008004100000245006600041210006500107260000900172300000900181653001200190100002000202700001900222700001600241856009800257 2022 eng d00aDoes the tail risk index matter in forecasting downside risk?0 aDoes the tail risk index matter in forecasting downside risk c2022 a1-1610aFinance1 aHung, Jui-Cheng1 aLiu, Hung-Chun1 aYang, Jimmy u/biblio/does-tail-risk-index-matter-forecasting-downside-risk00537nas a2200157 4500008004100000245009700041210006900138260000900207300001200216490000700228653001200235653001700247100001800264700002900282856006800311 2022 eng d00aAn Empirical Examination of Firm Growth in the MENA Region: Through the Lens of Gibrat's Law0 aEmpirical Examination of Firm Growth in the MENA Region Through c2022 a121-1310 v6010aFinance10aOSU-Cascades1 aElston, Julie1 aWeidinger, Alois, Konrad uhttps://www.springer.com/economics/microeconomics/journal/4081200452nas a2200121 4500008004100000245006400041210006200105260002700167653001200194653001700206100001800223856008900241 2022 eng d00aMyths from Silicon Valley -Is Tech difference than Detroit?0 aMyths from Silicon Valley Is Tech difference than Detroit aVienna, Austria.c202210aFinance10aOSU-Cascades1 aElston, Julie u/biblio/myths-silicon-valley-tech-difference-detroit00452nas a2200121 4500008004100000245006400041210006300105260001900168653001200187653001700199100001800216856009600234 2022 eng d00aWhat Does Sustainable Growth look in the Technology Sector?0 aWhat Does Sustainable Growth look in the Technology Sector aSlovakiac202210aFinance10aOSU-Cascades1 aElston, Julie u/biblio/what-does-sustainable-growth-look-technology-sector00445nas a2200121 4500008004100000245005600041210005600097260003300153653001200186653001700198100001800215856009000233 2021 eng d00aChallenges and Opportunities of Research in Austria0 aChallenges and Opportunities of Research in Austria aInvited Online Webinarc202110aFinance10aOSU-Cascades1 aElston, Julie u/biblio/challenges-and-opportunities-research-austria00700nas a2200193 4500008004100000245012100041210006900162260000900231300001200240490000700252653000800259653002300267653001200290653003200302100001600334700001500350700001700365856012400382 2021 eng d00aDestabilization and Consolidation: Conceptualizing, Measuring, and Validating the Dual Characteristics of Technology0 aDestabilization and Consolidation Conceptualizing Measuring and c2021 a104-1150 v5010aBIS10aBusiness Analytics10aFinance10aStrategy & Entrepreneurship1 aChen, Jiyao1 aShao, Rong1 aFan, Shaokun u/biblio/destabilization-and-consolidation-conceptualizing-measuring-and-validating-dual00544nas a2200157 4500008004100000245007300041210006900114260000900183300001200192490000700204653001200211100002000223700001600243700001600259856011100275 2021 eng d00aFamily control, external governance mechanisms, and dividend payouts0 aFamily control external governance mechanisms and dividend payou c2021 a198-2090 v7910aFinance1 aTeng, Chia-Chen1 aLi, Shaomin1 aYang, Jimmy u/biblio/family-control-external-governance-mechanisms-and-dividend-payouts00347nas a2200121 4500008004100000245002500041210002500066260002500091653001200116653001700128100001800145856006200163 2021 eng d00aFulbright in Austria0 aFulbright in Austria aWebinar onlinec202110aFinance10aOSU-Cascades1 aElston, Julie u/biblio/fulbright-austria00499nas a2200133 4500008004100000245007700041210006900118260000900187490000700196653001200203100002000215700001600235856011400251 2021 eng d00aMedia exposure on corporate social irresponsibility and firm performance0 aMedia exposure on corporate social irresponsibility and firm per c20210 v6810aFinance1 aTeng, Chia-Chen1 aYang, Jimmy u/biblio/media-exposure-corporate-social-irresponsibility-and-firm-performance00393nas a2200109 4500008004100000245005400041210005400095260000900149653001200158100001900170856009400189 2021 eng d00aPublic Information and Venture Capital Investment0 aPublic Information and Venture Capital Investment c202110aFinance1 aGibbons, Brian u/biblio/public-information-and-venture-capital-investment01319nas a2200169 4500008004100000245006600041210006400107260000900171300001000180490000700190520079300197653001200990100001601002700001801018700001601036856009701052 2021 eng d00aShare Pledging, Payout Policy, and the Value of Cash Holdings0 aShare Pledging Payout Policy and the Value of Cash Holdings c2021 a18-330 v613 aShare pledging for insiders’ personal bank loans is associated with the agency problems of insider risk aversion and stock price crash risk. We examine the relation between insider share pledging and the value of cash holdings using the pledging data of listed firms in Taiwan. We find that the value of cash holdings is lower for pledging firms, especially for those that are relatively more risk averse. Pledging firms that repurchase shares have a higher marginal value of cash than those with other payout methods, likely due to the role of repurchases in reducing the stock price crash risk. Our results show how insiders’ personal financing incentives arising from share pledging would affect the value of cash holdings from the perspective of agency problems and payout policy.10aFinance1 aChou, Robin1 aWang, Yu-Chun1 aYang, Jimmy u/biblio/share-pledging-payout-policy-and-value-cash-holdings00491nas a2200157 4500008004100000245005100041210005100092260000900143490000700152653001200159100001700171700002000188700001600208700001800224856009100242 2021 eng d00aTechnical expert CEOs and corporate innovation0 aTechnical expert CEOs and corporate innovation c20210 v6810aFinance1 aTing, Hsiu-I1 aWang, Ming-Chun1 aYang, Jimmy1 aTuan, Kai-Wen u/biblio/technical-expert-ceos-and-corporate-innovation01050nas a2200157 4500008004100000245003600041210003600077260000900113300000900122490000700131520063600138653001200774100001700786700001600803856007300819 2021 eng d00aTrader Positions in VIX Futures0 aTrader Positions in VIX Futures c2021 a1-170 v613 aWe investigate the dynamic changes in trader positions of market participants in the VIX futures markets. We find that in a low-VIX period, below the 23.81 threshold determined by our model, changes in VIX futures affect the trading decisions of dealers and leveraged fund managers, but in an opposite direction. During a high-VIX period, dealers and leveraged fund managers would then alter their trading strategies. We highlight the important role of exchange-traded products trading in hedging demand of dealers and show the impact on VIX futures. Trader positions are determinants of VIX futures prices, basis, and VIX premium.10aFinance1 aChen, Yu-Lun1 aYang, Jimmy u/biblio/trader-positions-vix-futures00535nas a2200157 4500008004100000245006800041210006800109260000900177300001200186490000700198653001200205100002000217700001900237700001600256856010500272 2021 eng d00aTrading activity and price discovery in Bitcoin futures markets0 aTrading activity and price discovery in Bitcoin futures markets c2021 a107-1200 v6210aFinance1 aHung, Jui-Cheng1 aLiu, Hung-Chun1 aYang, Jimmy u/biblio/trading-activity-and-price-discovery-bitcoin-futures-markets01507nas a2200145 4500008004100000245004600041210004600087260001800133520105600151653001201207100001901219700001701238700002401255856008201279 2020 eng d00aAnalyst Information Acquisition via EDGAR0 aAnalyst Information Acquisition via EDGAR aINFORMSc20203 aWe identify analysts’ information acquisition patterns by linking EDGAR (Electronic Data Gathering, Analysis, and Retrieval) server activity to analysts’ brokerage houses. Analysts rely on EDGAR in 24% of their estimate updates with an average of eight filings viewed. We document that analysts’ attention to public information is driven by the demand for information and the analysts’ incentives and career concerns. We find that information acquisition via EDGAR is associated with a significant reduction in analysts’ forecasting error relative to their peers. This relationship is likewise present when we focus on the intensity of analyst research. Attention to public information further enables analysts to provide forecasts for more time periods and more financial metrics. Informed recommendation updates are associated with substantial and persistent abnormal returns, even when the analyst accesses historical filings. Analysts’ use of EDGAR is associated with longer and more informative analysis within recommendation reports.10aFinance1 aGibbons, Brian1 aIliev, Peter1 aKalodimos, Jonathan u/biblio/analyst-information-acquisition-edgar00384nas a2200121 4500008004100000245003700041210003600078260002500114653001200139653001700151100001800168856007600186 2020 eng d00aAustria's Research Opportunities0 aAustrias Research Opportunities aOnline Webinarc202010aFinance10aOSU-Cascades1 aElston, Julie u/biblio/austrias-research-opportunities00540nas a2200133 4500008004100000245009100041210006900132260000900201653001200210100001700222700001500239700002700254856012500281 2020 eng d00aEarnings conference calls and institutional monitoring: Evidence from textual analysis0 aEarnings conference calls and institutional monitoring Evidence c202010aFinance1 aBerger, Dave1 aCao, Xueli1 aPukthuanthong, Kuntara u/biblio/earnings-conference-calls-and-institutional-monitoring-evidence-textual-analysis01926nas a2200157 4500008004100000245008300041210006900124260000900193490000800202520137100210653001201581653001501593100002401608700001901632856011701651 2020 eng d00aExperimental Shareholder Activism: A Novel Approach to Organizational Research0 aExperimental Shareholder Activism A Novel Approach to Organizati c20200 v1203 aDecision making processes and consequent policy decisions of top management teams often have tremendous impact on employee careers and wellbeing, but the difficulty of accessing executive decision making has made studying such processes especially difficult. Whereas scholars have often relied on their own professional networks to gather small samples of executives or leveraged proxy measures compiled from publicly-available documents, we propose and demonstrate an alternative approach which we term Experimental Shareholder Activism (ESA). ESA allows researchers to directly study executive leadership via the shareholder proposal process—under Rule 14a-8—by purchasing relatively small amounts of stock in a company, and experimentally manipulating features of shareholder proposals to elicit responses from key stakeholders within the company. This approach allows for the direct examination of executive decision making with the benefit of quasi-experimental design. We describe the method, identify vocational and career-relevant areas of inquiry best suited to ESA, and discuss manipulations readily embedded in shareholder proposals. We then provide a toolkit for scholars interested in studying executive decision making on employee career and Human Resource-related outcomes, and demonstrate the viability of such an approach via a pilot experiment.10aFinance10aManagement1 aKalodimos, Jonathan1 aLeavitt, Keith u/biblio/experimental-shareholder-activism-novel-approach-organizational-research01154nas a2200145 4500008004100000245008100041210006900122260000900191520062300200653001200823100001900835700001700854700002400871856011300895 2020 eng d00aGovernance Changes through Shareholder Initiatives: The Case of Proxy Access0 aGovernance Changes through Shareholder Initiatives The Case of P c20203 aWe study a regulatory change that led to over 300 shareholder proposals to instate proxy access and more than 250 firms adopting proxy access from 2012 to 2016. The firms expected to benefit most from proxy access have the most positive market reaction to receiving a proposal, but adoptions are not concentrated at these firms. We find that proposing and voting shareholders do not discriminate between firms that would or would not benefit, and that management resists proxy access at the firms that stand to benefit most. This process results in the concentration of adoptions at large, already well-governed firms.10aFinance1 aBhandari, Tara1 aIliev, Peter1 aKalodimos, Jonathan u/biblio/governance-changes-through-shareholder-initiatives-case-proxy-access00567nas a2200145 4500008004100000245010300041210006900144260000900213300001200222490000700234653001200241100002000253700001600273856013200289 2020 eng d00aHousing Price Dynamics, Mortgage Credit and Reverse Mortgage Demand: Theory and Empirical Evidence0 aHousing Price Dynamics Mortgage Credit and Reverse Mortgage Dema c2020 a599-6320 v4810aFinance1 aChen, Kuo-Shing1 aYang, Jimmy u/biblio/housing-price-dynamics-mortgage-credit-and-reverse-mortgage-demand-theory-and-empirical00673nas a2200181 4500008004100000245009400041210006900135260002300204653000800227653002300235653001200258653003200270100001600302700001500318700001700333700001500350856012600365 2020 eng d00aImpact of Team Size on Technological Contributions: Unpacking Disruption and Development0 aImpact of Team Size on Technological Contributions Unpacking Dis aVancouver CAc202010aBIS10aBusiness Analytics10aFinance10aStrategy & Entrepreneurship1 aChen, Jiyao1 aShao, Rong1 aFan, Shaokun1 aLi, Jiexun u/biblio/impact-team-size-technological-contributions-unpacking-disruption-and-development00579nas a2200157 4500008004100000245009500041210006900136260000900205300001200214490000700226653001200233100002000245700001900265700001600284856012100300 2020 eng d00aImproving the realized GARCH's volatility forecast for Bitcoin with jump-robust estimators0 aImproving the realized GARCHs volatility forecast for Bitcoin wi c2020 a101-1650 v5210aFinance1 aHung, Jui-Cheng1 aLiu, Hung-Chun1 aYang, Jimmy u/biblio/improving-realized-garchs-volatility-forecast-bitcoin-jump-robust-estimators00541nas a2200145 4500008004100000245008600041210006900127260000900196653001200205100001800217700001600235700001500251700001500266856011400281 2020 eng d00aA new metric of market underreaction to earnings announcements: An empirical test0 anew metric of market underreaction to earnings announcements An c202010aFinance1 aChung, Kee, H1 aKim, Oliver1 aLim, Steve1 aYang, Sean u/biblio/new-metric-market-underreaction-earnings-announcements-empirical-test00407nas a2200109 4500008004100000245006000041210005800101260000900159653001200168100001900180856009800199 2020 eng d00a"Passive Debt Ownership and Corporate Financial Policy"0 aPassive Debt Ownership and Corporate Financial Policy c202010aFinance1 aGibbons, Brian u/biblio/passive-debt-ownership-and-corporate-financial-policy00409nas a2200109 4500008004100000245006000041210005800101260000900159653001200168100001900180856010000199 2020 eng d00a"Passive Debt Ownership and Corporate Financial Policy"0 aPassive Debt Ownership and Corporate Financial Policy c202010aFinance1 aGibbons, Brian u/biblio/passive-debt-ownership-and-corporate-financial-policy-001223nas a2200169 4500008004100000245009400041210006900135260000900204300001200213490000700225520064400232653001200876100001800888700001900906700001600925856011200941 2020 eng d00aA rare move: the effects of switching from a closing call auction to a continuous trading0 arare move the effects of switching from a closing call auction t c2020 a308-3280 v403 aThis study investigates the effects of switching to a closing continuous trading (CCT) on market quality, while considering the trading behaviors of different types of traders. Investors become more patient in the period preceding the last trading phase, which reduces the bid–ask spread (BAS) in that period. We find an increase in the BAS and volatility during the last trading phase, due to diminishing investor patience. Market volatility and the closing pricing errors relate positively to the trading activities of foreign institutional investors. Overall, the introduction of the CCT worsens the market quality before the closing.10aFinance1 aChang, Ya-Kai1 aChou, Robin, K1 aYang, Jimmy u/biblio/rare-move-effects-switching-closing-call-auction-continuous-trading00557nas a2200169 4500008004100000245007300041210006900114260000900183300001200192490000700204653001200211100001500223700001500238700001500253700001500268856010400283 2019 eng d00aAn analytical measure of market underreactions to earnings surprises0 aanalytical measure of market underreactions to earnings surprise c2019 a612-6240 v6410aFinance1 aChung, Kee1 aKim, Olive1 aLim, Steve1 aYang, Sean u/biblio/analytical-measure-market-underreactions-earnings-surprises01925nas a2200133 4500008004100000245005400041210005200095260000900147520152000156653001201676653001701688100001801705856006801723 2019 eng d00aCorporate Governance: What We Know And Don't Know0 aCorporate Governance What We Know And Dont Know c20193 aThe corporate governance literature provides a rich framework for examining the theoretical models and related mechanisms by which a firm is operated and controlled, but there are a number of challenges for future research that remain. This paper identifies some of the key studies and contributions of the existing corporate governance literature, while identifying several fruitful areas for research where our understanding of corporate governance is incomplete. For example, what is the relationship between corporate governance and corporate social responsibility, and how might this change in different institutional environments? Expanding standard models to include more nuanced factors within diverse and dynamic institutional environments is one challenge we face in modeling governance more comprehensively. In addition, as data becomes more easily available on smaller countries, transitional economies, and in frontier and emerging markets, we also need to expand our studies beyond the large Western country context. Future empirical work should undertake to better understand and examine the institutional structures, systems, mechanisms and incentives within understudied regions around the world. Beyond the notion of replication studies, careful cross-country studies would enable us to compare outcomes with existing studies and better inform us on fundamental differences (and similarities) between systems, contributing to our discussions on the limits of conversion between governance systems.10aFinance10aOSU-Cascades1 aElston, Julie uhttps://www.springer.com/economics/microeconomics/journal/4081200507nas a2200121 4500008004100000245009200041210006900133260000900202653001200211653001700223100001800240856012700258 2019 eng d00aDr. Audretsch: or How I Learned to Stop Worrying and Love Doing Small Business Research0 aDr Audretsch or How I Learned to Stop Worrying and Love Doing Sm c201910aFinance10aOSU-Cascades1 aElston, Julie u/biblio/dr-audretsch-or-how-i-learned-stop-worrying-and-love-doing-small-business-research01314nas a2200157 4500008004100000245006400041210006400105260000900169520079400178653001500972653001200987653001700999100001801016700002101034856010101055 2019 eng d00aInternationalization and Regional Entrepreneurship in China0 aInternationalization and Regional Entrepreneurship in China c20193 aThis study examines the importance of geographic location on the empirical link between internationalization and entrepreneurial intention. Integrating data from multiple sources to create a measure of internationalization intensity, this study directly contributes to the literature by revealing a significant and more complex relationship between internationalization and entrepreneurship than previously suggested in the literature. Specifically, while highly internationalized locations allow better access to resource markets they may also hinder entrepreneurship for several reasons, including the fact that these locations have higher competition for resources. Results provide direct empirical support to recent theories on the importance of within country comparative differences.10aAccounting10aFinance10aOSU-Cascades1 aElston, Julie1 aWeidinger, Alois u/biblio/internationalization-and-regional-entrepreneurship-china01316nas a2200169 4500008004100000245011500041210006900156260000900225300001000234490000700244520074700251653001200998100001701010700002401027700002301051856007201074 2018 eng d00aBoard members' influence on resource investments to start-ups and IPO outcomes: Does prior affiliation matter?0 aBoard members influence on resource investments to startups and c2018 a30-420 v493 aUsing data that contains career paths of start-up board members, we examine how their prior affiliations with various types of venture capital (VC) firms promote financial and human resource investments from the affiliated VC firm. We find that the likelihood of affiliation-based resource investments such as financing and board member engagement depends on the type of VC firms (e.g., bank-affiliated, corporate). Meanwhile, we find little evidence that affiliation-based resource investments lead to lower IPO costs and better post-IPO performances (i.e., return on assets, buy-and-hold abnormal returns, and failure rate). While prior affiliation could improve the inflow of resources, it might worsen screening and monitoring activities.10aFinance1 aMathew, Prem1 aTakahashi, Hidenori1 aYamakawa, Yasuhiro uhttps://www.sciencedirect.com/science/article/pii/S0927538X1730446800377nas a2200121 4500008004100000245003700041210003700078260002100115653001500136653001200151100001800163856007400181 2018 eng d00aCareers in Accounting Profession0 aCareers in Accounting Profession aAlbany, ORc201810aEngagement10aFinance1 aLongo, Robert u/biblio/careers-accounting-profession01032nas a2200157 4500008004100000245007900041210006900120260000900189300001200198490000700210520053700217653001200754100002000766700001600786856007200802 2018 eng d00aChinese Lunar New Year Effect, Investor Sentiment, and Market Deregulation0 aChinese Lunar New Year Effect Investor Sentiment and Market Dere c2018 a175-1840 v273 aThis paper provides empirical evidence and a behavioral explanation for the Chinese Lunar New Year (CLNY) effect and investigates whether the holiday effect weakens after market deregulation. Using emotion proxies from literature, we find that positive emotion plays an important role in contributing to higher returns surrounding the CLNY. We also show that the CLNY effect weakens when foreign investors’ participation increases, suggesting that the market deregulation may have contributed to this diminishing calendar anomaly.10aFinance1 aTeng, Chia-Chen1 aYang, Jimmy uhttps://www.sciencedirect.com/science/article/pii/S154461231730564000651nas a2200169 4500008004100000245009800041210006900139260002200208653000800230653002300238653001200261653003200273100001600305700001500321700001700336856012800353 2018 eng d00aDevelopment of Context-based Indices for Measuring Dynamic and Dualistic Nature of Innovation0 aDevelopment of Contextbased Indices for Measuring Dynamic and Du aChicago, ILc201810aBIS10aBusiness Analytics10aFinance10aStrategy & Entrepreneurship1 aChen, Jiyao1 aShao, Rong1 aFan, Shaokun u/biblio/development-context-based-indices-measuring-dynamic-and-dualistic-nature-innovation00519nas a2200121 4500008004100000245009500041210006900136260002100205653001200226653001700238100001800255856012400273 2018 eng d00aEvidence on the Dynamic Nature of Executive Compensation and Corporate Governance in China0 aEvidence on the Dynamic Nature of Executive Compensation and Cor aCopenhagenc201810aFinance10aOSU-Cascades1 aElston, Julie u/biblio/evidence-dynamic-nature-executive-compensation-and-corporate-governance-china-000626nas a2200157 4500008004100000245010700041210006900148260002100217653001500238653001200253653001700265100001800282700002100300700002000321856012700341 2018 eng d00aAn Examination of the Relationship Between Size and Growth of Listed Firms in the United Arab Emirates0 aExamination of the Relationship Between Size and Growth of Liste aOxford, UKc201810aAccounting10aFinance10aOSU-Cascades1 aElston, Julie1 aWeidinger, Alois1 aWidmer, Melanie u/biblio/examination-relationship-between-size-and-growth-listed-firms-united-arab-emirates02222nas a2200877 4500008004100000245010300041210006900144260000900213653001200222100001800234700001500252700001400267700001500281700001200296700001400308700001500322700001100337700001500348700001500363700001600378700001400394700001900408700001200427700001300439700001200452700001100464700001300475700001700488700001200505700002000517700001300537700002100550700001400571700001600585700001300601700001200614700001500626700001100641700001900652700002400671700001900695700001500714700001100729700001500740700001600755700001300771700001400784700001600798700001300814700001400827700001500841700001200856700001200868700001700880700001200897700001500909700001700924700001600941700001700957700001900974700001500993700001401008700001301022700001301035700001701048700001601065700001801081700001501099700001501114700001601129700001901145700001701164700001201181700001301193856013801206 2018 eng d00aMany analysts, one dataset: Making transparent how variations in analytical choices affect results0 aMany analysts one dataset Making transparent how variations in a c201810aFinance1 aSilberzahn, R1 aUhlmann, E1 aMartin, D1 aAnselmi, P1 aAust, F1 aAwtrey, E1 aBahník, S1 aBai, F1 aBannard, C1 aBonnier, E1 aCarlsson, R1 aCheung, F1 aChristensen, G1 aClay, R1 aCraig, M1 aRosa, A1 aDam, L1 aEvans, M1 aCervantes, I1 aFong, N1 aGamez-Djokic, M1 aGlenz, A1 aGordon-McKeon, S1 aHeaton, T1 aEriksson, K1 aHeene, M1 aMohr, A1 aHögden, F1 aHui, K1 aJohannesson, M1 aKalodimos, Jonathan1 aKaszubowski, E1 aKennedy, D1 aLei, R1 aLindsay, T1 aLiverani, S1 aMadan, C1 aMolden, D1 aMolleman, E1 aMorey, R1 aMulder, L1 aNijstad, B1 aPope, B1 aPope, N1 aPrenoveau, J1 aRink, F1 aRobusto, E1 aRoderique, H1 aSandberg, A1 aSchlueter, E1 aSchönbrodt, F1 aSherman, M1 aSommer, S1 aSotak, K1 aSpain, S1 aSpörlein, C1 aStafford, T1 aStefanutti, L1 aTäuber, S1 aUllrich, J1 aVianello, M1 aWagenmakers, E1 aWitkowiak, M1 aYoon, S1 aNosek, B u/biblio/many-analysts-one-dataset-making-transparent-how-variations-analytical-choices-affect-results01022nas a2200157 4500008004100000245007700041210006900118260000900187300001000196490000700206520050100213653001200714100001800726700001600744856010400760 2018 eng d00aThe MAX Effect: Lottery Stocks with Price Limits and Limits to Arbitrage0 aMAX Effect Lottery Stocks with Price Limits and Limits to Arbitr c2018 a77-910 v413 aWe modify the Bali et al.’s (2011) MAX measure (maximum daily return over the prior month) when the observed returns are capped at the daily price limit to address the issue of homogeneous MAX across stocks. Our results indicate that the modified MAX measure can be a significant predictor of future stock returns. The modified MAX effect is not a manifestation of the idiosyncratic volatility effect. We also find that the modified MAX measure could be an alternative proxy for arbitrage risk.10aFinance1 aHung, Weifeng1 aYang, Jimmy u/biblio/max-effect-lottery-stocks-price-limits-and-limits-arbitrage00529nas a2200145 4500008004100000245008000041210006900121260000900190653001200199100001300211700001800224700001100242700001400253856011600267 2018 eng d00aProduct Market Characteristics and the Choice between IPOs and Acquisitions0 aProduct Market Characteristics and the Choice between IPOs and A c201810aFinance1 aHe, Shan1 aChemmanur, T.1 aHe, J.1 aNandy, D. u/biblio/product-market-characteristics-and-choice-between-ipos-and-acquisitions00591nas a2200145 4500008004100000245010300041210006900144260000900213653001200222100002100234700001900255700001600274700001900290856013600309 2018 eng d00a"Through Thick and Thin: Political Risk and the Interdependencies between MNCs and Host Countries"0 aThrough Thick and Thin Political Risk and the Interdependencies c201810aFinance1 aBlouin, Jennifer1 aGibbons, Brian1 aWang, Clare1 aWellman, Laura u/biblio/through-thick-and-thin-political-risk-and-interdependencies-between-mncs-and-host-countries00593nas a2200145 4500008004100000245010300041210006900144260000900213653001200222100002100234700001900255700001600274700001900290856013800309 2018 eng d00a"Through Thick and Thin: Political Risk and the Interdependencies between MNCs and Host Countries"0 aThrough Thick and Thin Political Risk and the Interdependencies c201810aFinance1 aBlouin, Jennifer1 aGibbons, Brian1 aWang, Clare1 aWellman, Laura u/biblio/through-thick-and-thin-political-risk-and-interdependencies-between-mncs-and-host-countries-000593nas a2200145 4500008004100000245010300041210006900144260000900213653001200222100001600234700001900250700002100269700001900290856013800309 2018 eng d00a"Through Thick and Thin: Political Risk and the Interdependencies between MNCs and Host Countries"0 aThrough Thick and Thin Political Risk and the Interdependencies c201810aFinance1 aWang, Clare1 aGibbons, Brian1 aBlouin, Jennifer1 aWellman, Laura u/biblio/through-thick-and-thin-political-risk-and-interdependencies-between-mncs-and-host-countries-100353nas a2200109 4500008004100000245003800041210003800079260000900117653001200126100002400138856008100162 2017 eng d00aDisruption in Health Care Markets0 aDisruption in Health Care Markets c201710aFinance1 aKalodimos, Jonathan uhttps://businessradio.wharton.upenn.edu/programs/the-business-of-health-care01199nas a2200145 4500008004100000245008800041210006900129260000900198300001200207490000700219520072000226653001200946100002400958856007100982 2017 eng d00aInternal Governance and Performance: Evidence From When External Discipline is Weak0 aInternal Governance and Performance Evidence From When External c2017 a193-2160 v433 aThe effect of internal governance on performance is potentially economically significant but may be difficult to identify because of confounding external disciplinary mechanisms and the endogenous choice of internal governance. This study addresses those difficulties by using nonprofit hospitals as an economic environment with muted external disciplinary mechanisms and instrumenting for internal governance using governance spillovers of geographically local public firms. Using patient heart attack survival as a measure of performance, a one standard deviation increase in strength of internal governance reduces the probability of death by 0.89 percentage points after controlling for patient characteristics.10aFinance1 aKalodimos, Jonathan uhttp://www.sciencedirect.com/science/article/pii/S092911991730019600529nas a2200133 4500008004100000245008000041210006900121260000900190653001200199100002400211700001900235700001700254856012400271 2017 eng d00aProgress in Understanding Proxy Access and the Shareholder Proposal Process0 aProgress in Understanding Proxy Access and the Shareholder Propo c201710aFinance1 aKalodimos, Jonathan1 aBhandari, Tara1 aIliev, Peter uhttps://corpgov.law.harvard.edu/2017/01/03/progress-in-understanding-proxy-access-and-the-shareholder-proposal-process/00964nas a2200133 4500008004100000245008700041210006900128260000900197520044600206653001200652100002400664700002000688856012200708 2017 eng d00aShareholder Rights in Mergers and Acquisitions: Are Appraisal Rights Being Abused?0 aShareholder Rights in Mergers and Acquisitions Are Appraisal Rig c20173 aAppraisal rights grant dissenting shareholders in an acquisition the right to petition the court to determine the value of their shares. These rights can protect shareholders from acquisitions below fundamental value or can be abused by opportunistic investors. We examine the use of appraisal rights and find the evidence is most consistent with appraisal rights functioning as recourse when the target firm is sold below fundamental value.10aFinance1 aKalodimos, Jonathan1 aLundberg, Clark u/biblio/shareholder-rights-mergers-and-acquisitions-are-appraisal-rights-being-abused00593nas a2200145 4500008004100000245010300041210006900144260000900213653001200222100002100234700001900255700001600274700001900290856013800309 2017 eng d00a"Through Thick and Thin: Political Risk and the Interdependencies between MNCs and Host Countries"0 aThrough Thick and Thin Political Risk and the Interdependencies c201710aFinance1 aBlouin, Jennifer1 aGibbons, Brian1 aWang, Clare1 aWellman, Laura u/biblio/through-thick-and-thin-political-risk-and-interdependencies-between-mncs-and-host-countries-201818nas a2200145 4500008004100000245006600041210006400107260000900171520132700180653001201507653001701519100001801536700001501554856010301569 2016 eng d00aBusiness Cultural Intelligence Quotient: A Five-Country Study0 aBusiness Cultural Intelligence Quotient A FiveCountry Study c20163 aCultural intelligence (CI) has often been linked to performance at the individual, team and firm levels as a key factor in international business success. Using a new measure of CI, the business cultural intelligence quotient (BCIQ), our study provides empirical evidence on several key antecedents of CI using data onbusiness professionals across five diverse countries (Austria, Colombia, Greece, Spain and USA). The findings suggest that the most important factors leading to cultural intelligence, in order of importance, are: the number of countries that business practitioners have lived in for more than six months, their level of education and the number of languages spoken. We find that cultural intelligence varies across countries, suggesting that some countries have a higher propensity for cross-cultural business interactions. By teasing out the common antecedents of BCIQ among professionals, our findings may help with screening and training professionals for international assignments. Future research may examine the environmental (country-specific) factors associated with a higher propensity for cultural intelligence (such as immigration, cultural diversity, languages spoken, and international trade) to explain the effect of country of origin on cultural intelligence in the professional community.10aFinance10aOSU-Cascades1 aElston, Julie1 aAlon, Ilan u/biblio/business-cultural-intelligence-quotient-five-country-study00521nas a2200157 4500008004100000245006800041210006800109260000900177300001200186490000700198653001200205100001200217700001800229700001500247856010100262 2016 eng d00aCorporate Governance and the Informational Efficiency of Prices0 aCorporate Governance and the Informational Efficiency of Prices c2016 a239-2600 v4510aFinance1 aLee, C.1 aChung, K., H.1 aYang, Sean u/biblio/corporate-governance-and-informational-efficiency-prices00432nas a2200133 4500008004100000245005000041210004600091260001700137653001200154100001600166700001200182700001900194856008500213 2016 eng d00aThe cost of corporate social irresponsibility0 acost of corporate social irresponsibility aTaiwanc201610aFinance1 aYang, Jimmy1 aLin, KC1 aJohnson, Shane u/biblio/cost-corporate-social-irresponsibility-100432nas a2200133 4500008004100000245005000041210004600091260001700137653001200154100001600166700001200182700001900194856008500213 2016 eng d00aThe cost of corporate social irresponsibility0 acost of corporate social irresponsibility aTaiwanc201610aFinance1 aYang, Jimmy1 aLin, KC1 aJohnson, Shane u/biblio/cost-corporate-social-irresponsibility-200430nas a2200133 4500008004100000245005000041210004600091260001700137653001200154100001600166700001200182700001900194856008300213 2016 eng d00aThe cost of corporate social irresponsibility0 acost of corporate social irresponsibility aTaiwanc201610aFinance1 aYang, Jimmy1 aLin, KC1 aJohnson, Shane u/biblio/cost-corporate-social-irresponsibility00432nas a2200133 4500008004100000245005000041210004600091260001700137653001200154100001600166700001200182700001900194856008500213 2016 eng d00aThe cost of corporate social irresponsibility0 acost of corporate social irresponsibility aTaiwanc201610aFinance1 aYang, Jimmy1 aLin, KC1 aJohnson, Shane u/biblio/cost-corporate-social-irresponsibility-001142nas a2200145 4500008004100000245008000041210006900121260000900190300001200199490000700211520063400218653001200852100002400864856010800888 2016 eng d00aThe Effects of Executive, Firm, and Board Characteristics on Executive Exit0 aEffects of Executive Firm and Board Characteristics on Executive c2016 a527-5570 v513 aWe estimate a hazard model of the probability of top corporate executives exiting their firms over the period 1996–2010. Our main findings are that: (1) female executives have greater likelihoods of exit than males, (2) the likelihood of exit increases with the independence of the board and decreases with the fraction of the board that is female and the average age of board members, and (3) a higher percentage of independent directors on the board lowers the probability of exit more for females than for males. Further, controlling for exit risk reduces the well-documented compensation differential between men and women.10aFinance1 aBecker-Blease, John u/biblio/effects-executive-firm-and-board-characteristics-executive-exit00523nas a2200133 4500008004100000245009500041210006900136260000900205490000600214653001200220653001700232100001800249856012200267 2016 eng d00aEvidence on the Dynamic Nature of Executive Compensation and Corporate Governance in China0 aEvidence on the Dynamic Nature of Executive Compensation and Cor c20160 v710aFinance10aOSU-Cascades1 aElston, Julie u/biblio/evidence-dynamic-nature-executive-compensation-and-corporate-governance-china00390nas a2200121 4500008004100000245004200041210004000083260000900123653001200132100001700144700002700161856008000188 2016 eng d00aFragility, stress, and market returns0 aFragility stress and market returns c201610aFinance1 aBerger, Dave1 aPukthuanthong, Kuntara u/biblio/fragility-stress-and-market-returns00317nas a2200109 4500008004100000245002700041210002400068260000900092653001200101100002400113856007000137 2016 eng d00aA Gadfly's Perspective0 aGadflys Perspective c201610aFinance1 aKalodimos, Jonathan uhttps://corpgov.law.harvard.edu/2016/09/21/a-gadflys-perspective/00506nas a2200133 4500008004100000245008700041210006900128260000900197490000700206653001200213100001300225700001600238856011800254 2016 eng d00aHuman Capital, Management Quality, and the Exit Decisions of Entrepreneurial Firms0 aHuman Capital Management Quality and the Exit Decisions of Entre c20160 v5110aFinance1 aHe, Shan1 aLei, C., W. u/biblio/human-capital-management-quality-and-exit-decisions-entrepreneurial-firms00495nas a2200133 4500008004100000245007500041210006900116260000900185490000700194653001200201100001300213700002200226856011300248 2016 eng d00aInstitutional Trading, Information Production, and Corporate Spin-offs0 aInstitutional Trading Information Production and Corporate Spino c20160 v3810aFinance1 aHe, Shan1 aChemmanur, T., J. u/biblio/institutional-trading-information-production-and-corporate-spin-offs00576nas a2200133 4500008004100000245011800041210006900159260001600228653001200244653001700256100001800273700002100291856013000312 2016 eng d00aInternationalization and Regional Entrepreneurship: Empirical Evidence on the Formation of New Ventures in China0 aInternationalization and Regional Entrepreneurship Empirical Evi aDubaic201610aFinance10aOSU-Cascades1 aElston, Julie1 aWeidinger, Alois u/biblio/internationalization-and-regional-entrepreneurship-empirical-evidence-formation-new-100543nas a2200121 4500008004100000245011800041210006900159260001600228653001200244653001700256100001800273856013000291 2016 eng d00aInternationalization and Regional Entrepreneurship: Empirical Evidence on the Formation of New Ventures in China0 aInternationalization and Regional Entrepreneurship Empirical Evi aChinac201610aFinance10aOSU-Cascades1 aElston, Julie u/biblio/internationalization-and-regional-entrepreneurship-empirical-evidence-formation-new-000496nas a2200121 4500008004100000245007600041210006900117260002600186653001200212653001700224100001800241856011500259 2016 eng d00aInternationalization, Geographic Location and Entrepreneurial Intention0 aInternationalization Geographic Location and Entrepreneurial Int aNew Orleans, LAc201610aFinance10aOSU-Cascades1 aElston, Julie u/biblio/internationalization-geographic-location-and-entrepreneurial-intention00444nas a2200109 4500008004100000245007100041210006900112260000900181653001200190100002400202856010800226 2016 eng d00aProposals Meant to Spark Nuanced Conversation about Stock Buybacks0 aProposals Meant to Spark Nuanced Conversation about Stock Buybac c201610aFinance1 aKalodimos, Jonathan u/biblio/proposals-meant-spark-nuanced-conversation-about-stock-buybacks00466nas a2200109 4500008004100000245007600041210006900117260002700186653001200213100002400225856010700249 2016 eng d00aPublic versus Private Provision of Governance: The Case of Proxy Access0 aPublic versus Private Provision of Governance The Case of Proxy aToronto, Ontarioc201610aFinance1 aKalodimos, Jonathan u/biblio/public-versus-private-provision-governance-case-proxy-access-001508nas a2200205 4500008004100000245007800041210006900119260000900188300001000197490000700207520085100214653001501065653001201080653001701092653003301109100001801142700001601160700002101176856010501197 2016 eng d00aThe role of informal capital on new venture formation and growth in China0 arole of informal capital on new venture formation and growth in c2016 a79-910 v463 aThis study examines the nature and role of informal capital used by micro-firms in the dynamic emerging market of China. Using a unique source of data for 260 urban entrepreneurs, this study provides empirical evidence that entrepreneurs’ personal savings and family funding are important sources of start-up capital. However, household income is the most important funding source in driving firm growth over time. This research directly addresses the lacuna of studies on entrepreneurship in emerging economies and contributes to our understanding of the critical role informal capital plays in the Chinese entrepreneurial process. Overall findings suggest that informal capital is still predominantly used over formal capital sources for financing firm start-up, underscoring the slow transition in China from an emerging to a modern economy.10aAccounting10aFinance10aOSU-Cascades10aOSU-Cascades Hospitality Mgt1 aElston, Julie1 aChen, Sandy1 aWeidinger, Alois u/biblio/role-informal-capital-new-venture-formation-and-growth-china00492nas a2200133 4500008004100000245006400041210006100105260002000166653001200186100001700198700001800215700002700233856009800260 2016 eng d00aOn valuing human capital and relating it to macro variables0 avaluing human capital and relating it to macro variables aLas Vegasc201610aFinance1 aBerger, Dave1 aRoll, Richard1 aPukthuanthong, Kuntara u/biblio/valuing-human-capital-and-relating-it-macro-variables00447nas a2200109 4500008004100000245007300041210006900114260001800183653001200201100001300213856011100226 2015 eng d00aAnti-Takeover Provisions, Corporate Governance, and Firm Performance0 aAntiTakeover Provisions Corporate Governance and Firm Performanc aOrlandoc201510aFinance1 aHe, Shan u/biblio/anti-takeover-provisions-corporate-governance-and-firm-performance00365nas a2200109 4500008004100000245004200041210004000083260002400123653001200147100001500159856008100174 2015 eng d00aClosed-end fund IPOs, Sold not Bought0 aClosedend fund IPOs Sold not Bought aLas Vegas, NVc201510aFinance1 aShao, Rong u/biblio/closed-end-fund-ipos-sold-not-bought00401nas a2200121 4500008004100000245005000041210004600091260001700137653001200154100001600166700001200182856008500194 2015 eng d00aThe cost of corporate social irresponsibility0 acost of corporate social irresponsibility aTaiwanc201510aFinance1 aYang, Jimmy1 aLin, KC u/biblio/cost-corporate-social-irresponsibility-300401nas a2200121 4500008004100000245005000041210004600091260001700137653001200154100001600166700001200182856008500194 2015 eng d00aThe cost of corporate social irresponsibility0 acost of corporate social irresponsibility aTaiwanc201510aFinance1 aYang, Jimmy1 aLin, KC u/biblio/cost-corporate-social-irresponsibility-400389nas a2200121 4500008004100000245003800041210003800079260002500117653001200142653001700154100001800171856007800189 2015 eng d00aCultural Intelligence Antecedents0 aCultural Intelligence Antecedents aWarsaw, Polandc201510aFinance10aOSU-Cascades1 aElston, Julie u/biblio/cultural-intelligence-antecedents00458nas a2200109 4500008004100000245007100041210006900112260002600181653001200207100002400219856010500243 2015 eng d00aDoes Corporate Social Responsibility Attract the "Right" Investors0 aDoes Corporate Social Responsibility Attract the Right Investors aOxford, Englandc201510aFinance1 aBecker-Blease, John u/biblio/does-corporate-social-responsibility-attract-right-investors00455nas a2200145 4500008004100000245005200041210005100093260000900144300001200153490000700165653001200172100001700184700002000201856008800221 2015 eng d00aDoes Director Affiliation Lead to Analyst Bias?0 aDoes Director Affiliation Lead to Analyst Bias c2015 a272-2870 v4710aFinance1 aMathew, Prem1 aYildirim, Semih u/biblio/does-director-affiliation-lead-analyst-bias00478nas a2200121 4500008004100000245008200041210006900123260000900192653001200201100001900213700001600232856010800248 2015 eng d00aThe Effect of Ownership Structure on the Price Earnings Ratio-Returns Anomaly0 aEffect of Ownership Structure on the Price Earnings RatioReturns c201510aFinance1 aHoumes, Robert1 aChira, Inga u/biblio/effect-ownership-structure-price-earnings-ratio-returns-anomaly00404nas a2200109 4500008004100000245005600041210005600097260001700153653001200170100001600182856009600198 2015 eng d00aEmpirical Financial Studies and Policy Implications0 aEmpirical Financial Studies and Policy Implications aTaipeic201510aFinance1 aYang, Jimmy u/biblio/empirical-financial-studies-and-policy-implications00434nas a2200121 4500008004100000245005300041210005100094260003200145653001200177653001700189100001800206856008800224 2015 eng d00aA Hierarchy of Cultural Intelligence Antecedents0 aHierarchy of Cultural Intelligence Antecedents aVancouver, BC, Canadac201510aFinance10aOSU-Cascades1 aElston, Julie u/biblio/hierarchy-cultural-intelligence-antecedents00420nas a2200121 4500008004100000245005300041210005100094260001600145653001200161653001700173100001800190856009000208 2015 eng d00aA Hierarchy of Cultural Intelligence Antecedents0 aHierarchy of Cultural Intelligence Antecedents aIndiac201510aFinance10aOSU-Cascades1 aElston, Julie u/biblio/hierarchy-cultural-intelligence-antecedents-000502nas a2200109 4500008004100000245008800041210006900129260003700198653001200235100002400247856012100271 2015 eng d00aInternal Governance and Performance: Evidence From When External Discipline is Weak0 aInternal Governance and Performance Evidence From When External aSan Diego State Universityc201510aFinance1 aKalodimos, Jonathan u/biblio/internal-governance-and-performance-evidence-when-external-discipline-weak-000383nas a2200121 4500008004100000245003600041210003600077260002500113653001200138653001700150100001800167856007600185 2015 eng d00aMeasuring Cultural Intelligence0 aMeasuring Cultural Intelligence aAbu Dhabi, UAEc201510aFinance10aOSU-Cascades1 aElston, Julie u/biblio/measuring-cultural-intelligence00409nas a2200121 4500008004100000245004900041210004700090260002300137653001200160100001600172700001600188856008300204 2015 eng d00aA model of price limits on individual stocks0 amodel of price limits on individual stocks aBuenos Airesc201510aFinance1 aYang, Jimmy1 aLuo, Yuchen u/biblio/model-price-limits-individual-stocks-000401nas a2200121 4500008004100000245004900041210004700090260001700137653001200154100001600166700001600182856008100198 2015 eng d00aA model of price limits on individual stocks0 amodel of price limits on individual stocks aTaiwanc201510aFinance1 aYang, Jimmy1 aLuo, Yuchen u/biblio/model-price-limits-individual-stocks01178nas a2200157 4500008004100000245006300041210006200104260000900166300001300175490000700188520067700195653001200872100002400884700001800908856009400926 2015 eng d00aNew venture legitimacy: the conditions for angel investors0 aNew venture legitimacy the conditions for angel investors c2015 a735-749.0 v453 aFavorable legitimacy judgments by potential resource providers are critical for the survival and growth of new ventures. We examine which aspects of a venture’s activities, structures, and outcomes, as conveyed by its narrative, are associated with legitimacy judgments by potential angel investors in a sample of 176 new venture proposals. We find that entrepreneurial ventures with quality top management teams, advisors, and developed products are viewed more favorably by angel investors and likely have better access to these investors. This research provides new insights into the establishment of legitimacy within the economically important angel capital market.10aFinance1 aBecker-Blease, John1 aSohl, Jeffrey u/biblio/new-venture-legitimacy-conditions-angel-investors00523nas a2200133 4500008004100000245007600041210006900117260000900186653001200195100002400207700001700231700001900248856012200267 2015 eng d00aPublic versus Private Provision of Governance: The Case of Proxy Access0 aPublic versus Private Provision of Governance The Case of Proxy c201510aFinance1 aKalodimos, Jonathan1 aIliev, Peter1 aBhandari, Tara uhttp://clsbluesky.law.columbia.edu/2015/10/01/public-versus-private-provision-of-governance-the-case-of-proxy-access/00494nas a2200145 4500008004100000245006600041210006400107260000900171300001200180490000700192653001200199100001800211700001500229856010400244 2015 eng d00aReverse Stock Splits, Institutional Holdings, and Share Value0 aReverse Stock Splits Institutional Holdings and Share Value c2015 a177-2160 v4410aFinance1 aChung, K., H.1 aYang, Sean u/biblio/reverse-stock-splits-institutional-holdings-and-share-value00410nas a2200121 4500008004100000245005200041210004800093260002100141653001200162653001700174100001800191856007900209 2015 eng d00aThe Role of Informal Capital in Growth in China0 aRole of Informal Capital in Growth in China aDubai, UAEc201510aFinance10aOSU-Cascades1 aElston, Julie u/biblio/role-informal-capital-growth-china01135nas a2200169 4500008004100000245002200041210002200063260000900085300001000094490000700104520072700111653001200838100001700850700001800867710001800885856006200903 2015 eng d00aSentiment Bubbles0 aSentiment Bubbles c2015 a59-740 v233 aWe examine cumulative changes in investor sentiment and find that these changes relate to extended periods of increasing overvaluation, followed by price corrections. The relation between sentiment and returns is path dependent—short-term increases in sentiment precede strong positive returns, while prolonged periods of increasing sentiment precede negative returns. Positive short-run returns are consistent with bubble dynamics and mitigate the backwards induction conundrum described by Abreu and Brunnermeier (2003). Our results hold for the market portfolio, and are especially strong for opaque portfolios with high levels of uncertainty, as well as portfolios with greater market frictions that limit arbitrage.10aFinance1 aBerger, Dave1 aTurtle, Harry1 aEmptyAuthNode u/biblio/sentiment-bubbles01364nas a2200145 4500008004100000245006700041210006700108260000900175300000900184490000700193520088700200653001201087100001601099856010301115 2014 eng d00aBad News and Bank Performance during the 2008 Financial Crisis0 aBad News and Bank Performance during the 2008 Financial Crisis c2014 a1-120 v243 aThe paper investigates market reaction to negative reports published by analysts and auditors for a sample of investment, commercial, and savings banks during the 2008 financial crisis and compares the results to non-crisis periods. The results show that during 2008, analysts' downgrades and underperformance reports resulted in stronger negative returns than during non-crisis periods and that investment banks experienced the worst stock price declines. The market reaction to auditors’ issues and going concern flags is different during the crisis as well. In non-crisis periods no reaction to auditors’ bad news is reported, while during the crisis there is a negative and significant reaction for investment banks only. Overall, the type of bank, investment versus commercial, significantly contributes to explaining the variability in returns during the financial crisis.10aFinance1 aChira, Inga u/biblio/bad-news-and-bank-performance-during-2008-financial-crisis00520nas a2200145 4500008004100000245007000041210006800111260000900179653001200188100002400200700001600224700001700240700001500257856010200272 2014 eng d00aDaily Data is Bad for Beta: Opacity and Frequency-Dependent Betas0 aDaily Data is Bad for Beta Opacity and FrequencyDependent Betas c201410aFinance1 aKalodimos, Jonathan1 aGilbert, T.1 aHrdlicka, C.1 aSiegel, S. u/biblio/daily-data-bad-beta-opacity-and-frequency-dependent-betas00455nas a2200133 4500008004100000245005100041210005000092260002400142653001200166100002400178700001600202700001600218856008700234 2014 eng d00aDoes a change in firm visibility affect value?0 aDoes a change in firm visibility affect value aMadrid, Spainc201410aFinance1 aBecker-Blease, John1 aKhoury, Ted1 aPaul, Donna u/biblio/does-change-firm-visibility-affect-value-001402nas a2200169 4500008004100000245012600041210006900167260000900236300001200245490000700257520075500264653001201019100002201031700002001053700002401073856013501097 2014 eng d00aThe Effect on Stockholder Wealth of Product Recalls and Government Action: The Case of Toyota's Accelerator Pedal Recall0 aEffect on Stockholder Wealth of Product Recalls and Government A c2014 a521-5280 v543 aWe analyze the effect of Toyota’s faulty accelerator pedal on stockholder wealth. Using the event study methodology, we show that a major recall in January of 2010 caused the company’s cumulative abnormal returns to fall by 19 percent. Continued concerns that Toyota was unable to identify and adequately fix the problem induced the National Highway Traffic Safety Administration to conduct its own investigation in March, 2010. The results of this government investigation exonerated the company and caused Toyota’s cumulative abnormal returns to rise by almost 9 percent. The Toyota case provides an opportunity to study a product recall with both company error and a government action that addressed concerns about the safety of the product.10aFinance1 aGokhale, Jayendra1 aBrooks, Raymond1 aTremblay, Victor, J u/biblio/effect-stockholder-wealth-product-recalls-and-government-action-case-toyotas-accelerator-001313nas a2200181 4500008004100000245005400041210005400095260000900149490000600158520076400164653001200928653001700940100001800957700001700975700003000992710001801022856009101040 2014 eng d00aExecutive Compensation and Agency Issues in Italy0 aExecutive Compensation and Agency Issues in Italy c20140 v53 aFrom a theoretical perspective, we posit that that dividend policies may be relevant in resolving agency issues even in a governance environment dominated by family controlled firms. Earlier research has found that in more market based systems such as the US and Canada, dividends are in fact instrumental in solving agency issues. Prior empirical research has also found that dividends have a role in mitigating agency conflicts in a bank-dominated corporate environments like that in Germany (Elston and Goldberg, 2003). This paper extends the findings of earlier research by empirically investigating whether dividends retain their importance as the mechanism for resolving residual agency issues in a family controlled governance environment like Italy10aFinance10aOSU-Cascades1 aElston, Julie1 aRondi, Laura1 aBhattacharyya, Nalanaksha1 aEmptyAuthNode u/biblio/executive-compensation-and-agency-issues-italy00445nas a2200109 4500008004100000245006900041210006800110260002100178653001200199100002400211856010000235 2014 eng d00aHow Important is Governance? Evidence from Heart Attack Survival0 aHow Important is Governance Evidence from Heart Attack Survival aDallas, TXc201410aFinance1 aKalodimos, Jonathan u/biblio/how-important-governance-evidence-heart-attack-survival00374nas a2200121 4500008004100000245003500041210003500076260001700111653001200128653001700140100001800157856007700175 2014 eng d00aInternational Entrepreneurship0 aInternational Entrepreneurship aViennac201410aFinance10aOSU-Cascades1 aElston, Julie u/biblio/international-entrepreneurship-000532nas a2200109 4500008004100000245014000041210006900181260000900250653001200259100001600271856013500287 2014 eng d00aRisk Change during Crises: How do Purely Local Companies Differ from Cross-listed Firms? Evidence from the European Crisis of 2010-20120 aRisk Change during Crises How do Purely Local Companies Differ f c201410aFinance1 aChira, Inga u/biblio/risk-change-during-crises-how-do-purely-local-companies-differ-cross-listed-firms-evidence00459nas a2200109 4500008004100000245008200041210006900123260000900192653001200201100001600213856012000229 2014 eng d00aSpecial Dividend Distributions, Firm Characteristics, and Economic Conditions0 aSpecial Dividend Distributions Firm Characteristics and Economic c201410aFinance1 aChira, Inga u/biblio/special-dividend-distributions-firm-characteristics-and-economic-conditions01258nas a2200169 4500008004100000245006800041210006600109260000900175300001200184490000700196520071400203653001200917100002000929700001700949700001600966856010600982 2014 eng d00aWhat makes when-issued trading attractive to financial markets?0 aWhat makes whenissued trading attractive to financial markets c2014 a245-2710 v233 aWhen-issued trading is the trading of securities prior to the actual issue of the security. When-issued trading is active around the world and in a variety of equity and bond markets. In this survey, we provide a general description of when-issued trading, analyze benefits and costs in various financial markets, present existing theoretical models and predictions, and synthesize empirical findings. We find that when-issued trading promotes price discovery, mitigates information asymmetry, provides convenience for trading ahead of the actual issue of the security, and in some markets reduces volatility. In addition, we offer policy implications and suggest directions for further research in this area.10aFinance1 aBrooks, Raymond1 aKim, Yong, H1 aYang, Jimmy u/biblio/what-makes-when-issued-trading-attractive-financial-markets-000473nas a2200157 4500008004100000245004900041210004800090260000900138300001200147490000700159653001200166100002000178700001700198700001600215856008400231 2014 eng d00aWhen-issued trading in the Indian IPO market0 aWhenissued trading in the Indian IPO market c2014 a170-1960 v1910aFinance1 aBrooks, Raymond1 aMathew, Prem1 aYang, Jimmy u/biblio/when-issued-trading-indian-ipo-market-200414nas a2200109 4500008004100000245005800041210005800099260002200157653001200179100002000191856009300211 2013 eng d00aAgency Problems and Cash Savings from Equity Issuance0 aAgency Problems and Cash Savings from Equity Issuance aChicago, ILc201310aFinance1 aAnthony, Andrea u/biblio/agency-problems-and-cash-savings-equity-issuance00421nas a2200157 4500008004100000245003300041210003300074260000900107300001200116490000600128653001200134100001600146700001500162700001400177856007200191 2013 eng d00aBank Exposure to Market Fear0 aBank Exposure to Market Fear c2013 a451-4590 v910aFinance1 aChira, Inga1 aMadura, I.1 aViale, A. u/biblio/bank-exposure-market-fear-000423nas a2200121 4500008004100000245005100041210004900092260002200141653001200163653001700175100001800192856009100210 2013 eng d00aBusiness Cultural Intelligence Quotient (BCIQ)0 aBusiness Cultural Intelligence Quotient BCIQ aOrlando, FLc201310aFinance10aOSU-Cascades1 aElston, Julie u/biblio/business-cultural-intelligence-quotient-bciq-001499nas a2200169 4500008004100000245010100041210006900142260000900211300001200220490000700232520090100239653001501140653001201155100001301167700001601180856013301196 2013 eng d00aThe choice between rights and underwritten equity offerings: Evidence from Chinese Stock Markets0 achoice between rights and underwritten equity offerings Evidence c2013 a235-2530 v233 aWe study the choice and valuation effects of alternative flotation methods using a sample of Chinese firms that must meet the return on equity (ROE) thresholds set by the government to raise equity capital. The ROE requirement, although changed over time, seems to play an important role on the valuation and performance of seasoned equity offerings. The analysis of 219 rights and 75 underwritten offerings between 2000 and 2004 shows that Chinese firms that are not qualified for the flotation method with a higher ROE requirement suffer the most at announcement and experience significantly lower buy-and-hold abnormal returns than those that are qualified. Our results suggest that the freedom to choose their preferred flotation method may be valuable to firms that meet the higher ROE requirement. Finally, our probit models identify several determinants of the choice of flotation methods.10aAccounting10aFinance1 aDang, Li1 aYang, Jimmy u/biblio/choice-between-rights-and-underwritten-equity-offerings-evidence-chinese-stock-markets-200290nas a2200109 4500008004100000245001500041210001500056260002200071653001200093100002000105856005500125 2013 eng d00aDiscussant0 aDiscussant aChicago, ILc201310aFinance1 aAnthony, Andrea u/biblio/discussant00624nas a2200157 4500008004100000245012700041210006900168260000900237300001000246490000700256653001200263100001700275700002700292700001600319856013100335 2013 eng d00aIs the diversification benefit of frontier markets realizable by mean-variance investors? The evidence of investable funds0 adiversification benefit of frontier markets realizable by meanva c2013 a36-480 v3910aFinance1 aBerger, Dave1 aPukthuanthong, Kuntara1 aYang, Jimmy u/biblio/diversification-benefit-frontier-markets-realizable-mean-variance-investors-evidence-000613nas a2200169 4500008004100000245008800041210006900129260000900198300001200207490000700219653001200226653001700238653003300255100001800288700001600306856012100322 2013 eng d00aEntrepreneurial motives and characteristics: An analysis of small restaurant owners0 aEntrepreneurial motives and characteristics An analysis of small c2013 a294-3050 v3510aFinance10aOSU-Cascades10aOSU-Cascades Hospitality Mgt1 aElston, Julie1 aChen, Sandy u/biblio/entrepreneurial-motives-and-characteristics-analysis-small-restaurant-owners01071nas a2200145 4500008004100000245004500041210004500086260000900131300001200140490000700152520065200159653001200811100001700823856008500840 2013 eng d00aFinancial turbulence and Beta estimation0 aFinancial turbulence and Beta estimation c2013 a251-2630 v233 aI use Mahalanobis distance based on investment opportunity variables to define turbulent periods within financial markets. The distance measure identifies periods of event-driven stress, and not necessarily low returns. CAPM betas estimated from normal sample periods explain vary little variation in cross-sectional returns. However, betas estimated from turbulent subperiods explain a large proportion of full-sample returns. Market betas for small and value portfolios increase during turbulent periods, indicating that the risk of these portfolios is greater than indicated by standard betas, and suggesting an explanation for these anomalies.10aFinance1 aBerger, Dave u/biblio/financial-turbulence-and-beta-estimation00616nas a2200133 4500008004100000245012700041210006900168260001700237520004900254653001200303653001700315100001800332856013200350 2013 eng d00aFinancing the Entrepreneurial Decision: An Empirical Approach Using Experimental Data on US High Technology Entrepreneurs0 aFinancing the Entrepreneurial Decision An Empirical Approach Usi aLondonc20133 aPublic Policy in the Entrepreneurial Society10aFinance10aOSU-Cascades1 aElston, Julie u/biblio/financing-entrepreneurial-decision-empirical-approach-using-experimental-data-us-high-400462nas a2200109 4500008004100000245009000041210006900131260000900200653001200209100001600221856011500237 2013 eng d00aThe Impact of Governance Characteristics on the Stock Price of Cross Listed Companies0 aImpact of Governance Characteristics on the Stock Price of Cross c201310aFinance1 aChira, Inga u/biblio/impact-governance-characteristics-stock-price-cross-listed-companies-000510nas a2200145 4500008004100000245007900041210006900120260000900189300001200198490000700210653001200217100001600229700001500245856010400260 2013 eng d00aImpact of the Galleon Case on Informed Trading Before Merger Announcements0 aImpact of the Galleon Case on Informed Trading Before Merger Ann c2013 a325-3470 v3610aFinance1 aChira, Inga1 aMadura, J. u/biblio/impact-galleon-case-informed-trading-merger-announcements-000389nas a2200121 4500008004100000245003500041210003500076260003200111653001200143653001700155100001800172856007700190 2013 eng d00aInternational Entrepreneurship0 aInternational Entrepreneurship aBratislava, Slovakia.c201310aFinance10aOSU-Cascades1 aElston, Julie u/biblio/international-entrepreneurship-100459nas a2200121 4500008004100000245006200041210006100103260002500164653001200189653001700201100001800218856010100236 2013 eng d00aMeasuring Risk Attitudes of High-Technology Entrepreneurs0 aMeasuring Risk Attitudes of HighTechnology Entrepreneurs aVienna Austriac201310aFinance10aOSU-Cascades1 aElston, Julie u/biblio/measuring-risk-attitudes-high-technology-entrepreneurs-000535nas a2200121 4500008004100000245010100041210006900142260002200211653001200233653001700245100001800262856013300280 2013 eng d00aMeasuring the Impacts of Risk Attitudes and Entrepreneurship of US High Technology Entrepreneurs0 aMeasuring the Impacts of Risk Attitudes and Entrepreneurship of aRome, Italyc201310aFinance10aOSU-Cascades1 aElston, Julie u/biblio/measuring-impacts-risk-attitudes-and-entrepreneurship-us-high-technology-entrepreneurs-001228nas a2200169 4500008004100000245004400041210004400085260000900129300001200138490000700150520075300157653001200910100001700922700001700939700001600956856008600972 2013 eng d00aReconsidering Price Limit Effectiveness0 aReconsidering Price Limit Effectiveness c2013 a493-5180 v363 aMost stock exchanges around the world impose daily price limits on stock prices. However, China is the only market that has experienced trading with and without price limits. We study China’s experience with price limits by comparing a subperiod with price limits to a subperiod without price limits. We provide three major sets of findings. First, we find price limits moderate transitory volatility and mitigates abnormal trading activity. Second, for poor performing stocks, a tighter price limit also appears helpful in moderating volatility and not hurtful. Finally, we find some evidence that price limits can facilitate market recovery following crashes. Many prior studies criticize price limits. Our study shows benefits of price limits.10aFinance1 aKim, Kenneth1 aLiu, Haixiao1 aYang, Jimmy u/biblio/reconsidering-price-limit-effectiveness-200481nas a2200121 4500008004100000245007500041210006900116260001700185653001200202653001700214100001800231856011000249 2013 eng d00aRisk Attitudes, Wealth and Sources of Entrepreneurial Start-Up Capital0 aRisk Attitudes Wealth and Sources of Entrepreneurial StartUp Cap aLondonc201310aFinance10aOSU-Cascades1 aElston, Julie u/biblio/risk-attitudes-wealth-and-sources-entrepreneurial-start-capital-200519nas a2200169 4500008004100000245005900041210005700100260000900157300001000166490000700176653001200183100001400195700001600209700001200225700001500237856009700252 2013 eng d00aShare Repurchases, Catering, and Dividend Substitution0 aShare Repurchases Catering and Dividend Substitution c2013 a36-500 v2110aFinance1 aJiang, Z.1 aKim, K., A.1 aLie, E.1 aYang, Sean u/biblio/share-repurchases-catering-and-dividend-substitution00276nas a2200109 4500008004100000245001300041210001300054260001800067653001200085100001300097856005600110 2013 eng d00aUntitled0 aUntitled aCroatiac201310aFinance1 aHe, Shan u/biblio/untitled-2201069nas a2200157 4500008004100000245008700041210006900128260000900197300001400206490000700220520051000227653001200737100001700749700002100766856012400787 2012 eng d00aCross-sectional performance and investor sentiment in a multiple risk factor model0 aCrosssectional performance and investor sentiment in a multiple c2012 a1107-11210 v363 aThe impact of investor sentiment on stock prices varies in the cross-section. We estimate sentiment sensitivities and find that sentiment-prone stocks exhibit the opaque characteristics hypothesized by Baker and Wurgler (2006). We then examine conditional alphas using investor sentiment as an information variable. Opaque stocks exhibit marginal performance that varies inversely with investor sentiment. Translucent stocks exhibit relatively little variability in performance across levels of sentiment.10aFinance1 aBerger, Dave1 aTurtle, Harry, J u/biblio/cross-sectional-performance-and-investor-sentiment-multiple-risk-factor-model-001087nas a2200157 4500008004100000245005400041210005300095260000900148300001200157490000700169520061900176653001200795100002000807700001600827856008600843 2012 eng d00aEmerging from bankruptcy with when-issued trading0 aEmerging from bankruptcy with whenissued trading c2012 a445-4670 v473 aWe examine the set of firms that emerged from Chapter 11 bankruptcy and traded on a when-issued basis prior to their official return to the regular way in NASDAQ, Amex, or NYSE. We find that this when-issued market is liquid and price efficient. The when-issued closing price is a good indicator of the first closing price in the regular way market. Emerging firms that have when-issued trading experience lower regular way volatility and smaller relative spreads than those without when-issued trading. Our probit regressions show that firm size is an important determinant of the adoption of when-issued trading.10aFinance1 aBrooks, Raymond1 aYang, Jimmy u/biblio/emerging-bankruptcy-when-issued-trading-100558nas a2200121 4500008004100000245012500041210006900166260002400235653001200259653001700271100001800288856013000306 2012 eng d00a“Internationalization and Regional Entrepreneurship: Empirical Evidence on the Formation of New Ventures in China”0 aInternationalization and Regional Entrepreneurship Empirical Evi aWashington DCc201210aFinance10aOSU-Cascades1 aElston, Julie u/biblio/internationalization-and-regional-entrepreneurship-empirical-evidence-formation-new-201126nas a2200157 4500008004100000245005400041210005400095260000900149300001200158490000800170520063800178653001200816100001700828700002700845856009600872 2012 eng d00aMarket fragility and international market crashes0 aMarket fragility and international market crashes c2012 a565-5800 v1053 aWe extend the Pukthuanthong and Roll (2009) measure of integration to provide an estimate of systemic risk within international equity markets. Our measure indicates an increasing likelihood of market crashes. The conditional probability of market crashes increases substantially following increases of our risk measure. High levels of our risk measure indicate the probability of a global crash is greater than the probability of local crash. That is, conditional on high levels of systemic risk, the probability of a severe crash across multiple markets is larger than the probability of a crash within a smaller number of markets.10aFinance1 aBerger, Dave1 aPukthuanthong, Kuntara u/biblio/market-fragility-and-international-market-crashes-000516nas a2200121 4500008004100000245010000041210006900141260001700210653001200227653001700239100001800256856012000274 2012 eng d00a“Regional Entrepreneurship: Empirical Evidence on the Formation of New Ventures in China”0 aRegional Entrepreneurship Empirical Evidence on the Formation of aBostonc201210aFinance10aOSU-Cascades1 aElston, Julie u/biblio/regional-entrepreneurship-empirical-evidence-formation-new-ventures-china-000420nas a2200109 4500008004100000245006200041210005800103260002000161653001200181100002400193856009300217 2012 eng d00aThe Sources of Legitimacy for New Venture Angel Investors0 aSources of Legitimacy for New Venture Angel Investors aMaastrictc201210aFinance1 aBecker-Blease, John u/biblio/sources-legitimacy-new-venture-angel-investors-000396nas a2200121 4500008004100000245004500041210004400086260000900130300001200139653001200151100002400163856008700187 2012 eng d00aStakeholder-Focused Corporate Investment0 aStakeholderFocused Corporate Investment c2012 a405-42310aFinance1 aBecker-Blease, John u/biblio/stakeholder-focused-corporate-investment-000383nas a2200109 4500008004100000245004900041210004800090260002200138653001200160100001700172856008400189 2012 eng d00aWhen-issued trading in the Indian IPO market0 aWhenissued trading in the Indian IPO market aNew Orleansc201210aFinance1 aMathew, Prem u/biblio/when-issued-trading-indian-ipo-market-300377nas a2200109 4500008004100000245004900041210004800090260001700138653001200155100001600167856008400183 2012 eng d00aWhen-issued trading in the Indian IPO market0 aWhenissued trading in the Indian IPO market aTaiwanc201210aFinance1 aYang, Jimmy u/biblio/when-issued-trading-indian-ipo-market-400542nas a2200157 4500008004100000245007500041210006900116260000900185300000900194490000700203653001200210100001600222700001500238700001500253856011600268 2011 eng d00aCan Undergraduate Students Make Optimal Decisions about Student Loans?0 aCan Undergraduate Students Make Optimal Decisions about Student c2011 a1-140 v1110aFinance1 aChira, Inga1 aChiang, E.1 aHoumes, R. u/biblio/can-undergraduate-students-make-optimal-decisions-about-student-loans-000516nas a2200109 4500008004100000245010100041210006900142260003400211653001200245100001600257856013300273 2011 eng d00aThe choice between rights and underwritten equity offerings: Evidence from Chinese stock markets0 achoice between rights and underwritten equity offerings Evidence aQueenstown, New Zealandc201110aFinance1 aYang, Jimmy u/biblio/choice-between-rights-and-underwritten-equity-offerings-evidence-chinese-stock-markets-400583nas a2200157 4500008004100000245008900041210006900130260000900199300001000208490000700218653001200225653001700237100001800254700003000272856012300302 2011 eng d00aDividends, Executive Compensation, and Agency Costs: Empirical Evidence From Germany0 aDividends Executive Compensation and Agency Costs Empirical Evid c2011 a11-200 v1110aFinance10aOSU-Cascades1 aElston, Julie1 aBhattacharyya, Nalanaksha u/biblio/dividends-executive-compensation-and-agency-costs-empirical-evidence-germany-001189nas a2200157 4500008004100000245006100041210005700102260000900159300001200168490000700180520070000187653001200887100002400899700001500923856009300938 2011 eng d00aThe Effect of Gender Diversity on Angel Group Investment0 aEffect of Gender Diversity on Angel Group Investment c2011 a709-7330 v353 aWe examine the impact that gender diversity has on angel group investment behavior for a sample of 183 group-years between 2000 and 2006. Our evidence suggests that gender diversity is a significant predictor of group investment behavior, and that the proportion of women angels in the group has a negative though nonlinear effect on investment likelihood. These data are most consistent with a situational interpretation that women invest differently when they are in the small minority compared with other situations. These results have important implications for the availability of funds for women entrepreneurs and call for greater participation of women investors in the angel marketplace.10aFinance1 aBecker-Blease, John1 aSohl, Jeff u/biblio/effect-gender-diversity-angel-group-investment-001075nas a2200145 4500008004100000245005600041210005600097260000900153490000700162520061200169653001200781100001700793700002100810856009800831 2011 eng d00aEmerging market crises and US equity market returns0 aEmerging market crises and US equity market returns c20110 v223 aWe find contagion effects are present in US small size portfolios during emerging market crises due to risk and liquidity concerns. Investors display flight from risk during emerging market crises, and as a result, safer larger stocks exhibit positive abnormal returns. We find little evidence of contagion in aggregate excess US market returns, indicating studies that focus on national aggregates may miss important within market dynamics during emerging market crises. The international dynamics that we document have important implications for investors, even when they may have limited global exposure.10aFinance1 aBerger, Dave1 aTurtle, Harry, J u/biblio/emerging-market-crises-and-us-equity-market-returns-000361nas a2200121 4500008004100000245003000041210003000071260002200101653001200123653001700135100001800152856006900170 2011 eng d00aEntrepreneurship in China0 aEntrepreneurship in China aOrlando, FLc201110aFinance10aOSU-Cascades1 aElston, Julie u/biblio/entrepreneurship-china-001431nas a2200169 4500008004100000245012600041210006900167260000900236300001200245490000700257520079300264653001201057653001701069100001801086700002501104856013201129 2011 eng d00aFinancing the Entrepreneurial Decision: An Empirical Approach Using Experimental Data on US High Technology Entrepreneurs0 aFinancing the Entrepreneurial Decision An Empirical Approach Usi c2011 a209-2220 v363 aThis paper empirically examines the role of risk attitudes and wealth on financing choices for successful US entrepreneurs. Our approach uses both survey data and data from economics based field experiments, which enables us control for the risk attitudes of entrepreneurs. Empirical findings suggest that lower levels of wealth increase the probability of using a Small Business Innovation Research (SBIR) grant, but lower levels of wealth also reduce the probability of using loan financing. In addition results show that higher levels of risk aversion, but not wealth, increase the probability of financing firm start-ups with earnings from a second job. Overall, findings suggest that both wealth and risk attitudes may play an important role in the financing choice of entrepreneurs.10aFinance10aOSU-Cascades1 aElston, Julie1 aAudretsch, David, B. u/biblio/financing-entrepreneurial-decision-empirical-approach-using-experimental-data-us-high-200371nas a2200133 4500008004100000245003000041210003000071260000900101300001200110490000700122653001200129100002400141856007200165 2011 eng d00aGovernance and Innovation0 aGovernance and Innovation c2011 a947-9580 v1710aFinance1 aBecker-Blease, John u/biblio/governance-and-innovation-101198nas a2200169 4500008004100000245005600041210005600097260000900153300001200162490000800174520068100182653001200863100001700875700002700892700001600919856009300935 2011 eng d00aInternational diversification with frontier markets0 aInternational diversification with frontier markets c2011 a227-2420 v1013 aWe provide an analysis of frontier market equities with respect to world market integration and diversification. Principal component results reveal that frontier markets exhibit low levels of integration. In contrast with developed and emerging markets, frontier markets offer no indication of increasing integration through time. Furthermore, individual frontier market countries do not exhibit consistent rates of changing integration. Structural break tests identify breakpoints in integration, as well as integration dynamics across countries. We show that frontier markets have low integration with the world market and thereby offer significant diversification benefits.10aFinance1 aBerger, Dave1 aPukthuanthong, Kuntara1 aYang, Jimmy u/biblio/international-diversification-frontier-markets-201337nas a2200157 4500008004100000245006900041210006700110260000900177300001200186490000700198520082300205653001201028100001401040700001601054856010901070 2011 eng d00aPrivate Debt, Unused Credit Lines, and Seasoned Equity Offerings0 aPrivate Debt Unused Credit Lines and Seasoned Equity Offerings c2011 a376-3880 v513 aWe study a sample of SEOs to examine the impact of private debt and unused credit lines on SEO underpricing and long-run stock and operating performance. We do not find significant effects of private debt financing on SEO underpricing and long-run stock underperformance. However, firms with more bank debt and unused lines of credit exhibit significantly better pre-issue operating performance. Changes in operating performance from the pre-issue year to the post-issue period are negatively related to the size of unused credit lines. Capital spending decreases with the size of unused credit lines in the year prior to SEOs, but increases following SEOs. Our overall evidence suggests that the post-issue operating performance we observed may be a result of overinvestment, which is enhanced by unused credit lines.10aFinance1 aLiu, Yang1 aYang, Jimmy u/biblio/private-debt-unused-credit-lines-and-seasoned-equity-offerings-000369nas a2200109 4500008004100000245004400041210004400085260001600129653001200145100001600157856008600173 2011 eng d00aReconsidering Price Limit Effectiveness0 aReconsidering Price Limit Effectiveness aMacaoc201110aFinance1 aYang, Jimmy u/biblio/reconsidering-price-limit-effectiveness-300381nas a2200109 4500008004100000245004400041210004400085260002800129653001200157100001600169856008600185 2011 eng d00aReconsidering Price Limit Effectiveness0 aReconsidering Price Limit Effectiveness aSydney, Australiac201110aFinance1 aYang, Jimmy u/biblio/reconsidering-price-limit-effectiveness-401114nas a2200145 4500008004100000245006100041210006100102260000900163300001200172490000700184520064900191653001200840100001700852856009900869 2011 eng d00aTesting the CAPM across observed and fundamental returns0 aTesting the CAPM across observed and fundamental returns c2011 a625-6360 v213 aThe CAPM describes a relationship between risk and expected forward-looking returns. Existing research tests the model using realized returns as the proxy for ex-ante expectations. However, recent studies cast doubt on the ability of ex-post observed returns to proxy for ex-ante expectations. Using an alternative specification to proxy for investor expectations, I test the CAPM in the context of pricing size and book/market equities. The results indicate that the CAPM retains additional merit with an improved measure of expectations. However, the value premium appears large and significant across both specifications of expected returns.10aFinance1 aBerger, Dave u/biblio/testing-capm-across-observed-and-fundamental-returns-000567nas a2200157 4500008004100000245009400041210006900135260000900204300001000213490000700223653001200230100001500242700001600257700001500273856012100288 2011 eng d00aThe Valuation Effect of Accounting Standard 158 on Firms with High and Low Financial Risk0 aValuation Effect of Accounting Standard 158 on Firms with High a c2011 a47-570 v3910aFinance1 aHoumes, B.1 aChira, Inga1 aBoylan, B. u/biblio/valuation-effect-accounting-standard-158-firms-high-and-low-financial-risk-000510nas a2200121 4500008004100000245008800041210006900129260002000198653001200218653001700230100001800247856012300265 2010 eng d00aAgency Costs, Dividends and Executive Compensation: Empirical Evidence from Germany0 aAgency Costs Dividends and Executive Compensation Empirical Evid aTampa, FLc201010aFinance10aOSU-Cascades1 aElston, Julie u/biblio/agency-costs-dividends-and-executive-compensation-empirical-evidence-germany-000443nas a2200121 4500008004100000245005700041210005400098260002600152653001200178653001700190100001800207856009600225 2010 eng d00aDIVIDENDS, EXECUTIVE COMPENSATION, AND AGENCY COSTS:0 aDIVIDENDS EXECUTIVE COMPENSATION AND AGENCY COSTS aChicago Il, USAc201010aFinance10aOSU-Cascades1 aElston, Julie u/biblio/dividends-executive-compensation-and-agency-costs-101069nas a2200157 4500008004100000245005600041210005400097260000900151300001200160490000700172520058900179653001200768100002400780700001600804856009100820 2010 eng d00aDoes Inclusion in a Smaller S&P Index Create Value?0 aDoes Inclusion in a Smaller SP Index Create Value c2010 a307-3300 v453 aThis study finds overall increases in equity value surrounding addition to the S&P SmallCap and MidCap indexes from 1996 to 2003 and investigates sources of the value gains. Following addition, there are significant increases in proxy variables for stock liquidity and investor recognition, and changes in these variables are impounded into the permanent component of announcement share price revisions. We also find that changes in capital investment intensity are increasing in changes in stock liquidity, consistent with a reduction in the cost of capital following index addition.10aFinance1 aBecker-Blease, John1 aPaul, Donna u/biblio/does-inclusion-smaller-sp-index-create-value-201407nas a2200181 4500008004100000245007700041210006900118260000900187300000900196490000600205520081400211653001201025100002401037700001501061700001901076700001801095856011201113 2010 eng d00aEmployees, Firm Size, and Profitability in U.S. Manufacturing Industries0 aEmployees Firm Size and Profitability in US Manufacturing Indust c2010 a7-230 v73 aThis study examines the relation between firm size and profitability within 109 SIC four-digit manufacturing industries. Depending on our measure of profitability, we find that profitability increases at a decreasing rate and eventually declines in up to 47 of our industries. No relation between profitability and size is found in up to 52 of our industries. These two categories account for 97 of our 109 industries. Profitability continues to increase as firms become larger in up to 11 industries. Hence, the relation between size and profitability is industry specific. But, regardless of the shape of the size profitability function, we find that profitability is negatively correlated with the number of employees for firms of a given size measured in terms of total assets and sales. 10aFinance1 aBecker-Blease, John1 aKaen, Fred1 aEtebari, Ahmad1 aBaumann, Hans u/biblio/employees-firm-size-and-profitability-us-manufacturing-industries-000647nas a2200157 4500008004100000245009800041210006900139260002700208653002100235653001200256653003200268100002100300700001700321700002100338856013000359 2010 eng d00aEntrepreneurial Foresight and the Endogenous Choice of Market Intermediaries in Japanese IPOs0 aEntrepreneurial Foresight and the Endogenous Choice of Market In aMontreal, Canadac201010aEntrepreneurship10aFinance10aStrategy & Entrepreneurship1 aKhoury, Theodore1 aMathew, Prem1 aHibara, Nobuhiko u/biblio/entrepreneurial-foresight-and-endogenous-choice-market-intermediaries-japanese-ipos-000414nas a2200121 4500008004100000245004600041210004600087260002400133653001200157653001700169100001800186856008800204 2010 eng d00aFinancing Entrepreneurship and Innovation0 aFinancing Entrepreneurship and Innovation aWashington DCc201010aFinance10aOSU-Cascades1 aElston, Julie u/biblio/financing-entrepreneurship-and-innovation-000379nas a2200121 4500008004100000245003500041210003300076260002700109653001200136653001700148100001800165856007400183 2010 eng d00aFirm Growth and Gibrat’s Law0 aFirm Growth and Gibrat s Law aStockholm Swedenc201010aFinance10aOSU-Cascades1 aElston, Julie u/biblio/firm-growth-and-gibrats-law-001088nas a2200169 4500008004100000245007400041210006900115260000900184300001500193490000700208520052400215653001200739100002400751700002000775700001700795856010600812 2010 eng d00aThe Impact of Gender on Voluntary and Involuntary Executive Departure0 aImpact of Gender on Voluntary and Involuntary Executive Departur c2010 a1102-1118.0 v483 aWe examine the frequency and conditions of executive departure from S&P 1500 firms. Based upon published news reports, we find that female executives are more likely than male executives to depart their positions voluntarily and involuntarily in the presence of controls for firm performance, firm governance, and human capital. We also find that women are less likely than men to depart voluntarily as firm size increases or board size decreases but more likely to be dismissed as the board becomes more male dominated10aFinance1 aBecker-Blease, John1 aElkinawy, Susan1 aStater, Mark u/biblio/impact-gender-voluntary-and-involuntary-executive-departure-300469nas a2200133 4500008004100000245005600041210005600097260001700153653001200170100001700182700002700199700001600226856009300242 2010 eng d00aInternational diversification with frontier markets0 aInternational diversification with frontier markets aTaipeic201010aFinance1 aBerger, Dave1 aPukthuanthong, Kuntara1 aYang, Jimmy u/biblio/international-diversification-frontier-markets-300481nas a2200133 4500008004100000245005600041210005600097260002900153653001200182100001700194700001600211700002700227856009300254 2010 eng d00aInternational Diversification with Frontier Markets0 aInternational Diversification with Frontier Markets aNew York, New Yorkc201010aFinance1 aBerger, Dave1 aYang, Jimmy1 aPukthuanthong, Kuntara u/biblio/international-diversification-frontier-markets-401162nas a2200133 4500008004100000245007200041210006900113260000900182490000700191520069100198653001200889100001700901856011000918 2010 eng d00aInvestor perceptions and volatility within the risk-return tradeoff0 aInvestor perceptions and volatility within the riskreturn tradeo c20100 v203 aConditional asset pricing models within the risk-return literature describe a relation between expected risk and return for period t+1, with expectations formed during period t. Existing risk estimates in the literature are formed using backwards looking measures during period t, which are projected forward for period t+1. Evidence suggests ex post observations do not always correspond with conditional ex ante expectations. Using forward looking survey data, I compare measures of expected risk, with common estimates of risk in the literature. Supporting empirical research, I find a strong relation between forward looking investor risk perceptions and conditional risk estimates.10aFinance1 aBerger, Dave u/biblio/investor-perceptions-and-volatility-within-risk-return-tradeoff-000363nas a2200109 4500008004100000245003600041210003600077260002600113653001200139100002400151856007800175 2010 eng d00aLegitimacy and Angel Investment0 aLegitimacy and Angel Investment aLondon, Englandc201010aFinance1 aBecker-Blease, John u/biblio/legitimacy-and-angel-investment-001242nas a2200157 4500008004100000245007500041210006900116260000900185300001000194490000700204520079300211653001201004653001701016100001801033856003301051 2010 eng d00aRisk Attitudes, Wealth and Sources of Entrepreneurial Start-up Capital0 aRisk Attitudes Wealth and Sources of Entrepreneurial Startup Cap c2010 a82-890 v763 aThis paper empirically examines the role of risk attitudes and wealth on financing choices for successful US entrepreneurs. Our approach uses both survey data and data from economics based field experiments, which enables us control for the risk attitudes of entrepreneurs. Empirical findings suggest that lower levels of wealth increase the probability of using a Small Business Innovation Research (SBIR) grant, but lower levels of wealth also reduce the probability of using loan financing. In addition results show that higher levels of risk aversion, but not wealth, increase the probability of financing firm start-ups with earnings from a second job. Overall, findings suggest that both wealth and risk attitudes may play an important role in the financing choice of entrepreneurs.10aFinance10aOSU-Cascades1 aElston, Julie uwww.elsevier.com/locate/jebo01697nas a2200169 4500008004100000245010700041210006900148260000900217300001200226490000700238520108600245653001201331653001701343100001801360700001601378856013301394 2010 eng d00aVenture Capital, Ownership Structure, Accounting Standards and IPO Underpricing: Evidence from Germany0 aVenture Capital Ownership Structure Accounting Standards and IPO c2010 a517-5360 v623 aThis study investigates the impact of venture capital (VC), ownership structure, and accounting standards on initial public offering (IPO) underpricing in Germany. Using data from Germany's Neuer Markt (NM), we test two key hypotheses regarding IPO underpricing; first, whether VC ownership and higher levels of post-IPO insider ownership result in lower underpricing, and second, whether additional information disclosure results in lower underpricing. Besides the standard underpricing measure, we also use a modified underpricing measure to better assess true entrepreneurial wealth loss. Robust findings indicate that none of these factors are significant in lowering IPO underpricing, which suggests the importance of examining standard theories within alternative institutional environments. Results are consistent with the stylized fact that Germany's NM firms had relatively minimal use of VC financing, which may point to not only a weaker role for venture capitalists in Germany but fewer incentives to reduce information asymmetry arising from outside ownership.
10aFinance10aOSU-Cascades1 aElston, Julie1 aYang, Jimmy u/biblio/venture-capital-ownership-structure-accounting-standards-and-ipo-underpricing-evidence-001259nas a2200169 4500008004100000245008500041210006900126260000900195300001200204490000700216520068500223653001200908653001700920100002100937700001600958856011500974 2009 eng d00aA censored stochastic volatility approach to the estimation of price limit moves0 acensored stochastic volatility approach to the estimation of pri c2009 a337-3510 v163 aA censored stochastic volatility model is developed to reconstruct a return series censored by price limits, one popular form of market stabilization mechanisms. When price limits are reached, the observed prices are truncated and the equilibrium prices are unobservable, which makes further financial analyses difficult. The model offers theoretically sound estimates of censored returns and is demonstrated via simulations to outperform existing approaches with respect to the estimates of model parameters, unconditional means, and standard deviations. The algorithm is applied to model stock and futures returns and results are consistent with the simulation outcomes.
10aFinance10aSupply Chain1 aHsieh, Ping-Hung1 aYang, Jimmy u/biblio/censored-stochastic-volatility-approach-estimation-price-limit-moves-001361nas a2200169 4500008004100000245008200041210006900123260000900192300001200201490000700213520078900220653001201009653001701021100001801038700001701056856011801073 2009 eng d00aCorporate Governance and Capital Accumulation: Firm Level Evidence from Italy0 aCorporate Governance and Capital Accumulation Firm Level Evidenc c2009 a634-6610 v563 aThis study investigates the impact of investor protection on firm ownership and investment decisions in a model where investor protection is allowed to vary across firms. Using firm panel data for Italy, we construct firm level variables to capture the degree of investor protection which is specific to the firm and observable by outside shareholders. Empirical evidence indicates that the stronger the investor protections the lower the fraction of equity that is owned by insiders. Results also suggest that higher insider equity ownership is linked to a larger risk premium and higher costs of capital for the firm. Finally, our findings indicate that the magnitude of capital stock distortions is important when shareholder protection is weak and ownership concentration is high.10aFinance10aOSU-Cascades1 aElston, Julie1 aRondi, Laura u/biblio/corporate-governance-and-capital-accumulation-firm-level-evidence-italy-000400nas a2200133 4500008004100000245004000041210004000081260000900121300001200130490000900142653001200151100002400163856007900187 2009 eng d00aCorporate Responsibility in Finance0 aCorporate Responsibility in Finance c2009 a198-2050 v200910aFinance1 aBecker-Blease, John u/biblio/corporate-responsibility-finance-000439nas a2200121 4500008004100000245005600041210005400097260002300151653001200174653001700186100001800203856009600221 2009 eng d00aDividends, Executive Compensation, and Agency Costs0 aDividends Executive Compensation and Agency Costs aMilan, Italyc200910aFinance10aOSU-Cascades1 aElston, Julie u/biblio/dividends-executive-compensation-and-agency-costs-201328nas a2200157 4500008004100000245007800041210006900119260000900188300001200197490000600209520079300215653001201008100001801020700001601038856011601054 2009 eng d00aEffect of price limits: initial public offerings versus seasoned equities0 aEffect of price limits initial public offerings versus seasoned c2009 a295-3180 v93 aIn this paper, we examine the effect of price limits on initial public offerings (IPOs) using Taiwanese data. On average, it takes 6.24 days for IPOs to reach their equilibrium prices in the presence of a 7% price limit. We compare IPOs with their industry- and size-matched seasoned equities (MSEs) and observe higher volatility levels on subsequent days for IPOs than for MSEs. However, the higher volatility decays within 2 days. Lower price limits interfere with trading and lead to higher trading activity on subsequent days for IPOs than for MSEs. We also observe delayed price discovery for both IPOs and MSEs. Overall, our results provide evidence about the effect of price limits on IPOs and generate important regulatory implications for countries imposing price limits on IPOs.10aFinance1 aKim, Yong, H.1 aYang, Jimmy u/biblio/effect-price-limits-initial-public-offerings-versus-seasoned-equities-001246nas a2200157 4500008004100000245009100041210006900132260000900201300001000210490000700220520070100227653001200928100001500940700001700955856011600972 2009 eng d00aThe efficiency of international information flow: Evidence from the ETF and CEF Prices0 aefficiency of international information flow Evidence from the E c2009 a40-490 v183 aWhile similar in their trading and organization, closed-end funds (CEFs) and exchange-traded funds (ETFs) differ in their liquidity and ease of arbitrage. We compare their price transmission dynamics using a sample of funds that invest in foreign securities and are most likely to show the deficiencies in the manner in which they process information. Our analysis shows that ETF returns are more closely related to their portfolio returns than CEF returns. However, both fund types underreact to portfolio returns but overreact to domestic stock market returns. A simple trading strategy using these results is profitable with roundtrip trading costs less than 1.38% for CEFs and 0.71% for ETFs.10aFinance1 aHughen, C.1 aMathew, Prem u/biblio/efficiency-international-information-flow-evidence-etf-and-cef-prices-100359nas a2200121 4500008004100000245003000041210003000071260001800101653001200119100001700131700001700148856007200165 2009 eng d00aEmerging Market Contagion0 aEmerging Market Contagion aChicagoc200910aFinance1 aBerger, Dave1 aTurtle, H, J u/biblio/emerging-market-contagion-000556nas a2200121 4500008004100000245012700041210006900168260001800237653001200255653001700267100001800284856013200302 2009 eng d00aFinancing the Entrepreneurial Decision: An Empirical Approach Using Experimental Data on US High Technology Entrepreneurs0 aFinancing the Entrepreneurial Decision An Empirical Approach Usi aGermanyc200910aFinance10aOSU-Cascades1 aElston, Julie u/biblio/financing-entrepreneurial-decision-empirical-approach-using-experimental-data-us-high-300338nas a2200109 4500008004100000245003000041210003000071260001900101653001200120100002400132856007200156 2009 eng d00aGovernance and Innovation0 aGovernance and Innovation aReno, NVc200910aFinance1 aBecker-Blease, John u/biblio/governance-and-innovation-200448nas a2200109 4500008004100000245007700041210006900118260000900187653001200196100002400208856010600232 2009 eng d00aIntegration Of Stakeholderism/Sustainability Into The Finance Curriculum0 aIntegration Of StakeholderismSustainability Into The Finance Cur c200910aFinance1 aBecker-Blease, John u/biblio/integration-stakeholderismsustainability-finance-curriculum-001149nas a2200181 4500008004100000245005600041210005100097260000900148300001200157490000700169520062000176653001200796653001700808100002100825700001700846700001600863856008800879 2009 eng d00aThe magnet effect of price limits: a logit approach0 amagnet effect of price limits a logit approach c2009 a830-8370 v163 aWe investigate the magnet effect of price limits using transaction data from the Taiwan Stock Exchange. A logit model incorporates explanatory variables from microstructure literature and reveals that the conditional probability of a price increase (decrease) increases significantly when the price approaches the upper (lower) price limit, in support of the magnet effect. Our approach recognizes when the magnet effect starts to emerge and identifies possible determinants of magnet effect. The probability of information-based trading has a significant impact on the magnet effect for lower price limits.
10aFinance10aSupply Chain1 aHsieh, Ping-Hung1 aKim, Yong, H1 aYang, Jimmy u/biblio/magnet-effect-price-limits-logit-approach-001014nas a2200157 4500008004100000245004500041210004500086260000900131300001200140490000700152520058200159653001200741100001700753700002100770856006500791 2009 eng d00aTime variability in market risk aversion0 aTime variability in market risk aversion c2009 a285-3070 v323 aWe adopt realized covariances to estimate the coefficient of risk aversion across portfolios and through time. Our approach yields second moments that are free from measurement error and not influenced by a specified model for expected returns. Supporting the permanent income hypothesis, we find risk aversion responds to consumption smoothing behavior. As income increases, or as the ratio of consumption-to-income falls, relative risk aversion decreases. We also document variation in risk aversion across portfolios: risk aversion is highest for small and value portfolios.10aFinance1 aBerger, Dave1 aTurtle, Harry, J uhttp://www.blackwellpublishing.com/journal.asp?ref=0270-259200376nas a2200109 4500008004100000245004800041210004400089260002100133653001200154100002400166856007600190 2008 eng d00aThe Advisory Role of the Board of Directors0 aAdvisory Role of the Board of Directors aDallas, TXc200810aFinance1 aBecker-Blease, John u/biblio/advisory-role-board-directors-000416nas a2200109 4500008004100000245005800041210005800099260002100157653001200178100002400190856009200214 2008 eng d00aCEO Compensation and the Market for Corporate Control0 aCEO Compensation and the Market for Corporate Control aDallas, TXc200810aFinance1 aBecker-Blease, John u/biblio/ceo-compensation-and-market-corporate-control-000456nas a2200133 4500008004100000245005400041210005200095260002100147490000900168653001200177100002400189700001500213856009400228 2008 eng d00aConfidence and Angel Investment: Does Sex Matter?0 aConfidence and Angel Investment Does Sex Matter aBoston, MAc20080 v200810aFinance1 aBecker-Blease, John1 aSohl, Jeff u/biblio/confidence-and-angel-investment-does-sex-matter-000474nas a2200121 4500008004100000245006500041210006400106260003400170653001200204653001700216100001800233856010100251 2008 eng d00aDividends and Agency Issues: Empirical Evidence From Germany0 aDividends and Agency Issues Empirical Evidence From Germany aSt. John's Newfoundlandc200810aFinance10aOSU-Cascades1 aElston, Julie u/biblio/dividends-and-agency-issues-empirical-evidence-germany-100474nas a2200121 4500008004100000245006500041210006400106260003400170653001200204653001700216100001800233856010100251 2008 eng d00aDividends and Agency Issues: Empirical Evidence From Germany0 aDividends and Agency Issues Empirical Evidence From Germany aSt. John's Newfoundlandc200810aFinance10aOSU-Cascades1 aElston, Julie u/biblio/dividends-and-agency-issues-empirical-evidence-germany-000586nas a2200145 4500008004100000245011100041210006900152260000900221300001200230490000700242653001200249100002400261700001800285856013700303 2008 eng d00aDo Corporate Governance Attributes Affect Adverse Selection Costs? Evidence from Seasoned Equity Offerings0 aDo Corporate Governance Attributes Affect Adverse Selection Cost c2008 a281-2960 v3010aFinance1 aBecker-Blease, John1 aIrani, Afshad u/biblio/do-corporate-governance-attributes-affect-adverse-selection-costs-evidence-seasoned-equity-000397nas a2200109 4500008004100000245004800041210004700089260002600136653001200162100002400174856008900198 2008 eng d00aDo Men and Women Angels Invest Differently?0 aDo Men and Women Angels Invest Differently aBabson Park, MAc200810aFinance1 aBecker-Blease, John u/biblio/do-men-and-women-angels-invest-differently-101309nas a2200157 4500008004100000245008000041210006900121260000900190300001200199490000700211520077500218653001200993100001801005700001601023856011201039 2008 eng d00aThe Effect of Price Limits on Intraday Volatility and Information Asymmetry0 aEffect of Price Limits on Intraday Volatility and Information As c2008 a522-5380 v163 aWe investigate the effect of price limits on intra-day volatility and information asymmetry using transactions data from the Taiwan Stock Exchange. Proponents of price limits argue that they provide an opportunity for investors to reevaluate market information and make more rational trading decisions. We identify three different limit hits – closing, single, and consecutive – and hypothesize that only the consecutive limit hits are likely to provide such an opportunity, namely, to counter investor overreaction (volatility hypothesis) and to enhance information revelation (information asymmetry hypothesis). Our empirical evidence supports the volatility hypothesis. Our findings generate important policy implications for stock markets that have price limits.10aFinance1 aKim, Yong, H.1 aYang, Jimmy u/biblio/effect-price-limits-intraday-volatility-and-information-asymmetry-000510nas a2200121 4500008004100000245009100041210006900132260002400201653001200225100001700237700001800254856011600272 2008 eng d00aThe Efficiency of International Information Flow: Evidence from the ETF and CEF Prices0 aEfficiency of International Information Flow Evidence from the E aDallas, Texasc200810aFinance1 aMathew, Prem1 aHughen, Chris u/biblio/efficiency-international-information-flow-evidence-etf-and-cef-prices-200421nas a2200121 4500008004100000245005400041210005300095260001700148653001200165100002000177700001600197856008600213 2008 eng d00aEmerging from Bankruptcy with When-Issued Trading0 aEmerging from Bankruptcy with WhenIssued Trading aDallasc200810aFinance1 aBrooks, Raymond1 aYang, Jimmy u/biblio/emerging-bankruptcy-when-issued-trading-200368nas a2200121 4500008004100000245003100041210003100072260002300103653001200126653001700138100001800155856007300173 2008 eng d00aFinancing Entrepreneurship0 aFinancing Entrepreneurship aJena Germanyc200810aFinance10aOSU-Cascades1 aElston, Julie u/biblio/financing-entrepreneurship-200474nas a2200121 4500008004100000245006600041210006400107260002400171653001200195100001700207700002100224856010700245 2008 eng d00aHow Does Bunching Affect Bid-Ask Spread Component Estimation?0 aHow Does Bunching Affect BidAsk Spread Component Estimation aDallas, Texasc200810aFinance1 aMathew, Prem1 aMichayluk, David u/biblio/how-does-bunching-affect-bid-ask-spread-component-estimation-000584nas a2200133 4500008004100000245012000041210006900161260002400230653001200254653001700266100001600283700001800299856013300317 2008 eng d00aThe Impact of Accounting Standards and Ownership Structure on IPO Underpricing: Evidence from Germany's Neuer Markt0 aImpact of Accounting Standards and Ownership Structure on IPO Un aLas Vegas, NVc200810aFinance10aOSU-Cascades1 aYang, Jimmy1 aElston, Julie u/biblio/impact-accounting-standards-and-ownership-structure-ipo-underpricing-evidence-germanys-000583nas a2200133 4500008004100000245012300041210006900164260002000233653001200253653001700265100001600282700001800298856013300316 2008 eng d00aThe impact of accounting standards and ownership structure on IPO underpricing: evidence from Germany’s Neuer Market0 aimpact of accounting standards and ownership structure on IPO un aLas Vegasc200810aFinance10aOSU-Cascades1 aYang, Jimmy1 aElston, Julie u/biblio/impact-accounting-standards-and-ownership-structure-ipo-underpricing-evidence-germanys-100457nas a2200109 4500008004100000245007400041210006900115260002100184653001200205100002400217856010600241 2008 eng d00aThe Impact of Gender on Voluntary and Involuntary Executive Departure0 aImpact of Gender on Voluntary and Involuntary Executive Departur aLoyola, CAc200810aFinance1 aBecker-Blease, John u/biblio/impact-gender-voluntary-and-involuntary-executive-departure-400413nas a2200109 4500008004100000245005400041210005400095260002700149653001200176100002400188856009100212 2008 eng d00aIncorporating Stakeholders into Corporate Finance0 aIncorporating Stakeholders into Corporate Finance aHilton Head, SC;c200810aFinance1 aBecker-Blease, John u/biblio/incorporating-stakeholders-corporate-finance-000378nas a2200109 4500008004100000245004500041210004400086260002100130653001200151100002400163856008100187 2008 eng d00aIntegrating stakeholderism into finance.0 aIntegrating stakeholderism into finance aBoston, MAc200810aFinance1 aBecker-Blease, John u/biblio/integrating-stakeholderism-finance-000410nas a2200109 4500008004100000245005500041210005500096260002100151653001200172100002400184856009200208 2008 eng d00aIntegrating sustainability into finance discipline0 aIntegrating sustainability into finance discipline aDallas, TXc200810aFinance1 aBecker-Blease, John u/biblio/integrating-sustainability-finance-discipline-000636nas a2200157 4500008004100000245013200041210006900173260000900242300001000251490000700261653001200268100002400280700002000304700001900324856013500343 2008 eng d00aMergers and Acquisitions as a Response to the Deregulation of the Electric Power Industry: Value Creation or Value Destruction?0 aMergers and Acquisitions as a Response to the Deregulation of th c2008 a21-530 v3310aFinance1 aBecker-Blease, John1 aGoldberg, Larry1 aKaen, Fred, R. u/biblio/mergers-and-acquisitions-response-deregulation-electric-power-industry-value-creation-or-001303nas a2200169 4500008004100000245010100041210006900142260000900211300001200220490000700232520070200239653001200941100001800953700001600971700001600987856013001003 2008 eng d00aRelative Performance of Trading Halts and Price Limits: Evidence from the Spanish Stock Exchange0 aRelative Performance of Trading Halts and Price Limits Evidence c2008 a197-2150 v173 aWe study the relative performance of trading halts and price limits using data from the Spanish Stock Exchange where both mechanisms have coexisted. According to our evidence, trading activity increases after either mechanism is triggered. Volatility stays the same after trading halts but increases after price limit hits. Our evidence also shows that the bid–ask spread is narrower after trading halts but wider after price limit hits. Information is efficiently reflected in stock prices once trading resumes after trading halts, but there is evidence of market overreaction for upper price limits. Our overall result may have important policy implications for financial markets in the world.10aFinance1 aKim, Yong, H.1 aYague, Jose1 aYang, Jimmy u/biblio/relative-performance-trading-halts-and-price-limits-evidence-spanish-stock-exchange-000363nas a2200109 4500008004100000245004500041210004500086260000900131653001200140100001700152856008400169 2008 eng d00aTime Variability in Market Risk Aversion0 aTime Variability in Market Risk Aversion c200810aFinance1 aBerger, Dave u/biblio/time-variability-market-risk-aversion-300547nas a2200157 4500008004100000245007100041210006700112260000900179300001400188490000700202653001200209100003200221700001700253700002000270856009900290 2008 eng d00aThe Value of Stability Ratings to the Canadian Income Trust Market0 aValue of Stability Ratings to the Canadian Income Trust Market c2008 a1465-14740 v1810aFinance1 aNeeliah-Chinniah, Priscilla1 aMathew, Prem1 aYildirim, Semih u/biblio/value-stability-ratings-canadian-income-trust-market-000450nas a2200145 4500008004100000245004900041210004800090260000900138300001200147490000700159653001200166100002400178700001500202856008700217 2007 eng d00aAngel Capital Access for Women-Entrepreneurs0 aAngel Capital Access for WomenEntrepreneurs c2007 a503-5210 v2210aFinance1 aBecker-Blease, John1 aSohl, Jeff u/biblio/angel-capital-access-women-entrepreneurs-000525nas a2200157 4500008004100000245006700041210006600108260000900174300001200183490000700195653001200202100001700214700001800231700001500249856010300264 2007 eng d00aAre Foreign Issuers Complying with Regulation Fair Disclosure?0 aAre Foreign Issuers Complying with Regulation Fair Disclosure c2007 a246-2600 v1710aFinance1 aMathew, Prem1 aMichayluk, D.1 aKofman, P. u/biblio/are-foreign-issuers-complying-regulation-fair-disclosure-000382nas a2200121 4500008004100000245003600041210003600077260002600113653001200139653001700151100001800168856007400186 2007 eng d00aCharacterizing the Entrepreneur0 aCharacterizing the Entrepreneur aRiverwalk Hotelc200710aFinance10aOSU-Cascades1 aElston, Julie u/biblio/characterizing-entrepreneur-000556nas a2200133 4500008004100000245010500041210006900146260001800215653001500233653001200248100001300260700001600273856013300289 2007 eng d00aThe choice between rights and underwritten equity offerings: evidence from the Chinese Stock Markets0 achoice between rights and underwritten equity offerings evidence aOrlandoc200710aAccounting10aFinance1 aDang, Li1 aYang, Jimmy u/biblio/choice-between-rights-and-underwritten-equity-offerings-evidence-chinese-stock-markets-300393nas a2200109 4500008004100000245005300041210005100094260000900145653001200154100002400166856009300190 2007 eng d00aConfidence and Angel Investors: Does Sex Matter?0 aConfidence and Angel Investors Does Sex Matter c200710aFinance1 aBecker-Blease, John u/biblio/confidence-and-angel-investors-does-sex-matter-000392nas a2200109 4500008004100000245004800041210004700089260002100136653001200157100002400169856008900193 2007 eng d00aDo Men and Women Angels Invest Differently?0 aDo Men and Women Angels Invest Differently aDallas, TXc200710aFinance1 aBecker-Blease, John u/biblio/do-men-and-women-angels-invest-differently-200368nas a2200121 4500008004100000245003100041210003100072260002300103653001200126653001700138100001800155856007300173 2007 eng d00aFinancing Entrepreneurship0 aFinancing Entrepreneurship aOSU Cascadesc200710aFinance10aOSU-Cascades1 aElston, Julie u/biblio/financing-entrepreneurship-400373nas a2200121 4500008004100000245003100041210003100072260002800103653001200131653001700143100001800160856007300178 2007 eng d00aFinancing Entrepreneurship0 aFinancing Entrepreneurship aTegernsee Germanyc200710aFinance10aOSU-Cascades1 aElston, Julie u/biblio/financing-entrepreneurship-300460nas a2200109 4500008004100000245007400041210006900115260002400184653001200208100002400220856010600244 2007 eng d00aThe Impact of Gender on Voluntary and Involuntary Executive Departure0 aImpact of Gender on Voluntary and Involuntary Executive Departur aLas Vegas, NVc200710aFinance1 aBecker-Blease, John u/biblio/impact-gender-voluntary-and-involuntary-executive-departure-500528nas a2200145 4500008004100000245007100041210006600112260002000178653001200198653001700210100002100227700001800248700001600266856010000282 2007 eng d00aThe Magnet Effect of Price Limits: Evidence from Transactions Data0 aMagnet Effect of Price Limits Evidence from Transactions Data aHong Kongc200710aFinance10aSupply Chain1 aHsieh, Ping-Hung1 aKim, Yong, H.1 aYang, Jimmy u/biblio/magnet-effect-price-limits-evidence-transactions-data-200554nas a2200157 4500008004100000245007700041210006900118260000900187300001100196490000700207653001200214100002400226700002000250700001700270856010900287 2007 eng d00aMedia Reporting of Executive Resignations: Is There a Gender Difference?0 aMedia Reporting of Executive Resignations Is There a Gender Diff c2007 a98-1130 v1610aFinance1 aBecker-Blease, John1 aElkinawy, Susan1 aStater, Mark u/biblio/media-reporting-executive-resignations-there-gender-difference-001371nas a2200169 4500008004100000245009100041210006900132260000900201300001200210490000700222520078800229653001201017653001701029100001801046700001701064856012001081 2007 eng d00aShareholder Protection and the Cost of Capital: Evidence from German and Italian Firms0 aShareholder Protection and the Cost of Capital Evidence from Ger c2007 a153-1720 v183 aWe investigate the interaction of investor protection, ownership concentration and firms’ financing and investment decisions in a model where investor protection is allowed to vary across firms. Using firm panel data for Italy, we construct firm level variables to capture the degree of investor protection which is specific to the firm and observable by outside shareholders. We find that the stronger the investor protections the lower the fraction of equity that is owned by insiders. We also find that the higher the insider equity ownership the higher the idiosyncratic risk premium in the cost of capital. Finally, our results indicate that the magnitude of capital stock distortions is quite important when shareholder protection is weak and ownership concentration is high.10aFinance10aOSU-Cascades1 aElston, Julie1 aRondi, Laura u/biblio/shareholder-protection-and-cost-capital-evidence-german-and-italian-firms-001151nas a2200157 4500008004100000245009000041210006900131260000900200300001000209490000600219520059900225653001200824100002000836700001600856856012100872 2007 eng d00aTeaching an Old Dog New Tricks: Using the Dividend Growth Model in Financial Planning0 aTeaching an Old Dog New Tricks Using the Dividend Growth Model i c2007 a65-730 v63 aThe Dividend Growth Model is a standard pedagogical tool in pricing stocks where the dividend grows at a constant rate. However, few dividend policies conform to this restrictive pattern and therefore the model is often quickly discarded in finance classes. The constant growth assumption of a cash flow stream fits well with other financial problems such as saving for a college education or contributions to a pension plan. This paper presents a couple of applications for the Dividend Growth Model plus an extension to the model and belies the adage: you can’t teach an old dog new tricks.10aFinance1 aBrooks, Raymond1 aYang, Jimmy u/biblio/teaching-old-dog-new-tricks-using-dividend-growth-model-financial-planning-000363nas a2200109 4500008004100000245004500041210004500086260000900131653001200140100001700152856008400169 2007 eng d00aTime variability in market risk aversion0 aTime variability in market risk aversion c200710aFinance1 aBerger, Dave u/biblio/time-variability-market-risk-aversion-400290nas a2200109 4500008004100000245001300041210001300054260002300067653001200090100002200102856005600124 2007 eng d00aUntitled0 aUntitled aPortland, ORc200710aFinance1 aRomero, Madeleine u/biblio/untitled-3600270nas a2200109 4500008004100000245001300041210001300054260000900067653001200076100001600088856005600104 2007 eng d00aUntitled0 aUntitled c200710aFinance1 aYang, Jimmy u/biblio/untitled-3700536nas a2200121 4500008004100000245009900041210006900140260003100209653001200240100001600252700001400268856013200282 2006 eng d00aAre banking relations beneficial to established firms? evidence from seasoned equity offerings0 aAre banking relations beneficial to established firms evidence f aSalt Lake City, Utahc200610aFinance1 aYang, Jimmy1 aLiu, Yang u/biblio/are-banking-relations-beneficial-established-firms-evidence-seasoned-equity-offerings-001602nas a2200169 4500008004100000245010200041210006900143260000900212300000900221490000700230520098700237653001201224653001701236100002501253700001801278856013601296 2006 eng d00aCan Institutional Change Impact High-Technology Firm Growth: Evidence from Germany's Neuer Markt0 aCan Institutional Change Impact HighTechnology Firm Growth Evide c2006 a9-230 v253 aTo facilitate the transformation of the German economy from the traditional manufacturing industries towards emerging new technologies, a new segment of the Frankfurt exchange was introduced in 1997 the Neuer Markt. To examine whether the Neuer Markt was successful, we compare the relationship between firm size and growth for firms listed on the Neuer Markt and contrast the results with two benchmarks: (1) for German firms prior to the 1990s (to reflect the older traditional manufacturing sector) and (2) for the stylized results for the US. This study provides evidence that not only did many new firms obtain funding from the Neuer Markt; but that for the first time in recent history, Germany succeeded in enabling smaller firms to grow faster than larger firms. This suggests that the new policies were not only successful in promoting a new type of firm that otherwise might not exist, but in transforming the sources of growth and innovation within the German economy.10aFinance10aOSU-Cascades1 aAudretsch, David, B.1 aElston, Julie u/biblio/can-institutional-change-impact-high-technology-firm-growth-evidence-germanys-neuer-markt-000467nas a2200121 4500008004100000245007200041210006900113260001700182653001200199100001600211700001700227856010100244 2006 eng d00aCooling-off effect of price limits: evidence from transactions data0 aCoolingoff effect of price limits evidence from transactions dat aBostonc200610aFinance1 aYang, Jimmy1 aKim, Yong, H u/biblio/cooling-effect-price-limits-evidence-transactions-data-000511nas a2200121 4500008004100000245008600041210006900127260003100196653001200227100001700239700001800256856011500274 2006 eng d00aThe Dynamics of International Information Flow: Evidence from Daily Country FUnds0 aDynamics of International Information Flow Evidence from Daily C aSalt Lake City, Utahc200610aFinance1 aMathew, Prem1 aHughen, Chris u/biblio/dynamics-international-information-flow-evidence-daily-country-funds-000511nas a2200121 4500008004100000245009400041210006900135260001800204653001200222100001700234700001800251856012000269 2006 eng d00aThe Dynamics of International Information Flow: Evidence from Daily Data on Country Funds0 aDynamics of International Information Flow Evidence from Daily D aChicagoc200610aFinance1 aMathew, Prem1 aHughen, Chris u/biblio/dynamics-international-information-flow-evidence-daily-data-country-funds-101366nas a2200157 4500008004100000245009400041210006900135260000900204300000900213490000700222520081500229653001201044100001601056700001701072856011901089 2006 eng d00aAn Examination of the Differential Impact of Regulation FD on Analysts' Forecast Accuracy0 aExamination of the Differential Impact of Regulation FD on Analy c2006 a9-310 v413 aRegulation fair disclosure (FD) requires companies to publicly disseminate information, effectively preventing the selective pre-earnings announcement guidance to analysts common in the past. We investigate the effects of Regulation FD's reducing information disparity across analysts on their forecast accuracy. Proxies for private information, including brokerage size and analyst company-specific experience, lose their explanatory power for analysts' relative accuracy after Regulation FD. Analyst forecast accuracy declines overall, but analysts that are relatively less accurate (more accurate) before Regulation FD improve (deteriorate) after implementation. Our findings are consistent with selective guidance partially explaining variation in the forecasting accuracy of analysts before Regulation FD.10aFinance1 aFindlay, S.1 aMathew, Prem u/biblio/examination-differential-impact-regulation-fd-analysts-forecast-accuracy-001243nas a2200169 4500008004100000245008000041210006900121260000900190300001000199490000700209520067200216653001200888653001700900100002500917700001800942856011300960 2006 eng d00aFinance, Control and Profitability: An Evaluation of German Bank Influence0 aFinance Control and Profitability An Evaluation of German Bank I c2006 a69-880 v593 aBank intermediated finance has been cited frequently as the preferred means for channeling funds from savers to firms. Germany is the prototypical economy where powerful universal banks allegedly exert substantial influence over firms. Despite frequent assertions about the advantages of a bank relation, empirical support is mixed. With a unique dataset and a focus on the fragility/sturdiness of inferences, this paper evaluates German bank influence in terms of three hypotheses: (1) do bank influenced firms enjoy lower finance costs? (No); (2) is bank influence a solution to control problems? (Yes); (3) do bank influenced firms have higher profitability? (No).10aFinance10aOSU-Cascades1 aChirinko, Robert, S.1 aElston, Julie u/biblio/finance-control-and-profitability-evaluation-german-bank-influence-200365nas a2200121 4500008004100000245003000041210003000071260002300101653001200124653001700136100001800153856007200171 2006 eng d00aFinancing Entrpreneurship0 aFinancing Entrpreneurship aJena Germanyc200610aFinance10aOSU-Cascades1 aElston, Julie u/biblio/financing-entrpreneurship-000461nas a2200109 4500008004100000245007400041210006900115260002500184653001200209100002400221856010600245 2006 eng d00aThe Impact of Gender on Voluntary and Involuntary Executive Departure0 aImpact of Gender on Voluntary and Involuntary Executive Departur aCharleston, SCc200610aFinance1 aBecker-Blease, John u/biblio/impact-gender-voluntary-and-involuntary-executive-departure-600539nas a2200145 4500008004100000245007100041210006600112260003100178653001200209653001700221100001600238700002100254700001800275856010000293 2006 eng d00aThe magnet effect of price limits: evidence from transactions data0 amagnet effect of price limits evidence from transactions data aSalt Lake City, Utahc200610aFinance10aSupply Chain1 aYang, Jimmy1 aHsieh, Ping-Hung1 aKim, Yong, H. u/biblio/magnet-effect-price-limits-evidence-transactions-data-300538nas a2200145 4500008004100000245007100041210006600112260003000178653001200208653001700220100002100237700001800258700001600276856010000292 2006 eng d00aThe Magnet Effect of Price Limits: Evidence from Transactions Data0 aMagnet Effect of Price Limits Evidence from Transactions Data aSeattle, Washingtonc200610aFinance10aSupply Chain1 aHsieh, Ping-Hung1 aKim, Yong, H.1 aYang, Jimmy u/biblio/magnet-effect-price-limits-evidence-transactions-data-400530nas a2200145 4500008004100000245008000041210006900121260000900190300001000199490000700209653001200216100002400228700001600252856011600268 2006 eng d00aStock Liquidity and Investment Opportunities: Evidence from Index Additions0 aStock Liquidity and Investment Opportunities Evidence from Index c2006 a35-520 v3510aFinance1 aBecker-Blease, John1 aPaul, Donna u/biblio/stock-liquidity-and-investment-opportunities-evidence-index-additions-000376nas a2200109 4500008004100000245004200041210004200083260002100125653001200146100002400158856008400182 2005 eng d00aAngel Capital and Women Entrepreneurs0 aAngel Capital and Women Entrepreneurs aBoston, MAc200510aFinance1 aBecker-Blease, John u/biblio/angel-capital-and-women-entrepreneurs-001121nas a2200157 4500008004100000245004400041210003500085260000900120300001200129490000700141520069600148653001200844100001900856700001700875856007100892 2005 eng d00aIs the Book-to-Market a Measure of Risk0 aBooktoMarket a Measure of Risk c2005 a487-5020 v283 aWe develop a leverage-based alternative to traditional asset pricing models to investigate whether the book-to-market ratio acts as a proxy for risk. We argue that the book-to-market ratio should act as a proxy because of the expected relations between (1) financial risk and measures of capital structure based on the market value of equity and (2) asset risk and measures of capital structure based on the book value of equity. We find no relation between average stock returns and the book-to-market ratio in all-equity firms after controlling for firm size, and an inverse relation between average stock returns and the book-to-market ratio in firms with a negative book value of equity.10aFinance1 aPeterkort, Bob1 aNielsen, Jim u/biblio/book-market-measure-risk-000511nas a2200121 4500008004100000245009400041210006900135260001800204653001200222100001700234700001800251856012000269 2005 eng d00aThe Dynamics of International Information Flow: Evidence from Daily Data on Country Funds0 aDynamics of International Information Flow Evidence from Daily D aChicagoc200510aFinance1 aMathew, Prem1 aHughen, Chris u/biblio/dynamics-international-information-flow-evidence-daily-data-country-funds-201619nas a2200169 4500008004100000245008100041210006900122260000900191300001200200490000700212520104800219653001201267100002401279700001701303700002001320856010901340 2005 eng d00aThe Effects of Market Inefficiencies on Trading Strategies for Country Funds0 aEffects of Market Inefficiencies on Trading Strategies for Count c2005 a2964-840 v163 aEconomists disagree about how sensitive country fund prices are to U.S. market returns. We provide additional evidence on this issue through an examination of daily fund discounts. Fund shares provide significant average returns in the three days following large positive and negative discount changes. This finding suggests that large short-term changes in the relation between price and underlying value are not quickly mitigated in the market for country fund shares. Following large negative discount changes, the returns on fund shares and NAVs are of greater magnitude when the S&P 500 Index declines by more than 1%. This is consistent with negative changes in U.S. market sentiment affecting both country fund prices and NAVs in the short-term. Simple trading strategies that take advantage of large discount changes around big changes in the U.S. market appear generally profitable even after adjusting for transaction costs. The limited liquidity in country fund shares suggests that it may be difficult to implement such strategies.10aFinance1 aHughen, Christopher1 aMathew, Prem1 aRagan, Kent, P. u/biblio/effects-market-inefficiencies-trading-strategies-country-funds-000534nas a2200133 4500008004100000245008800041210006900129260001800198653001200216100001700228700001800245700001600263856012100279 2005 eng d00aA NAV A DAY Keeps the Inefficiency Away? Fund Trading Strategies Using Daily Values0 aNAV A DAY Keeps the Inefficiency Away Fund Trading Strategies Us aChicagoc200510aFinance1 aMathew, Prem1 aHughen, Chris1 aRagan, Kent u/biblio/nav-day-keeps-inefficiency-away-fund-trading-strategies-using-daily-values-401363nas a2200169 4500008004100000245008900041210006900130260000900199300001200208490000700220520078300227653001201010100001901022700001701041700001401058856012101072 2005 eng d00aA NAV a Day Keeps the Inefficiency Away? Fund Trading Strategies using Daily Values0 aNAV a Day Keeps the Inefficiency Away Fund Trading Strategies us c2005 a213-2300 v143 aPrevious research documents the value of closed-end fund trading rules based on the size of theweekly discount. The growing number of closed-end funds that provide daily net asset value data
provides an opportunity to test the profitability of short-term fund trading strategies. We find that
short-term trading strategies that purchase fund shares after large negative discount changes are
profitable, on average, even when transaction costs are incorporated. However, strategies that short
sell fund shares after large positive discount changes do not produce an average profit. The limited
amount of trading in closed-end funds may make it difficult to achieve short-term profits from discount
fluctuations. © 2005 Academy of Financial Services. All rights reserved.
10aFinance1 aHughen, J., C.1 aMathew, Prem1 aRagan, K. u/biblio/nav-day-keeps-inefficiency-away-fund-trading-strategies-using-daily-values-200525nas a2200133 4500008004100000245008900041210006900130260000900199653001200208100001700220700001900237700001400256856012100270 2005 eng d00aA NAV a Day Keeps the Inefficiency Away? Fund Trading Strategies using Daily Values0 aNAV a Day Keeps the Inefficiency Away Fund Trading Strategies us c200510aFinance1 aMathew, Prem1 aHughen, J., C.1 aRagan, K. u/biblio/nav-day-keeps-inefficiency-away-fund-trading-strategies-using-daily-values-300444nas a2200109 4500008004100000245006700041210006600108260002200174653001200196100002400208856010200232 2005 eng d00aPost-Deregulation Restructuring of the Electric Power Industry0 aPostDeregulation Restructuring of the Electric Power Industry aNorfolk, VAc200510aFinance1 aBecker-Blease, John u/biblio/post-deregulation-restructuring-electric-power-industry-200324nas a2200109 4500008004100000245002800041210002400069260002200093653001200115100002400127856006300151 2005 eng d00aThe Value of Visibility0 aValue of Visibility aPullman, WAc200510aFinance1 aBecker-Blease, John u/biblio/value-visibility-200324nas a2200109 4500008004100000245002800041210002400069260002200093653001200115100002400127856006300151 2005 eng d00aThe Value of Visibility0 aValue of Visibility aChicago, ILc200510aFinance1 aBecker-Blease, John u/biblio/value-visibility-100449nas a2200145 4500008004100000245005000041210004900091260000900140300001000149490000600159653001200165653001700177100001800194856009100212 2004 eng d00aBank Influence, Firm Performance and Survival0 aBank Influence Firm Performance and Survival c2004 a65-710 v110aFinance10aOSU-Cascades1 aElston, Julie u/biblio/bank-influence-firm-performance-and-survival-000394nas a2200109 4500008004100000245005100041210005000092260002800142653001200170100001600182856008600198 2004 eng d00aCooling-off and magnet effects of price limits0 aCoolingoff and magnet effects of price limits aKaohsiung, Taiwanc200410aFinance1 aYang, Jimmy u/biblio/cooling-and-magnet-effects-price-limits-000462nas a2200121 4500008004100000245006200041210006100103260002600164653001200190653001700202100001800219856010300237 2004 eng d00aDividend Policy, Agency Costs and Institutional Ownership0 aDividend Policy Agency Costs and Institutional Ownership aBerlin, Germanyc200410aFinance10aOSU-Cascades1 aElston, Julie u/biblio/dividend-policy-agency-costs-and-institutional-ownership-000494nas a2200121 4500008004100000245007900041210006900120260002500189653001200214100001600226700001800242856011200260 2004 eng d00aThe effect of price limits: initial public offerings vs. seasoned equities0 aeffect of price limits initial public offerings vs seasoned equi aNew Orleans LAc200410aFinance1 aYang, Jimmy1 aKim, Yong, H. u/biblio/effect-price-limits-initial-public-offerings-vs-seasoned-equities-000459nas a2200121 4500008004100000245007300041210006900114260000900183653001200192100001700204700001500221856010100236 2004 eng d00aThe Effectiveness of VC Firm Involvement in the Japanese IPO Process0 aEffectiveness of VC Firm Involvement in the Japanese IPO Process c200410aFinance1 aMathew, Prem1 aHibara, N. u/biblio/effectiveness-vc-firm-involvement-japanese-ipo-process-001295nas a2200133 4500008004100000245007700041210006900118260000900187520079900196653001200995100002101007700001701028856011601045 2004 eng d00aGrandstanding and Venture Capital Firms in Newly Established IPO Markets0 aGrandstanding and Venture Capital Firms in Newly Established IPO c20043 aThe grandstanding theory posits that young venture capital firms (VCs) will seek to build their reputations by taking ventures public early. In this study, we examine this theory in the Japanese IPO market. With the introduction of MOTHERS and NASDAQ Japan in 1999 and 2000, respectively, with the explicit intent of catering to smaller and younger companies, we are able to examine the influence of these new markets on grandstanding and the IPO process. We find that young lead VC-backed ventures go public at a younger age than mature lead VC-backed ventures and that young lead VC-backed ventures are more underpriced. However, we do not find that young lead VCs have relatively lower equity stakes at IPO. This latter finding is most likely a result of the introduction of the new markets.10aFinance1 aHibara, Nobuhiko1 aMathew, Prem u/biblio/grandstanding-and-venture-capital-firms-newly-established-ipo-markets-001528nas a2200157 4500008004100000245009200041210006900133260000900202300001200211490000700223520096600230653001201196100002001208700002201228856012001250 2004 eng d00aThe Interaction between Opening Call Auctions and Ongoing Trade: Evidence from the NYSE0 aInteraction between Opening Call Auctions and Ongoing Trade Evid c2004 a341-3560 v133 aWe investigate the impact that the opening batch has on trading for the remainder of the day and what impact the prior day's trading has on the subsequent day's open. Traders have an interest in these trading impacts as their trades may cluster around opening and closing time periods. We find that the larger the volume in the opening batches, the greater the volume across the day. We also find the prior day's volume being positively related to the subsequent day's opening volume. Combined, these results suggest a continuing pattern of trade volume rolling from one day to the next. Additionally, we find that the spread in the continuous market can be partially attributed to the price change in the opening batch. We also find evidence of opening trade price reversals. Combined with the absence of price reversals following the opening trade, we conclude that the opening process may be more efficient at handling information than the continuous market.10aFinance1 aBrooks, Raymond1 aMoulton, Jonathan u/biblio/interaction-between-opening-call-auctions-and-ongoing-trade-evidence-nyse-000448nas a2200109 4500008004100000245006700041210006600108260002600174653001200200100002400212856010200236 2004 eng d00aPost-Deregulation Restructuring of the Electric Power Industry0 aPostDeregulation Restructuring of the Electric Power Industry aNew Orleans, LAc200410aFinance1 aBecker-Blease, John u/biblio/post-deregulation-restructuring-electric-power-industry-400441nas a2200109 4500008004100000245006700041210006600108260001900174653001200193100002400205856010200229 2004 eng d00aPost-Deregulation Restructuring of the Electric Power Industry0 aPostDeregulation Restructuring of the Electric Power Industry aBern, SWc200410aFinance1 aBecker-Blease, John u/biblio/post-deregulation-restructuring-electric-power-industry-301638nas a2200169 4500008004100000245010300041210006900144260000900213300001200222490000700234520104000241653001201281100001701293700001501310700001401325856012901339 2004 eng d00aA Re-examination of Information Flow in Financial Markets: The Impact of Reg FD and Decimalization0 aReexamination of Information Flow in Financial Markets The Impac c2004 a123-1470 v433 aWe investigate the impact of Regulation FD on information flow in the equities market. Our analysis indicates that information flow around earnings announcements, proxied by abnormal return volatility around those announcements, of U.S. stocks increased in the first effective quarter of Regulation FD (the fourth quarter of 2000). The information flow of ADRs, which are exempt from Regulation FD, does not change. This supports the inference that Regulation FD, not general market conditions, caused the increase in volatility, but Regulation FD did not have a persistent impact on information flow. A multivariate regression analysis shows that our results are robust to controls that include decimalization, which was implemented concurrently with Regulation FD and has reduced return volatility. Our comparison of return volatilities across firm size indicates that small firms temporarily had larger return volatilities, thus Regulation FD only temporarily had a differential impact on the information environment of small firms.10aFinance1 aMathew, Prem1 aHughen, C.1 aRagan, K. u/biblio/re-examination-information-flow-financial-markets-impact-reg-fd-and-decimalization-000534nas a2200121 4500008004100000245010200041210006900143260002300212653001200235653001700247100001800264856013000282 2004 eng d00aShareholder Protection and the Cost of Capital: Empirical Evidence from German and Italian Firms0 aShareholder Protection and the Cost of Capital Empirical Evidenc aJena Germanyc200410aFinance10aOSU-Cascades1 aElston, Julie u/biblio/shareholder-protection-and-cost-capital-empirical-evidence-german-and-italian-firms-000548nas a2200121 4500008004100000245010300041210006900144260002900213653001200242653001700254100001800271856013700289 2004 eng d00aValuation Differences under 3 Accounting Standards: Empirical Evidence from Germany's Neuer Markt0 aValuation Differences under 3 Accounting Standards Empirical Evi aFrankfurt, Germanyc200410aFinance10aOSU-Cascades1 aElston, Julie u/biblio/valuation-differences-under-3-accounting-standards-empirical-evidence-germanys-neuer-markt-100543nas a2200121 4500008004100000245010300041210006900144260002400213653001200237653001700249100001800266856013700284 2004 eng d00aValuation Differences under 3 Accounting Standards: Empirical Evidence from Germany's Neuer Markt0 aValuation Differences under 3 Accounting Standards Empirical Evi aJena, Germanyc200410aFinance10aOSU-Cascades1 aElston, Julie u/biblio/valuation-differences-under-3-accounting-standards-empirical-evidence-germanys-neuer-markt-201369nas a2200157 4500008004100000245007500041210006900116260000900185300001200194490000700206520084200213653001201055100001801067700001601085856011001101 2004 eng d00aWhat makes circuit breakers attractive to financial markets? A survey0 aWhat makes circuit breakers attractive to financial markets A su c2004 a109-1460 v133 aAfter the stock market crash of October 1987, the Brady Report (1988) and several academic researchers suggested the imposition of "circuit breakers" to prevent the market from fluctuating excessively. Most financial markets in the world have imposed circuit breaker systems, in the form of price limits and trading halts, in an attempt to reduce excessive market volatility. Similar to any other regulations, circuit breakers have proponents and opponents. In this survey, we analyze the benefits and costs of each type of circuit breaker, provide existing theoretical models and predictions related to each type of circuit breaker, and present findings from empirical studies to justify or disqualify the existence of circuit breakers. In addition, we synthesize existing studies and offer directions for further research in this area.10aFinance1 aKim, Yong, H.1 aYang, Jimmy u/biblio/what-makes-circuit-breakers-attractive-financial-markets-survey-001360nas a2200169 4500008004100000245008500041210006900126260000900195300001200204490000700216520078200223653001201005100001701017700002001034700001701054856011901071 2004 eng d00aWhen-Issued Shares, Small Trades and the Variance of Returns around Stock Splits0 aWhenIssued Shares Small Trades and the Variance of Returns aroun c2004 a415-4330 v273 aThe increases in volatility after stock splits have long puzzled researchers. The usual suspects of discreteness and bid-ask spread do not provide a complete explanation. We provide new clues to solve this mystery by examining the trading of when-issued shares that are available before the split. When-issued trading permits noise traders to compete with a more homogenous set of traders, decreasing the volatility of the stock before the split. Following the split, these noise traders reunite in one market and volatility increases. Thus, the higher volatility after the ex date of a stock split is a function of the introduction of when-issued trading, the new lower price level after the split date, and the increased activity of small-volume traders around a stock split.10aFinance1 aAngel, James1 aBrooks, Raymond1 aMathew, Prem u/biblio/when-issued-shares-small-trades-and-variance-returns-around-stock-splits-000472nas a2200121 4500008004100000245007300041210006900114260000900183653001200192653001700204100001800221856011100239 2003 eng d00aDividend Policy, Agency Costs and Institutional Ownership in Germany0 aDividend Policy Agency Costs and Institutional Ownership in Germ c200310aFinance10aOSU-Cascades1 aElston, Julie u/biblio/dividend-policy-agency-costs-and-institutional-ownership-germany-200482nas a2200121 4500008004100000245007300041210006900114260001900183653001200202653001700214100001800231856011100249 2003 eng d00aDividend Policy, Agency Costs and Institutional Ownership in Germany0 aDividend Policy Agency Costs and Institutional Ownership in Germ aTampa FLc200310aFinance10aOSU-Cascades1 aElston, Julie u/biblio/dividend-policy-agency-costs-and-institutional-ownership-germany-300409nas a2200109 4500008004100000245005600041210005400097260002100151653001200172100002400184856009100208 2003 eng d00aDoes Inclusion in a Smaller S&P Index Create Value?0 aDoes Inclusion in a Smaller SP Index Create Value aDenver, COc200310aFinance1 aBecker-Blease, John u/biblio/does-inclusion-smaller-sp-index-create-value-300418nas a2200109 4500008004100000245005600041210005400097260003000151653001200181100002400193856009100217 2003 eng d00aDoes Inclusion in a Smaller S&P Index Create Value?0 aDoes Inclusion in a Smaller SP Index Create Value aQuebec City, Quebecc200310aFinance1 aBecker-Blease, John u/biblio/does-inclusion-smaller-sp-index-create-value-400984nas a2200169 4500008004100000245005500041210005500096260000900151300001400160490000700174520047200181653001200653653001700665100001800682700002000700856009400720 2003 eng d00aExecutive Compensation and Agency Costs in Germany0 aExecutive Compensation and Agency Costs in Germany c2003 a1391-14100 v273 aWith the growth of international mergers like DaimlerChrysler, interest in executive compensation practices abroad, particularly in Germany, has increased. Using unique data sources for Germany, we find that similar to US firms, German firms also have agency problems caused by the separation of ownership from control, with ownership dispersion leading to higher compensation. In addition, there is evidence that bank influence has a negative impact on compensation.10aFinance10aOSU-Cascades1 aElston, Julie1 aGoldberg, Larry u/biblio/executive-compensation-and-agency-costs-germany-200496nas a2200121 4500008004100000245008000041210006900121260002400190653001200214653001700226100001800243856011300261 2003 eng d00aFinance, Profitability and Control: An Evaluation of German Bank Influence0 aFinance Profitability and Control An Evaluation of German Bank I aSan Diego, CAc200310aFinance10aOSU-Cascades1 aElston, Julie u/biblio/finance-profitability-and-control-evaluation-german-bank-influence-001344nas a2200193 4500008004100000245012800041210006900169260000900238300001200247490000700259520064000266653001200906653001700918100001800935700001800953700002200971700001900993856013801012 2003 eng d00aFinancial Factors and Investment in Belgium, France, Germany, and the United Kingdom: A Comparison Using Company Panel Data0 aFinancial Factors and Investment in Belgium France Germany and t c2003 a153-1650 v853 aWe construct company panel data sets for manufacturing firms in Belgium, France, Germany, and the United Kingdom, covering the period 1978-1989. These data sets are used to estimate empirical investment equations, and to investigate the role played by financial factors in each country. A robust finding is that cash flow and profits terms appear to be both statistically and quantitatively more significant in the United Kingdom than in the three continental European countries. This is consistent with the suggestion that financial constraints on investment may be relatively severe in the more market-oriented U.K. financial system.10aFinance10aOSU-Cascades1 aBond, Stephen1 aElston, Julie1 aMairesse, Jacques1 aMulkay, Benoit u/biblio/financial-factors-and-investment-belgium-france-germany-and-united-kingdom-comparison-using-000499nas a2200121 4500008004100000245008400041210006900125260002200194653001200216653001700228100001800245856011400263 2003 eng d00aFinancing Technology Growth in the 21st Century: Can Policy Make a Difference?0 aFinancing Technology Growth in the 21st Century Can Policy Make aFairfax, VAc200310aFinance10aOSU-Cascades1 aElston, Julie u/biblio/financing-technology-growth-21st-century-can-policy-make-difference-000485nas a2200121 4500008004100000245007600041210006900117260002400186653001200210653001700222100001800239856010600257 2003 eng d00aFinancing Technology Growth in the 21st Century: Germany in Transition0 aFinancing Technology Growth in the 21st Century Germany in Trans aFullerton, CAc200310aFinance10aOSU-Cascades1 aElston, Julie u/biblio/financing-technology-growth-21st-century-germany-transition-200482nas a2200121 4500008004100000245007600041210006900117260002100186653001200207653001700219100001800236856010600254 2003 eng d00aFinancing Technology Growth in the 21st Century: Germany in Transition0 aFinancing Technology Growth in the 21st Century Germany in Trans aAlbany, NYc200310aFinance10aOSU-Cascades1 aElston, Julie u/biblio/financing-technology-growth-21st-century-germany-transition-300474nas a2200121 4500008004100000245007600041210006900117260001300186653001200199653001700211100001800228856010600246 2003 eng d00aFinancing Technology Growth in the 21st Century: Germany in Transition0 aFinancing Technology Growth in the 21st Century Germany in Trans aTXc200310aFinance10aOSU-Cascades1 aElston, Julie u/biblio/financing-technology-growth-21st-century-germany-transition-401086nas a2200169 4500008004100000245005900041210005900100260000900159300001200168490000700180520057500187653001200762100002000774700001600794700001200810856009400822 2003 eng d00aHow the Equity Market Responds to Unanticipated Events0 aHow the Equity Market Responds to Unanticipated Events c2003 a109-1330 v763 aWe examine the market reaction of prices, volume, spreads, and trading location when firms experience events that are totally unanticipated by the equity market in terms of both timing and content. We find that the response time is longer than previous studies have reported. Selling pressure, wider spreads, and higher volume remain significant for over an hour. We also find an immediate price reaction for overnight events; however, the market takes longer to react to events that occur when it is open. These findings may shed light on the efficacy of trading halts.10aFinance1 aBrooks, Raymond1 aPatel, Ajay1 aSu, Tie u/biblio/how-equity-market-responds-unanticipated-events-000373nas a2200121 4500008004100000245003400041210003400075260002000109653001200129100001600141700001800157856007600175 2003 eng d00aPrice limits and overreaction0 aPrice limits and overreaction aDenver COc200310aFinance1 aYang, Jimmy1 aKim, Yong, H. u/biblio/price-limits-and-overreaction-000535nas a2200133 4500008004100000245008600041210006900127260002000196653001200216100001600228700001800244700001600262856012300278 2003 eng d00aThe relative performance between price limits and trading halts: Spanish evidence0 arelative performance between price limits and trading halts Span aDenver COc200310aFinance1 aYang, Jimmy1 aKim, Yong, H.1 aYague, Jose u/biblio/relative-performance-between-price-limits-and-trading-halts-spanish-evidence-200539nas a2200133 4500008004100000245008600041210006900127260002400196653001200220100001600232700001800248700001600266856012300282 2003 eng d00aThe relative performance between price limits and trading halts: Spanish evidence0 arelative performance between price limits and trading halts Span aCorvallis, ORc200310aFinance1 aYang, Jimmy1 aKim, Yong, H.1 aYague, Jose u/biblio/relative-performance-between-price-limits-and-trading-halts-spanish-evidence-300398nas a2200109 4500008004100000245004900041210004900090260002200139653001200161100002400173856009100197 2003 eng d00aStock Liquidity and Investment Opportunities0 aStock Liquidity and Investment Opportunities aPullman, WAc200310aFinance1 aBecker-Blease, John u/biblio/stock-liquidity-and-investment-opportunities-400401nas a2200109 4500008004100000245004900041210004900090260002500139653001200164100002400176856009100200 2003 eng d00aStock Liquidity and Investment Opportunities0 aStock Liquidity and Investment Opportunities aCharleston, SCc200310aFinance1 aBecker-Blease, John u/biblio/stock-liquidity-and-investment-opportunities-300501nas a2200109 4500008004100000245009900041210006900140260002000209653001200229100002000241856013000261 2003 eng d00aTeaching an Old Dog New Tricks: Using the Dividend Growth Model in Financial Planning Problems0 aTeaching an Old Dog New Tricks Using the Dividend Growth Model i aSt. Louisc200310aFinance1 aBrooks, Raymond u/biblio/teaching-old-dog-new-tricks-using-dividend-growth-model-financial-planning-problems-000301nas a2200121 4500008004100000245001300041210001300054260000900067653001200076653001700088100001800105856005600123 2003 eng d00aUntitled0 aUntitled c200310aFinance10aOSU-Cascades1 aElston, Julie u/biblio/untitled-1800401nas a2200109 4500008004100000245005900041210005600100260000900156653001200165100002200177856009200199 2002 eng d00a"California Electricity Futures: The NYMEX Experience"0 aCalifornia Electricity Futures The NYMEX Experience c200210aFinance1 aMoulton, Jonathan u/biblio/california-electricity-futures-nymex-experience00480nas a2200121 4500008004100000245007000041210006800111260002500179653001200204653001700216100001800233856010700251 2002 eng d00aChanging Policies and New Economic Growth: Germany in Transition0 aChanging Policies and New Economic Growth Germany in Transition aBloomington INc200210aFinance10aOSU-Cascades1 aElston, Julie u/biblio/changing-policies-and-new-economic-growth-germany-transition-100475nas a2200121 4500008004100000245007000041210006800111260002000179653001200199653001700211100001800228856010700246 2002 eng d00aChanging Policies and New Economic Growth: Germany in Transition0 aChanging Policies and New Economic Growth Germany in Transition aMalibu CAc200210aFinance10aOSU-Cascades1 aElston, Julie u/biblio/changing-policies-and-new-economic-growth-germany-transition-200338nas a2200121 4500008004100000245002500041210002000066260002100086653001200107653001700119100001800136856006200154 2002 eng d00aThe Digital Economy?0 aDigital Economy aOrlando FLc200210aFinance10aOSU-Cascades1 aElston, Julie u/biblio/digital-economy-001273nas a2200145 4500008004100000245008200041210006900123260000900192300001200201490000700213520076100220653001200981100001700993856011701010 2002 eng d00aLong-Horizon Seasoned Equity Performance in the Pacific Rim Financial Markets0 aLongHorizon Seasoned Equity Performance in the Pacific Rim Finan c2002 a317-3330 v113 aPrevious studies of firms that issue seasoned equity in the US and Japan have found that these firms significantly underperform over the long-run subsequent to the issue. I offer further evidence of this by examining Japanese seasoned offerings (SEOs) from 1975 to 1992. I find similar results for firms issuing seasoned equity in Hong Kong. However, I also find that Korean SEOs generate insignificant abnormal returns over a 36-month period following the issue. These results suggest that the asymmetric information argument offered for the US and Japanese markets do not always hold, especially in markets where the regulatory and market structures vary greatly. Cross-sectional results suggest that younger firms tend to perform worse than older firms.10aFinance1 aMathew, Prem u/biblio/long-horizon-seasoned-equity-performance-pacific-rim-financial-markets-000545nas a2200121 4500008004100000245011000041210006900151260002200220653001200242653001700254100001800271856013400289 2002 eng d00aA Preliminary Examination of the Relationship Between Firm Size, Growth, and Liquidity in the Neuer Markt0 aPreliminary Examination of the Relationship Between Firm Size Gr aAtlanta, GAc200210aFinance10aOSU-Cascades1 aElston, Julie u/biblio/preliminary-examination-relationship-between-firm-size-growth-and-liquidity-neuer-markt-200544nas a2200121 4500008004100000245011000041210006900151260002100220653001200241653001700253100001800270856013400288 2002 eng d00aA Preliminary Examination of the Relationship Between Firm Size, Growth, and Liquidity in the Neuer Markt0 aPreliminary Examination of the Relationship Between Firm Size Gr aSeattle WAc200210aFinance10aOSU-Cascades1 aElston, Julie u/biblio/preliminary-examination-relationship-between-firm-size-growth-and-liquidity-neuer-markt-100524nas a2200133 4500008004100000245008600041210006900127260000900196653001200205100001600217700001800233700001600251856012300267 2002 eng d00aThe relative performance between price limits and trading halts: Spanish evidence0 arelative performance between price limits and trading halts Span c200210aFinance1 aYang, Jimmy1 aKim, Yong, H.1 aYague, Jose u/biblio/relative-performance-between-price-limits-and-trading-halts-spanish-evidence-400402nas a2200109 4500008004100000245004900041210004900090260002600139653001200165100002400177856009100201 2002 eng d00aStock Liquidity and Investment Opportunities0 aStock Liquidity and Investment Opportunities aBabson Park, MAc200210aFinance1 aBecker-Blease, John u/biblio/stock-liquidity-and-investment-opportunities-500402nas a2200109 4500008004100000245004900041210004900090260002600139653001200165100002400177856009100201 2002 eng d00aStock Liquidity and Investment Opportunities0 aStock Liquidity and Investment Opportunities aSan Antonio, TXc200210aFinance1 aBecker-Blease, John u/biblio/stock-liquidity-and-investment-opportunities-600383nas a2200121 4500008004100000245003800041210003600079260002500115653001200140653001700152100001800169856007400187 2002 eng d00aWhat's New About the New Economy?0 aWhats New About the New Economy aWinter Park FLc200210aFinance10aOSU-Cascades1 aElston, Julie u/biblio/whats-new-about-new-economy-101719nas a2200169 4500008004100000245007100041210006900112260000900181300001200190490000700202520116400209653001201373653001701385100002201402700001801424856010701442 2001 eng d00aBank-firm relationships, financing and firm performance in Germany0 aBankfirm relationships financing and firm performance in Germany c2001 a225-2320 v723 aClose bank”firm relationships that characterize the financial systems in Germany and Japan are often credited for reducing agency costs and increasing access to capital, thus improving the performance of firms. Critics of these banking systems cite the alternative possibility that conflicts of interests may also arise from both the banks' multiple roles with the firm, and the opportunity the banks have to use private information to shift risk or to otherwise participate in rent-seeking activities. We extend the empirical literature by systematically investigating the impact of bank-influence on the financing choices and performance of the firm. We find that bank-influenced firms in Germany do benefit from increased access to capital. There is, however, no evidence to support the hypothesis of either higher profitability or growth for bank-influenced firms. Results suggest that the interest payments to debt ratio is significantly higher for bank-influenced firms, which supports the hypothesis that German universal banks may engage in rent-seeking activities and provides evidence of a conflicting interests between creditors and shareholders.10aFinance10aOSU-Cascades1 aAgarwal, Rajshree1 aElston, Julie u/biblio/bank-firm-relationships-financing-and-firm-performance-germany01309nas a2200169 4500008004100000245011400041210006900155260000900224300000900233490000700242520068700249653001200936653001700948100002500965700001800990856013101008 2001 eng d00aDoes firm size matter? Evidence on the impact of liquidity constraints on firm investment behavior in Germany0 aDoes firm size matter Evidence on the impact of liquidity constr c2001 a1-170 v203 aThis paper examines the link between liquidity constraints and investment behavior for German firms of different sizes from 1970 to 1986. Results indicate that medium sized firms appear to be more liquidity constrained in their investment behavior than either the smallest or largest firms in the study, suggesting that the unique German infrastructure designed to assist the small firm has indeed succeeded in alleviating, to some degree, such liquidity constraints. Findings also support the hypothesis that the emerging competition and internationalism which characterized the German financial markets in the 1980s, have been improving access to capital for some groups of firms.10aFinance10aOSU-Cascades1 aAudretsch, David, B.1 aElston, Julie u/biblio/does-firm-size-matter-evidence-impact-liquidity-constraints-firm-investment-behavior-000471nas a2200133 4500008004100000245005500041210005500096260002500151653001200176653001700188100001800205700002000223856009400243 2001 eng d00aExecutive Compensation and Agency Costs in Germany0 aExecutive Compensation and Agency Costs in Germany aDublin Irelandc200110aFinance10aOSU-Cascades1 aElston, Julie1 aGoldberg, Larry u/biblio/executive-compensation-and-agency-costs-germany-300369nas a2200121 4500008004100000245003200041210003200073260002400105653001200129653001700141100001800158856007100176 2001 eng d00aGrowth of Neuer Markt Firms0 aGrowth of Neuer Markt Firms aWashington DCc200110aFinance10aOSU-Cascades1 aElston, Julie u/biblio/growth-neuer-markt-firms-000523nas a2200121 4500008004100000245010000041210006900141260002300210653001200233100001600245700001800261856012200279 2001 eng d00aThe impact of price limits on initial public offerings: evidence from the Taiwan Stock Exchange0 aimpact of price limits on initial public offerings evidence from aCleveland OHc200110aFinance1 aYang, Jimmy1 aKim, Yong, H. u/biblio/impact-price-limits-initial-public-offerings-evidence-taiwan-stock-exchange-400526nas a2200121 4500008004100000245010000041210006900141260002600210653001200236100001600248700001800264856012200282 2001 eng d00aThe impact of price limits on initial public offerings: evidence from the Taiwan Stock Exchange0 aimpact of price limits on initial public offerings evidence from aToronto, Canadac200110aFinance1 aYang, Jimmy1 aKim, Yong, H. u/biblio/impact-price-limits-initial-public-offerings-evidence-taiwan-stock-exchange-200509nas a2200121 4500008004100000245010000041210006900141260000900210653001200219100001600231700001800247856012200265 2001 eng d00aThe impact of price limits on initial public offerings: evidence from the Taiwan Stock Exchange0 aimpact of price limits on initial public offerings evidence from c200110aFinance1 aYang, Jimmy1 aKim, Yong, H. u/biblio/impact-price-limits-initial-public-offerings-evidence-taiwan-stock-exchange-300416nas a2200121 4500008004100000245004900041210004300090260002900133653001200162653001700174100001800191856008500209 2001 eng d00aThe Neuer Markt: Real and Financial Factors,0 aNeuer Markt Real and Financial Factors aFrankfurt, Germanyc200110aFinance10aOSU-Cascades1 aElston, Julie u/biblio/neuer-markt-real-and-financial-factors-001320nas a2200169 4500008004100000245009200041210006900133260000900202300001200211490000700223520073100230653001200961100002000973700001700993700002001010856012001030 2001 eng d00aThe Performance of Firms Before and After They Adopt Accounting-Based Performance Plans0 aPerformance of Firms Before and After They Adopt AccountingBased c2001 a205-2220 v413 aThis paper examines the long-run performance of firms before and after they adopt accounting-based performance plans. We test if the change in compensation policy is a response to a prior performance problem or is a signal to the market that firm performance will improve over current performance levels. Our findings are consistent with the signaling hypothesis. Stock prices increase at the announcement of the adoption of a performance plan apparently signaling previously private information regarding improved future performance. A related benefit of adoption may well be a better incentive-alignment contract for managers and shareholders but the strongest evidence points to a credible disclosure of future performance.10aFinance1 aBrooks, Raymond1 aMay, Don, O.1 aMishra, Chandra u/biblio/performance-firms-and-after-they-adopt-accounting-based-performance-plans-000706nas a2200157 4500008004100000245005800041210005800099260000900157300001000166520021400176653001500390653001200405100001700417700001700434856009700451 2001 eng d00aUsing Decision Trees to Manage Capital Budgeting Risk0 aUsing Decision Trees to Manage Capital Budgeting Risk c2001 a14-173 aForest products companies are particularly suited to using decision trees for capital budgeting because they must take environmental and social responsibilities into account as they pursue bottom line results.10aAccounting10aFinance1 aBailes, Jack1 aNielsen, Jim u/biblio/using-decision-trees-manage-capital-budgeting-risk-000381nas a2200121 4500008004100000245003700041210003600078260002400114653001200138653001700150100001800167856007400185 2001 eng d00aWhat's New About the New Economy0 aWhats New About the New Economy aWashington DCc200110aFinance10aOSU-Cascades1 aElston, Julie u/biblio/whats-new-about-new-economy-200478nas a2200133 4500008004100000245003900041210003900080260009500119653001500214653001200229653000800241100002000249856007500269 2000 eng d00aFinance for Sourcing Professionals0 aFinance for Sourcing Professionals aH-P sites in Corvallis, 鶹ý; Dublin Ireland; Aguadilla Puerto Rico; and Singaporec200010aAccounting10aFinance10aMBA1 aJohnson, Robert u/biblio/finance-sourcing-professionals01300nas a2200157 4500008004100000245010400041210006900145260000900214300001000223490000600233520072500239653001200964100002000976700001600996856013001012 2000 eng d00aInformation Conveyed by Seasoned Security Offerings: Evidence from Components of the Bid-Ask Spread0 aInformation Conveyed by Seasoned Security Offerings Evidence fro c2000 a83-990 v93 aWe examine the relationship between the degree of informational asymmetry surrounding a firm and the equity market's reaction to a firm's announcement to sell seasoned securities. We use the adverse-selection component of the bid”ask spread as a proxy for the informational asymmetry of a firm. For equity offers, we find that the greater the change in information asymmetry at announcement, the greater the decline in wealth. In addition, the largest decline in wealth for seasoned equity announcements is observed for firms with the largest level of pre-event adverse-selection components. For debt offers, the wealth decline is only significant for firms with the largest pre-event levels of asymmetric information.10aFinance1 aBrooks, Raymond1 aPatel, Ajay u/biblio/information-conveyed-seasoned-security-offerings-evidence-components-bid-ask-spread-000544nas a2200133 4500008004100000245010400041210006900145260000900214653001500223653001200238653000800250100002000258856013200278 2000 eng d00aInstructional and presentation materials on Corporate Governance and Financial Performance Measures0 aInstructional and presentation materials on Corporate Governance c200010aAccounting10aFinance10aMBA1 aJohnson, Robert u/biblio/instructional-and-presentation-materials-corporate-governance-and-financial-performance00512nas a2200109 4500008004100000245011200041210006900153260000900222653001200231100002200243856013700265 2000 eng d00aThe Interaction between Opening Call Auctions and Ongoing Trade: Evidence from the NYSE and AMEX Exchanges0 aInteraction between Opening Call Auctions and Ongoing Trade Evid c200010aFinance1 aMoulton, Jonathan u/biblio/interaction-between-opening-call-auctions-and-ongoing-trade-evidence-nyse-and-amex-exchanges00539nas a2200121 4500008004100000245010100041210006900142260002300211653001200234100002000246700002200266856012900288 2000 eng d00aThe Interaction between Opening Call Auctions and Ongoing Trade: Evidence from the NYSE and AMEX0 aInteraction between Opening Call Auctions and Ongoing Trade Evid aMyrtle Beachc200010aFinance1 aBrooks, Raymond1 aMoulton, Jonathan u/biblio/interaction-between-opening-call-auctions-and-ongoing-trade-evidence-nyse-and-amex-100499nas a2200145 4500008004100000245006700041210006400108260000900172300001000181490000600191653001200197100002000209700002000229856010400249 2000 eng d00aA Statistical Assessment of Accounting-Based Performance Plans0 aStatistical Assessment of AccountingBased Performance Plans c2000 a68-730 v910aFinance1 aBrooks, Raymond1 aMishra, Chandra u/biblio/statistical-assessment-accounting-based-performance-plans-000407nas a2200121 4500008004100000245004400041210004400085260002300129653001200152653001700164100001800181856008600199 1999 eng d00aExecutive Compensation and Agency Costs0 aExecutive Compensation and Agency Costs aSan Diego CAc199910aFinance10aOSU-Cascades1 aElston, Julie u/biblio/executive-compensation-and-agency-costs-000387nas a2200121 4500008004100000245003700041210003700078260002700115653001200142653001700154100001800171856007600189 1999 eng d00aFunding Gaps in Germany Industry0 aFunding Gaps in Germany Industry aWarwick, Englandc199910aFinance10aOSU-Cascades1 aElston, Julie u/biblio/funding-gaps-germany-industry-000538nas a2200121 4500008004100000245010100041210006900142260002200211653001200233100002000245700002200265856012900287 1999 eng d00aThe Interaction between Opening Call Auctions and Ongoing Trade: Evidence from the NYSE and AMEX0 aInteraction between Opening Call Auctions and Ongoing Trade Evid aOrlando, FLc199910aFinance1 aBrooks, Raymond1 aMoulton, Jonathan u/biblio/interaction-between-opening-call-auctions-and-ongoing-trade-evidence-nyse-and-amex-201480nas a2200169 4500008004100000245009100041210006900132260000900201300001200210490000700222520089200229653001201121100002001133700001701153700001201170856012801182 1999 eng d00aLarge Price Movements and Short-Lived Changes in Spreads, Volume, and Selling Pressure0 aLarge Price Movements and ShortLived Changes in Spreads Volume a c1999 a303-3160 v393 aIn this paper we examine changes in dollar and relative bid-ask spreads of stocks following large price movements. We investigate large increases and decreases separately and link our results to current market microstructure theories on trading activities and spreads. We also look at changes in volume and selling pressure to interpret the changes in trading activity. Our results show that the market reacts differently to price increases and decreases. For large price decreases, trading increases on the sell side even when spreads have increased. For large price increases, trading increases on the buy side during a period of higher spreads. However, the increases in dollar spreads and price pressure are most pronounced at the end of trading day. Our results are consistent with microstructure models that link trading activities and costs to the level of asymmetric information.10aFinance1 aBrooks, Raymond1 aPark, Jinwoo1 aSu, Tie u/biblio/large-price-movements-and-short-lived-changes-spreads-volume-and-selling-pressure-001235nas a2200181 4500008004100000245008700041210006900128260000900197300001200206490000700218520063100225653001200856653001700868100001800885710001800903710001800921856011400939 1999 eng d00aMarket Linkages Between the US and Japan: An Application to the Fisheries Industry0 aMarket Linkages Between the US and Japan An Application to the F c1999 a517-5300 v113 aRecent trends in globalization of Pacific Basin commodity markets raises important questions concerning the nature of market integration and price linkages. This paper examines this issue by testing for price linkages between the United States and Japan for two species whose exports from the U.S. to Japan have risen considerably over the past decade. Empirical results indicate segmentation of price linkages for sablefish but probable price linkages for some thornyhead markets. Findings suggest that markets for these species may be less sensitive to price changes in Japan than would be expected based on commodity flows.10aFinance10aOSU-Cascades1 aElston, Julie1 aEmptyAuthNode1 aEmptyAuthNode u/biblio/market-linkages-between-us-and-japan-application-fisheries-industry-000543nas a2200133 4500008004100000245008600041210006900127260002300196653001200219100002000231700002100251700001700272856012000289 1999 eng d00aWhen-Issued Shares, Small Traders and the Variance of Returns around Stock Splits0 aWhenIssued Shares Small Traders and the Variance of Returns arou aNew York, NYc199910aFinance1 aBrooks, Raymond1 aAngel, James, J.1 aMathew, Prem u/biblio/when-issued-shares-small-traders-and-variance-returns-around-stock-splits-000508nas a2200145 4500008004100000245006900041210006700110260000900177300001000186490000600196653001200202100002000214700002400234856010400258 1997 eng d00aCEO Presentations to Financial Analysts: Much Ado About Nothing?0 aCEO Presentations to Financial Analysts Much Ado About Nothing c1997 a19-280 v710aFinance1 aBrooks, Raymond1 aJohnson, Marilyn, F u/biblio/ceo-presentations-financial-analysts-much-ado-about-nothing01429nas a2200169 4500008004100000245003700041210003700078260000900115300001100124490000600135520097500141653001201116653001701128100002101145700001801166856007501184 1997 eng d00aFinancing the German Mittelstand0 aFinancing the German Mittelstand c1997 a97-1100 v93 aThis paper describes how the German Mittelstand, or small- and medium-sized enterprises, are financed in Germany. The role of the German Mittelstand, both in a static and in a dynamic framework, is described and contrasted with that of the same size group in other leading industrialised countries. We find that in general, the Mittelstand has played a mmore important role in Germany than in other industrialised nations, such as the United States or the United Kingdom. The traditional success of the German Mittelstand is partly attributable to a system of finance that is richly layered by complementary institutions designed to meet the financial needs of both large and smaller enterprises. However, we find evidence that even under the German system of finance liquidity constraints exist and are greater for smaller firms. The German system of finance moreover seems particularly deficient in the channeling of funds to new firm startups in the newer industries.10aFinance10aOSU-Cascades1 aAudretsch, David1 aElston, Julie u/biblio/financing-german-mittelstand-000532nas a2200145 4500008004100000245008700041210006900128260000900197300001200206490000700218653001200225100002000237700001800257856011100275 1997 eng d00aThe Individual Investor and the Weekend Effect: A Reexamination with Intraday Data0 aIndividual Investor and the Weekend Effect A Reexamination with c1997 a725-7370 v3710aFinance1 aBrooks, Raymond1 aKim, Hongshik u/biblio/individual-investor-and-weekend-effect-reexamination-intraday-data00516nas a2200145 4500008004100000245008100041210006900122260000900191300001200200490000700212653001200219100002000231700001200251856010700263 1997 eng d00aA Simple Cost Reduction Strategy for Liquidity Traders: Trade at the Opening0 aSimple Cost Reduction Strategy for Liquidity Traders Trade at th c1997 a525-5400 v3210aFinance1 aBrooks, Raymond1 aSu, Tie u/biblio/simple-cost-reduction-strategy-liquidity-traders-trade-opening00492nas a2200133 4500008004100000245007700041210006900118260000900187300001200196490000700208653001200215100002000227856011100247 1996 eng d00aChanges in Asymmetric Information at Earnings and Dividend Announcements0 aChanges in Asymmetric Information at Earnings and Dividend Annou c1996 a359-3780 v2310aFinance1 aBrooks, Raymond u/biblio/changes-asymmetric-information-earnings-and-dividend-announcements01197nas a2200157 4500008004100000245007500041210006900116260000900185300001200194490000700206520066800213653001200881653001700893100001800910856011100928 1996 eng d00aDividend policy and investment: Theory and evidence from US panel data0 aDividend policy and investment Theory and evidence from US panel c1996 a267-2750 v173 aThis paper examines the importance of dividend policy and liquidity constraints in the context of the firm's investment behaviour. While early financial literature has argued that dividend policy should be independent of firm investment decisions, recent studies indicate that linkages are probable in a world of imperfect capital markets. This study develops an alternative Q specification which incorporates the actual dividend payment of the firm in order to test the hypothesis of independence. Empirical results suggest that after controlling for the firm's dividend payment, liquidity constraints remain an important determinant of firm investment behavior.10aFinance10aOSU-Cascades1 aElston, Julie u/biblio/dividend-policy-and-investment-theory-and-evidence-us-panel-data-000493nas a2200121 4500008004100000245007900041210006900120260002200189653001200211653001700223100001800240856011300258 1996 eng d00aFinance, Control and Profitability: An Evaluation of German Bank Influence0 aFinance Control and Profitability An Evaluation of German Bank I aPasadena CAc199610aFinance10aOSU-Cascades1 aElston, Julie u/biblio/finance-control-and-profitability-evaluation-german-bank-influence-300498nas a2200121 4500008004100000245007900041210006900120260002700189653001200216653001700228100001800245856011300263 1996 eng d00aFinance, Control and Profitability: An Evaluation of German Bank Influence0 aFinance Control and Profitability An Evaluation of German Bank I aSan Francisco CAc199610aFinance10aOSU-Cascades1 aElston, Julie u/biblio/finance-control-and-profitability-evaluation-german-bank-influence-400477nas a2200157 4500008004100000245004700041210004700088260000900135300001200144490000600156653001200162653001700174100002100191700001800212856008900230 1996 eng d00aLe Financement de la Mittelstand Allemande0 aLe Financement de la Mittelstand Allemande c1996 a121-1470 v810aFinance10aOSU-Cascades1 aAudretsch, David1 aElston, Julie u/biblio/le-financement-de-la-mittelstand-allemande-000586nas a2200145 4500008004100000245012000041210006900161260000900230300001200239490000700251653001200258100002000270700001700290856013300307 1996 eng d00aPerformance of Stoll's Spread Component Estimator: Evidence from Simultaions, Time-Series, and Cross-Sectional Data0 aPerformance of Stolls Spread Component Estimator Evidence from S c1996 a459-4760 v2910aFinance1 aBrooks, Raymond1 aMasson, Jean u/biblio/performance-stolls-spread-component-estimator-evidence-simultaions-time-series-and-cross00480nas a2200145 4500008004100000245006200041210006000103260000900163300001200172490000600184653001200190653001700202100001800219856009700237 1995 eng d00aBanks, Finance and Investment in German: A Review Article0 aBanks Finance and Investment in German A Review Article c1995 a475-4790 v710aFinance10aOSU-Cascades1 aElston, Julie u/biblio/banks-finance-and-investment-german-review-article-000487nas a2200145 4500008004100000245006600041210006300107260000900170300001200179490000700191653001200198100002000210700002200230856008900252 1995 eng d00aA Bias in Closing Prices: The Case of the When Issued Anomaly0 aBias in Closing Prices The Case of the When Issued Anomaly c1995 a441-4540 v3010aFinance1 aBrooks, Raymond1 aChiou, Shur-Nuann u/biblio/bias-closing-prices-case-when-issued-anomaly00510nas a2200157 4500008004100000245006100041210006100102260000900163300000900172490000600181653001200187653001700199100001800216700001800234856010000252 1994 eng d00aBank Affiliations and Firm Capital Investment in Germany0 aBank Affiliations and Firm Capital Investment in Germany c1994 a1-150 v110aFinance10aOSU-Cascades1 aElston, Julie1 aAlbach, Horst u/biblio/bank-affiliations-and-firm-capital-investment-germany-000463nas a2200133 4500008004100000245006300041210006200104260000900166300001200175490000700187653001200194100002000206856010300226 1994 eng d00aBid-Ask Spread Components Around Anticipated Announcements0 aBidAsk Spread Components Around Anticipated Announcements c1994 a375-3860 v2710aFinance1 aBrooks, Raymond u/biblio/bid-ask-spread-components-around-anticipated-announcements00408nas a2200133 4500008004100000245004500041210004400086260000900130300001200139490000600151653001200157100002000169856008500189 1994 eng d00aDividen Predicting Using Put-Call Parity0 aDividen Predicting Using PutCall Parity c1994 a373-3920 v310aFinance1 aBrooks, Raymond u/biblio/dividen-predicting-using-put-call-parity00551nas a2200121 4500008004100000245011500041210006900156260002500225653001200250653001700262100001800279856013200297 1994 eng d00aDoes Firm Size Matter? Evidence on the Impacts of Liquidity Constraints on firm Investment Behavior in Germany0 aDoes Firm Size Matter Evidence on the Impacts of Liquidity Const aChania, Greecec199410aFinance10aOSU-Cascades1 aElston, Julie u/biblio/does-firm-size-matter-evidence-impacts-liquidity-constraints-firm-investment-behavior-0