TY - JOUR
T1 - Are Family Firms More Efficient? Revisiting the U-Shaped Curve of Firm Scale and Efficiency
JF - Small Business Economics
Y1 - 2023
A1 - Elston,Julie
A1 - Zhang,Yingchao
A1 - Chen,Ku-Hsieh
A1 - Chen,Pei-Hwa
KW - Finance
KW - OSU-Cascades
AB - This 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.
U2 - a
U4 - 254543572992
ID - 254543572992
ER -
TY - JOUR
T1 - Corporate Reputation and Hedging Activities
JF - Accounting and Finance
Y1 - 2023
A1 - Deng,Junfang
A1 - Yang,Jimmy
KW - Accounting
KW - Finance
VL - 63
CP - S1
U2 - a
U4 - 220996175872
ID - 220996175872
ER -
TY - JOUR
T1 - Intraday Momentum in the VIX Futures Market
JF - Journal of Banking & Finance
Y1 - 2023
A1 - Huang,Hong-Gia
A1 - Tsai,Wei-Che
A1 - Weng,Pei-Shih
A1 - Yang,Jimmy
KW - Finance
VL - 148
U2 - a
U4 - 219520659456
ID - 219520659456
ER -
TY - HEAR
T1 - Aggregate 52-week high, limited attention, and time-varying momentum profits
Y1 - 2022
A1 - Hung,Weifeng
A1 - Lin,Ching-Ting
A1 - Yang,Jimmy
KW - Finance
JA - Research Seminar
CY - Victoria, Canada
U2 - c
U4 - 233738010624
ID - 233738010624
ER -
TY - JOUR
T1 - Aggregate 52-week high, limited attention, and time-varying momentum profits
JF - Journal of Banking & Finance
Y1 - 2022
A1 - Hung,Weifeng
A1 - Lin,Ching-Ting
A1 - Yang,Jimmy
KW - Finance
VL - 141
U2 - a
U4 - 233737533440
ID - 233737533440
ER -
TY - HEAR
T1 - Chinese Capital Structure: Theory and Evidence
Y1 - 2022
A1 - Elston,Julie
KW - Finance
KW - OSU-Cascades
JA - Annual Meeting of the Academy of Finance
CY - Chicago Il
U2 - c
U4 - 232941420544
ID - 232941420544
ER -
TY - HEAR
T1 - Chinese Capital Structure: Theory and Evidence
Y1 - 2022
A1 - Elston,Julie
KW - Finance
KW - OSU-Cascades
JA - 35th Annual meeting of the Academy of Finance
CY - Chicago
U2 - c
U4 - 254544160768
ID - 254544160768
ER -
TY - JOUR
T1 - Crash-Based Quantitative Trading Strategies: Perspective of Behavioral Finance
JF - Finance Research Letters
Y1 - 2022
A1 - Fang,Yan
A1 - Yuan,Jie
A1 - Yang,Jimmy
A1 - Ying,Shangjun
KW - Finance
VL - 45
U2 - a
U4 - 218946035712
ID - 218946035712
ER -
TY - JOUR
T1 - Does the tail risk index matter in forecasting downside risk?
JF - International Journal of Finance and Economics
Y1 - 2022
A1 - Hung,Jui-Cheng
A1 - Liu,Hung-Chun
A1 - Yang,Jimmy
KW - Finance
U2 - a
U4 - 219521509376
ID - 219521509376
ER -
TY - JOUR
T1 - An Empirical Examination of Firm Growth in the MENA Region: Through the Lens of Gibrat's Law
JF - Small Business Economics
Y1 - 2022
A1 - Elston,Julie
A1 - Weidinger,Alois Konrad
KW - Finance
KW - OSU-Cascades
VL - 60
UR - https://www.springer.com/economics/microeconomics/journal/40812
CP - 1
U2 - a
U4 - 254544275456
ID - 254544275456
ER -
TY - HEAR
T1 - Myths from Silicon Valley -Is Tech difference than Detroit?
Y1 - 2022
A1 - Elston,Julie
KW - Finance
KW - OSU-Cascades
JA - Recharging Austro-American Relations
CY - Vienna, Austria.
U2 - c
U4 - 254544103424
ID - 254544103424
ER -
TY - HEAR
T1 - What Does Sustainable Growth look in the Technology Sector?
Y1 - 2022
A1 - Elston,Julie
KW - Finance
KW - OSU-Cascades
JA - EUBA Conference “Sustainable Business Development Perspectives in 2022
CY - Slovakia
U2 - c
U4 - 254544123904
ID - 254544123904
ER -
TY - HEAR
T1 - Challenges and Opportunities of Research in Austria
Y1 - 2021
A1 - Elston,Julie
KW - Finance
KW - OSU-Cascades
JA - Realities of Life in Austria: U.S. Fulbright Scholars Orientation Program 2020-21
CY - Invited Online Webinar
U2 - c
U4 - 218336243712
ID - 218336243712
ER -
TY - JOUR
T1 - Destabilization and Consolidation: Conceptualizing, Measuring, and Validating the Dual Characteristics of Technology
JF - Research Policy
Y1 - 2021
A1 - Chen,Jiyao
A1 - Shao,Rong
A1 - Fan,Shaokun
KW - BIS
KW - Business Analytics
KW - Finance
KW - Strategy & Entrepreneurship
VL - 50
CP - 1
U2 - a
U4 - 162168494080
ID - 162168494080
ER -
TY - JOUR
T1 - Family control, external governance mechanisms, and dividend payouts
JF - Quarterly Review of Economics and Finance
Y1 - 2021
A1 - Teng,Chia-Chen
A1 - Li,Shaomin
A1 - Yang,Jimmy
KW - Finance
VL - 79
U2 - a
U4 - 202763948032
ID - 202763948032
ER -
TY - HEAR
T1 - Fulbright in Austria
Y1 - 2021
A1 - Elston,Julie
KW - Finance
KW - OSU-Cascades
JA - 70 Years of Bright Minds: 70th Anniversary Celebration
CY - Webinar online
U2 - c
U4 - 232941268992
ID - 232941268992
ER -
TY - JOUR
T1 - Media exposure on corporate social irresponsibility and firm performance
JF - Pacific-Basin Finance Journal
Y1 - 2021
A1 - Teng,Chia-Chen
A1 - Yang,Jimmy
KW - Finance
VL - 68
U2 - a
U4 - 219521202176
ID - 219521202176
ER -
TY - JOUR
T1 - Public Information and Venture Capital Investment
JF - Journal of Financial and Quantitative Analysis
Y1 - 2021
A1 - Gibbons,Brian
KW - Finance
U2 - a
U4 - 220656068608
ID - 220656068608
ER -
TY - JOUR
T1 - Share Pledging, Payout Policy, and the Value of Cash Holdings
JF - Journal of Empirical Finance
Y1 - 2021
A1 - Chou,Robin
A1 - Wang,Yu-Chun
A1 - Yang,Jimmy
KW - Finance
AB - Share 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.
VL - 61
CP - March
U2 - a
U4 - 184512514048
ID - 184512514048
ER -
TY - JOUR
T1 - Technical expert CEOs and corporate innovation
JF - Pacific-Basin Finance Journal
Y1 - 2021
A1 - Ting,Hsiu-I
A1 - Wang,Ming-Chun
A1 - Yang,Jimmy
A1 - Tuan,Kai-Wen
KW - Finance
VL - 68
U2 - a
U4 - 233737959424
ID - 233737959424
ER -
TY - JOUR
T1 - Trader Positions in VIX Futures
JF - Journal of Empirical Finance
Y1 - 2021
A1 - Chen,Yu-Lun
A1 - Yang,Jimmy
KW - Finance
AB - We 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.
VL - 61
CP - March
U2 - a
U4 - 184512481280
ID - 184512481280
ER -
TY - JOUR
T1 - Trading activity and price discovery in Bitcoin futures markets
JF - Journal of Empirical Finance
Y1 - 2021
A1 - Hung,Jui-Cheng
A1 - Liu,Hung-Chun
A1 - Yang,Jimmy
KW - Finance
VL - 62
CP - June
U2 - a
U4 - 202763657216
ID - 202763657216
ER -
TY - JOUR
T1 - Analyst Information Acquisition via EDGAR
JF - Management Science
Y1 - 2020
A1 - Gibbons,Brian
A1 - Iliev,Peter
A1 - Kalodimos,Jonathan
KW - Finance
AB - We 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.
CY - INFORMS
U2 - a
U4 - 161327624192
ID - 161327624192
ER -
TY - HEAR
T1 - Austria's Research Opportunities
Y1 - 2020
A1 - Elston,Julie
KW - Finance
KW - OSU-Cascades
JA - Spotlight on Austria: Fulbright U.S. Scholar Opportunities
CY - Online Webinar
U2 - c
U4 - 218336321536
ID - 218336321536
ER -
TY - JOUR
T1 - Earnings conference calls and institutional monitoring: Evidence from textual analysis
JF - Journal of Financial Research
Y1 - 2020
A1 - Berger,Dave
A1 - Cao,Xueli
A1 - Pukthuanthong,Kuntara
KW - Finance
U2 - a
U4 - 144818911232
ID - 144818911232
ER -
TY - JOUR
T1 - Experimental Shareholder Activism: A Novel Approach to Organizational Research
JF - Journal of Vocational Behavior
Y1 - 2020
A1 - Kalodimos,Jonathan
A1 - Leavitt,Keith
KW - Finance
KW - Management
AB - Decision 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.
VL - 120
U2 - a
U4 - 183677749248
ID - 183677749248
ER -
TY - JOUR
T1 - Governance Changes through Shareholder Initiatives: The Case of Proxy Access
JF - Journal of Financial and Quantitative Analysis
Y1 - 2020
A1 - Bhandari,Tara
A1 - Iliev,Peter
A1 - Kalodimos,Jonathan
KW - Finance
AB - We 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.
U2 - a
U4 - 127028414464
ID - 127028414464
ER -
TY - JOUR
T1 - Housing Price Dynamics, Mortgage Credit and Reverse Mortgage Demand: Theory and Empirical Evidence
JF - Real Estate Economics
Y1 - 2020
A1 - Chen,Kuo-Shing
A1 - Yang,Jimmy
KW - Finance
VL - 48
CP - 2
U2 - a
U4 - 144773152768
ID - 144773152768
ER -
TY - HEAR
T1 - Impact of Team Size on Technological Contributions: Unpacking Disruption and Development
Y1 - 2020
A1 - Chen,Jiyao
A1 - Shao,Rong
A1 - Fan,Shaokun
A1 - Li,Jiexun
KW - BIS
KW - Business Analytics
KW - Finance
KW - Strategy & Entrepreneurship
JA - AOM Annual Meeting
CY - Vancouver CA
U2 - c
U4 - 202782855168
ID - 202782855168
ER -
TY - JOUR
T1 - Improving the realized GARCH's volatility forecast for Bitcoin with jump-robust estimators
JF - North American Journal of Economics and Finance
Y1 - 2020
A1 - Hung,Jui-Cheng
A1 - Liu,Hung-Chun
A1 - Yang,Jimmy
KW - Finance
VL - 52
U2 - a
U4 - 202763464704
ID - 202763464704
ER -
TY - JOUR
T1 - A new metric of market underreaction to earnings announcements: An empirical test
JF - Asia-Pacific Journal of Financial Studies
Y1 - 2020
A1 - Chung,Kee H
A1 - Kim,Oliver
A1 - Lim,Steve
A1 - Yang,Sean
KW - Finance
U2 - a
U4 - 181188927488
ID - 181188927488
ER -
TY - HEAR
T1 - "Passive Debt Ownership and Corporate Financial Policy"
Y1 - 2020
A1 - Gibbons,Brian
KW - Finance
JA - Financial Management Association
U2 - c
U4 - 230634104832
ID - 230634104832
ER -
TY - HEAR
T1 - "Passive Debt Ownership and Corporate Financial Policy"
Y1 - 2020
A1 - Gibbons,Brian
KW - Finance
JA - Southern Finance Association
U2 - c
U4 - 230634098688
ID - 230634098688
ER -
TY - JOUR
T1 - A rare move: the effects of switching from a closing call auction to a continuous trading
JF - The Journal of Futures Markets
Y1 - 2020
A1 - Chang,Ya-Kai
A1 - Chou,Robin K
A1 - Yang,Jimmy
KW - Finance
AB - This 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.
VL - 40
CP - 3
U2 - a
U4 - 127152922624
ID - 127152922624
ER -
TY - JOUR
T1 - An analytical measure of market underreactions to earnings surprises
JF - International Review of Economics and Finance
Y1 - 2019
A1 - Chung,Kee
A1 - Kim,Olive
A1 - Lim,Steve
A1 - Yang,Sean
KW - Finance
VL - 64
U2 - a
U4 - 167272583168
ID - 167272583168
ER -
TY - JOUR
T1 - Corporate Governance: What We Know And Don't Know
JF - Journal of Industrial and Business Economics
Y1 - 2019
A1 - Elston,Julie
KW - Finance
KW - OSU-Cascades
AB - The 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.
UR - https://www.springer.com/economics/microeconomics/journal/40812
U2 - a
U4 - 182875981824
ID - 182875981824
ER -
TY - CHAP
T1 - Dr. Audretsch: or How I Learned to Stop Worrying and Love Doing Small Business Research
Y1 - 2019
A1 - Elston,Julie
KW - Finance
KW - OSU-Cascades
U2 - d
U4 - 202848339968
ID - 202848339968
ER -
TY - JOUR
T1 - Internationalization and Regional Entrepreneurship in China
JF - Small Business Economics
Y1 - 2019
A1 - Elston,Julie
A1 - Weidinger,Alois
KW - Accounting
KW - Finance
KW - OSU-Cascades
AB - This 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.
U2 - a
U4 - 50792673280
ID - 50792673280
ER -
TY - JOUR
T1 - Board members' influence on resource investments to start-ups and IPO outcomes: Does prior affiliation matter?
JF - Pacific-Basin Finance Journal
Y1 - 2018
A1 - Mathew,Prem
A1 - Takahashi,Hidenori
A1 - Yamakawa,Yasuhiro
KW - Finance
AB - Using 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.
VL - 49
UR - https://www.sciencedirect.com/science/article/pii/S0927538X17304468
CP - June 2018
U2 - a
U4 - 162678636544
ID - 162678636544
ER -
TY - HEAR
T1 - Careers in Accounting Profession
Y1 - 2018
A1 - Longo,Robert
KW - Engagement
KW - Finance
JA - West Albany High School, Business Education
CY - Albany, OR
U2 - c
U4 - 162892679168
ID - 162892679168
ER -
TY - JOUR
T1 - Chinese Lunar New Year Effect, Investor Sentiment, and Market Deregulation
JF - Finance Research Letters
Y1 - 2018
A1 - Teng,Chia-Chen
A1 - Yang,Jimmy
KW - Finance
AB - This 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.
VL - 27
UR - https://www.sciencedirect.com/science/article/pii/S1544612317305640
U2 - a
U4 - 144773136384
ID - 144773136384
ER -
TY - HEAR
T1 - Development of Context-based Indices for Measuring Dynamic and Dualistic Nature of Innovation
Y1 - 2018
A1 - Chen,Jiyao
A1 - Shao,Rong
A1 - Fan,Shaokun
KW - BIS
KW - Business Analytics
KW - Finance
KW - Strategy & Entrepreneurship
JA - Academy of Management Annual Conference
CY - Chicago, IL
U2 - c
U4 - 162437109760
ID - 162437109760
ER -
TY - HEAR
T1 - Evidence on the Dynamic Nature of Executive Compensation and Corporate Governance in China
Y1 - 2018
A1 - Elston,Julie
KW - Finance
KW - OSU-Cascades
JA - Corporate Governance
CY - Copenhagen
U2 - c
U4 - 182878932992
ID - 182878932992
ER -
TY - HEAR
T1 - An Examination of the Relationship Between Size and Growth of Listed Firms in the United Arab Emirates
Y1 - 2018
A1 - Elston,Julie
A1 - Weidinger,Alois
A1 - Widmer,Melanie
KW - Accounting
KW - Finance
KW - OSU-Cascades
JA - 7th International Conference on Restructuring of the Global Economy (ROGE)
CY - Oxford, UK
U2 - c
U4 - 182878883840
ID - 182878883840
ER -
TY - JOUR
T1 - Many analysts, one dataset: Making transparent how variations in analytical choices affect results
JF - Advances in Methods and Practices in Psychological Science
Y1 - 2018
A1 - Silberzahn,R
A1 - Uhlmann,E
A1 - Martin,D
A1 - Anselmi,P
A1 - Aust,F
A1 - Awtrey,E
A1 - Bahník,S
A1 - Bai,F
A1 - Bannard,C
A1 - Bonnier,E
A1 - Carlsson,R
A1 - Cheung,F
A1 - Christensen,G
A1 - Clay,R
A1 - Craig,M
A1 - Rosa,A
A1 - Dam,L
A1 - Evans,M
A1 - Cervantes,I
A1 - Fong,N
A1 - Gamez-Djokic,M
A1 - Glenz,A
A1 - Gordon-McKeon,S
A1 - Heaton,T
A1 - Eriksson,K
A1 - Heene,M
A1 - Mohr,A
A1 - Högden,F
A1 - Hui,K
A1 - Johannesson,M
A1 - Kalodimos,Jonathan
A1 - Kaszubowski,E
A1 - Kennedy,D
A1 - Lei,R
A1 - Lindsay,T
A1 - Liverani,S
A1 - Madan,C
A1 - Molden,D
A1 - Molleman,E
A1 - Morey,R
A1 - Mulder,L
A1 - Nijstad,B
A1 - Pope,B
A1 - Pope,N
A1 - Prenoveau,J
A1 - Rink,F
A1 - Robusto,E
A1 - Roderique,H
A1 - Sandberg,A
A1 - Schlueter,E
A1 - Schönbrodt,F
A1 - Sherman,M
A1 - Sommer,S
A1 - Sotak,K
A1 - Spain,S
A1 - Spörlein,C
A1 - Stafford,T
A1 - Stefanutti,L
A1 - Täuber,S
A1 - Ullrich,J
A1 - Vianello,M
A1 - Wagenmakers,E
A1 - Witkowiak,M
A1 - Yoon,S
A1 - Nosek,B
KW - Finance
U2 - a
U4 - 162090280960
ID - 162090280960
ER -
TY - JOUR
T1 - The MAX Effect: Lottery Stocks with Price Limits and Limits to Arbitrage
JF - Journal of Financial Markets
Y1 - 2018
A1 - Hung,Weifeng
A1 - Yang,Jimmy
KW - Finance
AB - We 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.
VL - 41
U2 - a
U4 - 162670010368
ID - 162670010368
ER -
TY - JOUR
T1 - Product Market Characteristics and the Choice between IPOs and Acquisitions
JF - Journal of Financial and Quantitative Analysis
Y1 - 2018
A1 - He,Shan
A1 - Chemmanur,T.
A1 - He,J.
A1 - Nandy,D.
KW - Finance
U2 - a
U4 - 144799162368
ID - 144799162368
ER -
TY - HEAR
T1 - "Through Thick and Thin: Political Risk and the Interdependencies between MNCs and Host Countries"
Y1 - 2018
A1 - Blouin,Jennifer
A1 - Gibbons,Brian
A1 - Wang,Clare
A1 - Wellman,Laura
KW - Finance
JA - Financial Accounting and Reporting Section Midyear Conference
U2 - c
U4 - 230634094592
ID - 230634094592
ER -
TY - HEAR
T1 - "Through Thick and Thin: Political Risk and the Interdependencies between MNCs and Host Countries"
Y1 - 2018
A1 - Blouin,Jennifer
A1 - Gibbons,Brian
A1 - Wang,Clare
A1 - Wellman,Laura
KW - Finance
JA - Oxford University, Corporate Political Engagement in Europe and the US
U2 - c
U4 - 230634096640
ID - 230634096640
ER -
TY - HEAR
T1 - "Through Thick and Thin: Political Risk and the Interdependencies between MNCs and Host Countries"
Y1 - 2018
A1 - Wang,Clare
A1 - Gibbons,Brian
A1 - Blouin,Jennifer
A1 - Wellman,Laura
KW - Finance
JA - University of Colorado, Summer Accounting Research Conference
U2 - c
U4 - 230634102784
ID - 230634102784
ER -
TY - ABST
T1 - Disruption in Health Care Markets
Y1 - 2017
A1 - Kalodimos,Jonathan
KW - Finance
UR - https://businessradio.wharton.upenn.edu/programs/the-business-of-health-care
U2 - d
U4 - 154845061120
ID - 154845061120
ER -
TY - JOUR
T1 - Internal Governance and Performance: Evidence From When External Discipline is Weak
JF - Journal of Corporate Finance
Y1 - 2017
A1 - Kalodimos,Jonathan
KW - Finance
AB - The 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.
VL - 43
UR - http://www.sciencedirect.com/science/article/pii/S0929119917300196
U2 - a
U4 - 127028529152
ID - 127028529152
ER -
TY - ABST
T1 - Progress in Understanding Proxy Access and the Shareholder Proposal Process
Y1 - 2017
A1 - Kalodimos,Jonathan
A1 - Bhandari,Tara
A1 - Iliev,Peter
KW - Finance
UR - https://corpgov.law.harvard.edu/2017/01/03/progress-in-understanding-proxy-access-and-the-shareholder-proposal-process/
U2 - d
U4 - 138714636288
ID - 138714636288
ER -
TY - JOUR
T1 - Shareholder Rights in Mergers and Acquisitions: Are Appraisal Rights Being Abused?
JF - Finance Research Letters
Y1 - 2017
A1 - Kalodimos,Jonathan
A1 - Lundberg,Clark
KW - Finance
AB - Appraisal 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.
U2 - a
U4 - 138602024960
ID - 138602024960
ER -
TY - HEAR
T1 - "Through Thick and Thin: Political Risk and the Interdependencies between MNCs and Host Countries"
Y1 - 2017
A1 - Blouin,Jennifer
A1 - Gibbons,Brian
A1 - Wang,Clare
A1 - Wellman,Laura
KW - Finance
JA - University of Chicago, Global Issues in Accounting Conference
U2 - c
U4 - 230634100736
ID - 230634100736
ER -
TY - JOUR
T1 - Business Cultural Intelligence Quotient: A Five-Country Study
JF - Thunderbird International Business Review
Y1 - 2016
A1 - Elston,Julie
A1 - Alon,Ilan
KW - Finance
KW - OSU-Cascades
AB - Cultural 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.
U2 - a
U4 - 87627952128
ID - 87627952128
ER -
TY - JOUR
T1 - Corporate Governance and the Informational Efficiency of Prices
JF - Financial Management
Y1 - 2016
A1 - Lee,C.
A1 - Chung,K. H.
A1 - Yang,Sean
KW - Finance
VL - 45
CP - Spring 2016
U2 - a
U4 - 132483514368
ID - 132483514368
ER -
TY - HEAR
T1 - The cost of corporate social irresponsibility
Y1 - 2016
A1 - Yang,Jimmy
A1 - Lin,KC
A1 - Johnson,Shane
KW - Finance
JA - Finance Seminar
CY - Taiwan
U2 - c
U4 - 144794304512
ID - 144794304512
ER -
TY - HEAR
T1 - The cost of corporate social irresponsibility
Y1 - 2016
A1 - Yang,Jimmy
A1 - Lin,KC
A1 - Johnson,Shane
KW - Finance
JA - Finance Seminar
CY - Taiwan
U2 - c
U4 - 144773222400
ID - 144773222400
ER -
TY - HEAR
T1 - The cost of corporate social irresponsibility
Y1 - 2016
A1 - Yang,Jimmy
A1 - Lin,KC
A1 - Johnson,Shane
KW - Finance
JA - Finance Seminar
CY - Taiwan
U2 - c
U4 - 144773206016
ID - 144773206016
ER -
TY - HEAR
T1 - The cost of corporate social irresponsibility
Y1 - 2016
A1 - Yang,Jimmy
A1 - Lin,KC
A1 - Johnson,Shane
KW - Finance
JA - Entrepreneurship Society Seminar
CY - Taiwan
U2 - c
U4 - 144794408960
ID - 144794408960
ER -
TY - JOUR
T1 - The Effects of Executive, Firm, and Board Characteristics on Executive Exit
JF - Financial Review
Y1 - 2016
A1 - Becker-Blease,John
KW - Finance
AB - We 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.
VL - 51
CP - 4
U2 - a
U4 - 107214450688
ID - 107214450688
ER -
TY - JOUR
T1 - Evidence on the Dynamic Nature of Executive Compensation and Corporate Governance in China
JF - International Journal of Corporate Governance
Y1 - 2016
A1 - Elston,Julie
KW - Finance
KW - OSU-Cascades
VL - 7
CP - 3
U2 - a
U4 - 106814715904
ID - 106814715904
ER -
TY - JOUR
T1 - Fragility, stress, and market returns
JF - Journal of Banking & Finance
Y1 - 2016
A1 - Berger,Dave
A1 - Pukthuanthong,Kuntara
KW - Finance
U2 - a
U4 - 57419567104
ID - 57419567104
ER -
TY - ABST
T1 - A Gadfly's Perspective
Y1 - 2016
A1 - Kalodimos,Jonathan
KW - Finance
UR - https://corpgov.law.harvard.edu/2016/09/21/a-gadflys-perspective/
U2 - d
U4 - 133679271936
ID - 133679271936
ER -
TY - JOUR
T1 - Human Capital, Management Quality, and the Exit Decisions of Entrepreneurial Firms
JF - Journal of Financial and Quantitative Analysis
Y1 - 2016
A1 - He,Shan
A1 - Lei,C. W.
KW - Finance
VL - 51
U2 - a
U4 - 132486203392
ID - 132486203392
ER -
TY - JOUR
T1 - Institutional Trading, Information Production, and Corporate Spin-offs
JF - Journal of Corporate Finance
Y1 - 2016
A1 - He,Shan
A1 - Chemmanur,T. J.
KW - Finance
VL - 38
U2 - a
U4 - 132486158336
ID - 132486158336
ER -
TY - HEAR
T1 - Internationalization and Regional Entrepreneurship: Empirical Evidence on the Formation of New Ventures in China
Y1 - 2016
A1 - Elston,Julie
A1 - Weidinger,Alois
KW - Finance
KW - OSU-Cascades
JA - 33rd Annual International Business Research Conference
CY - Dubai
U2 - c
U4 - 126148700160
ID - 126148700160
ER -
TY - HEAR
T1 - Internationalization and Regional Entrepreneurship: Empirical Evidence on the Formation of New Ventures in China
Y1 - 2016
A1 - Elston,Julie
KW - Finance
KW - OSU-Cascades
JA - International Workshop on Entrepreneurship in China
CY - China
U2 - c
U4 - 143265462272
ID - 143265462272
ER -
TY - HEAR
T1 - Internationalization, Geographic Location and Entrepreneurial Intention
Y1 - 2016
A1 - Elston,Julie
KW - Finance
KW - OSU-Cascades
JA - Academy of International Business Annual onference
CY - New Orleans, LA
U2 - c
U4 - 143265439744
ID - 143265439744
ER -
TY - ABST
T1 - Proposals Meant to Spark Nuanced Conversation about Stock Buybacks
Y1 - 2016
A1 - Kalodimos,Jonathan
KW - Finance
U2 - d
U4 - 129112414208
ID - 129112414208
ER -
TY - HEAR
T1 - Public versus Private Provision of Governance: The Case of Proxy Access
Y1 - 2016
A1 - Kalodimos,Jonathan
KW - Finance
JA - SFS Cavalcade
CY - Toronto, Ontario
U2 - c
U4 - 128932503552
ID - 128932503552
ER -
TY - JOUR
T1 - The role of informal capital on new venture formation and growth in China
JF - Small Business Economics
Y1 - 2016
A1 - Elston,Julie
A1 - Chen,Sandy
A1 - Weidinger,Alois
KW - Accounting
KW - Finance
KW - OSU-Cascades
KW - OSU-Cascades Hospitality Mgt
AB - This 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.
VL - 46
CP - 1
U2 - a
U4 - 50792955904
ID - 50792955904
ER -
TY - HEAR
T1 - On valuing human capital and relating it to macro variables
Y1 - 2016
A1 - Berger,Dave
A1 - Roll,Richard
A1 - Pukthuanthong,Kuntara
KW - Finance
JA - Financial Management Association Annual Meeting
CY - Las Vegas
U2 - c
U4 - 144819625984
ID - 144819625984
ER -
TY - HEAR
T1 - Anti-Takeover Provisions, Corporate Governance, and Firm Performance
Y1 - 2015
A1 - He,Shan
KW - Finance
JA - Financial Management Association Annual Meeting 2015
CY - Orlando
U2 - c
U4 - 144799627264
ID - 144799627264
ER -
TY - HEAR
T1 - Closed-end fund IPOs, Sold not Bought
Y1 - 2015
A1 - Shao,Rong
KW - Finance
JA - Financial Management Association (FMA) Conference
CY - Las Vegas, NV
U2 - c
U4 - 144721954816
ID - 144721954816
ER -
TY - HEAR
T1 - The cost of corporate social irresponsibility
Y1 - 2015
A1 - Yang,Jimmy
A1 - Lin,KC
KW - Finance
JA - Finance Seminar
CY - Taiwan
U2 - c
U4 - 127152746496
ID - 127152746496
ER -
TY - HEAR
T1 - The cost of corporate social irresponsibility
Y1 - 2015
A1 - Yang,Jimmy
A1 - Lin,KC
KW - Finance
JA - Finance Seminar
CY - Taiwan
U2 - c
U4 - 127152736256
ID - 127152736256
ER -
TY - HEAR
T1 - Cultural Intelligence Antecedents
Y1 - 2015
A1 - Elston,Julie
KW - Finance
KW - OSU-Cascades
JA - European Academy of Management (EURAM) Conference
CY - Warsaw, Poland
U2 - c
U4 - 106814851072
ID - 106814851072
ER -
TY - HEAR
T1 - Does Corporate Social Responsibility Attract the "Right" Investors
Y1 - 2015
A1 - Becker-Blease,John
KW - Finance
JA - Social and Sustainable Finance and Impact Investing Conference
CY - Oxford, England
U2 - c
U4 - 107214395392
ID - 107214395392
ER -
TY - JOUR
T1 - Does Director Affiliation Lead to Analyst Bias?
JF - Applied Economics
Y1 - 2015
A1 - Mathew,Prem
A1 - Yildirim,H. Semih
KW - Finance
VL - 47
CP - 3
U2 - a
U4 - 98447046656
ID - 98447046656
ER -
TY - JOUR
T1 - The Effect of Ownership Structure on the Price Earnings Ratio-Returns Anomaly
JF - International Review of Financial Analysis
Y1 - 2015
A1 - Houmes,Robert
A1 - Chira,Inga
KW - Finance
U2 - a
U4 - 103855190016
ID - 103855190016
ER -
TY - HEAR
T1 - Empirical Financial Studies and Policy Implications
Y1 - 2015
A1 - Yang,Jimmy
KW - Finance
JA - 3rd Global Economy and Governance International Conference
CY - Taipei
U2 - c
U4 - 127152842752
ID - 127152842752
ER -
TY - HEAR
T1 - A Hierarchy of Cultural Intelligence Antecedents
Y1 - 2015
A1 - Elston,Julie
KW - Finance
KW - OSU-Cascades
JA - Academy of Management Annual Meetings
CY - Vancouver, BC, Canada
U2 - c
U4 - 106814875648
ID - 106814875648
ER -
TY - HEAR
T1 - A Hierarchy of Cultural Intelligence Antecedents
Y1 - 2015
A1 - Elston,Julie
KW - Finance
KW - OSU-Cascades
JA - Academy of Business (AIB) Bengaluru Conference
CY - India
U2 - c
U4 - 106814861312
ID - 106814861312
ER -
TY - HEAR
T1 - Internal Governance and Performance: Evidence From When External Discipline is Weak
Y1 - 2015
A1 - Kalodimos,Jonathan
KW - Finance
JA - Seminar Series
CY - San Diego State University
U2 - c
U4 - 115023069184
ID - 115023069184
ER -
TY - HEAR
T1 - Measuring Cultural Intelligence
Y1 - 2015
A1 - Elston,Julie
KW - Finance
KW - OSU-Cascades
CY - Abu Dhabi, UAE
U2 - c
U4 - 106814824448
ID - 106814824448
ER -
TY - HEAR
T1 - A model of price limits on individual stocks
Y1 - 2015
A1 - Yang,Jimmy
A1 - Luo,Yuchen
KW - Finance
JA - World Finance Conference
CY - Buenos Aires
U2 - c
U4 - 127152861184
ID - 127152861184
ER -
TY - HEAR
T1 - A model of price limits on individual stocks
Y1 - 2015
A1 - Yang,Jimmy
A1 - Luo,Yuchen
KW - Finance
JA - Finance Seminar
CY - Taiwan
U2 - c
U4 - 127152723968
ID - 127152723968
ER -
TY - JOUR
T1 - New venture legitimacy: the conditions for angel investors
JF - Small Business Economics
Y1 - 2015
A1 - Becker-Blease,John
A1 - Sohl,Jeffrey
KW - Finance
AB - Favorable 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.
VL - 45
CP - 4
U2 - a
U4 - 117456082944
ID - 117456082944
ER -
TY - ABST
T1 - Public versus Private Provision of Governance: The Case of Proxy Access
Y1 - 2015
A1 - Kalodimos,Jonathan
A1 - Iliev,Peter
A1 - Bhandari,Tara
KW - Finance
UR - http://clsbluesky.law.columbia.edu/2015/10/01/public-versus-private-provision-of-governance-the-case-of-proxy-access/
U2 - d
U4 - 115408058368
ID - 115408058368
ER -
TY - JOUR
T1 - Reverse Stock Splits, Institutional Holdings, and Share Value
JF - Financial Management
Y1 - 2015
A1 - Chung,K. H.
A1 - Yang,Sean
KW - Finance
VL - 44
CP - Spring 2015
U2 - a
U4 - 132483401728
ID - 132483401728
ER -
TY - HEAR
T1 - The Role of Informal Capital in Growth in China
Y1 - 2015
A1 - Elston,Julie
KW - Finance
KW - OSU-Cascades
JA - International Conference on Small Business (ICSB) World Conference on Entrepreneurship at a Global Crossroads
CY - Dubai, UAE
U2 - c
U4 - 106814887936
ID - 106814887936
ER -
TY - JOUR
T1 - Sentiment Bubbles
JF - Journal of Financial Markets
Y1 - 2015
A1 - Berger,Dave
A1 - Turtle,Harry
KW - Finance
AB - We 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.
VL - 23
U2 - a
U4 - 57419835392
ID - 57419835392
ER -
TY - JOUR
T1 - Bad News and Bank Performance during the 2008 Financial Crisis
JF - Applied Financial Economics
Y1 - 2014
A1 - Chira,Inga
KW - Finance
AB - The 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.
VL - 24
CP - 18
U2 - a
U4 - 103855024128
ID - 103855024128
ER -
TY - JOUR
T1 - Daily Data is Bad for Beta: Opacity and Frequency-Dependent Betas
JF - Review of Asset Pricing Studies
Y1 - 2014
A1 - Kalodimos,Jonathan
A1 - Gilbert,T.
A1 - Hrdlicka,C.
A1 - Siegel,S.
KW - Finance
U2 - a
U4 - 109257807872
ID - 109257807872
ER -
TY - HEAR
T1 - Does a change in firm visibility affect value?
Y1 - 2014
A1 - Becker-Blease,John
A1 - Khoury,Ted
A1 - Paul,Donna
KW - Finance
JA - SMS Annual International Conference
CY - Madrid, Spain
U2 - c
U4 - 88226975744
ID - 88226975744
ER -
TY - JOUR
T1 - The Effect on Stockholder Wealth of Product Recalls and Government Action: The Case of Toyota's Accelerator Pedal Recall
JF - Quarterly Review of Economics and Finance
Y1 - 2014
A1 - Gokhale,Jayendra
A1 - Brooks,Raymond
A1 - Tremblay,Victor J
KW - Finance
AB - We 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.
VL - 54
CP - November 2014
U2 - a
U4 - 87876405248
ID - 87876405248
ER -
TY - JOUR
T1 - Executive Compensation and Agency Issues in Italy
JF - International Journal of Corporate Governance
Y1 - 2014
A1 - Elston,Julie
A1 - Rondi,Laura
A1 - Bhattacharyya,Nalanaksha
KW - Finance
KW - OSU-Cascades
AB - From 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 Italy
VL - 5
CP - 3/4
U2 - a
U4 - 19827521537
ID - 19827521537
ER -
TY - HEAR
T1 - How Important is Governance? Evidence from Heart Attack Survival
Y1 - 2014
A1 - Kalodimos,Jonathan
KW - Finance
JA - Southwestern Finance Association Annual Conference
CY - Dallas, TX
U2 - c
U4 - 115023095808
ID - 115023095808
ER -
TY - HEAR
T1 - International Entrepreneurship
Y1 - 2014
A1 - Elston,Julie
KW - Finance
KW - OSU-Cascades
CY - Vienna
U2 - c
U4 - 106814816256
ID - 106814816256
ER -
TY - JOUR
T1 - Risk Change during Crises: How do Purely Local Companies Differ from Cross-listed Firms? Evidence from the European Crisis of 2010-2012
JF - Journal of Economics and Business
Y1 - 2014
A1 - Chira,Inga
KW - Finance
U2 - a
U4 - 87630446592
ID - 87630446592
ER -
TY - JOUR
T1 - Special Dividend Distributions, Firm Characteristics, and Economic Conditions
JF - Journal of Applied Finance: theory, practice, education
Y1 - 2014
A1 - Chira,Inga
KW - Finance
U2 - a
U4 - 87630465024
ID - 87630465024
ER -
TY - JOUR
T1 - What makes when-issued trading attractive to financial markets?
JF - Financial Markets, Institutions and Instruments
Y1 - 2014
A1 - Brooks,Raymond
A1 - Kim,Yong H
A1 - Yang,Jimmy
KW - Finance
AB - When-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.
VL - 23
CP - 5
U2 - a
U4 - 68819267584
ID - 68819267584
ER -
TY - JOUR
T1 - When-issued trading in the Indian IPO market
JF - Journal of Financial Markets
Y1 - 2014
A1 - Brooks,Raymond
A1 - Mathew,Prem
A1 - Yang,Jimmy
KW - Finance
VL - 19
U2 - a
U4 - 53120905216
ID - 53120905216
ER -
TY - HEAR
T1 - Agency Problems and Cash Savings from Equity Issuance
Y1 - 2013
A1 - Anthony,Andrea
KW - Finance
JA - FMA Doctoral Consortium
CY - Chicago, IL
U2 - c
U4 - 107182733312
ID - 107182733312
ER -
TY - JOUR
T1 - Bank Exposure to Market Fear
JF - Journal of Financial Stability
Y1 - 2013
A1 - Chira,Inga
A1 - Madura,I.
A1 - Viale,A.
KW - Finance
VL - 9
CP - 4
U2 - a
U4 - 84290600960
ID - 84290600960
ER -
TY - HEAR
T1 - Business Cultural Intelligence Quotient (BCIQ)
Y1 - 2013
A1 - Elston,Julie
KW - Finance
KW - OSU-Cascades
JA - Annual Academy of Management
CY - Orlando, FL
U2 - c
U4 - 87627702272
ID - 87627702272
ER -
TY - JOUR
T1 - The choice between rights and underwritten equity offerings: Evidence from Chinese Stock Markets
JF - Journal of Multinational Financial Management
Y1 - 2013
A1 - Dang,Li
A1 - Yang,Jimmy
KW - Accounting
KW - Finance
AB - We 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.
VL - 23
CP - 3
U2 - a
U4 - 2658564097
ID - 2658564097
ER -
TY - HEAR
T1 - Discussant
Y1 - 2013
A1 - Anthony,Andrea
KW - Finance
JA - Financial Management Association Annual Meeting
CY - Chicago, IL
U2 - c
U4 - 107182718976
ID - 107182718976
ER -
TY - JOUR
T1 - Is the diversification benefit of frontier markets realizable by mean-variance investors? The evidence of investable funds
JF - Journal of Portfolio Management
Y1 - 2013
A1 - Berger,Dave
A1 - Pukthuanthong,Kuntara
A1 - Yang,Jimmy
KW - Finance
VL - 39
U2 - a
U4 - 53000775681
ID - 53000775681
ER -
TY - JOUR
T1 - Entrepreneurial motives and characteristics: An analysis of small restaurant owners
JF - International Journal of Hospitality Management
Y1 - 2013
A1 - Elston,Julie
A1 - Chen,Sandy
KW - Finance
KW - OSU-Cascades
KW - OSU-Cascades Hospitality Mgt
VL - 35
U2 - a
U4 - 172831225856
ID - 172831225856
ER -
TY - JOUR
T1 - Financial turbulence and Beta estimation
JF - Applied Financial Economics
Y1 - 2013
A1 - Berger,Dave
KW - Finance
AB - I 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.
VL - 23
U2 - a
U4 - 31187142657
ID - 31187142657
ER -
TY - CHAP
T1 - Financing the Entrepreneurial Decision: An Empirical Approach Using Experimental Data on US High Technology Entrepreneurs
Y1 - 2013
A1 - Elston,Julie
KW - Finance
KW - OSU-Cascades
AB - Public Policy in the Entrepreneurial Society
CY - London
U2 - d
U4 - 78753181696
ID - 78753181696
ER -
TY - JOUR
T1 - The Impact of Governance Characteristics on the Stock Price of Cross Listed Companies
JF - Journal of Economics and Finance
Y1 - 2013
A1 - Chira,Inga
KW - Finance
U2 - a
U4 - 84290791424
ID - 84290791424
ER -
TY - JOUR
T1 - Impact of the Galleon Case on Informed Trading Before Merger Announcements
JF - Journal of Financial Research
Y1 - 2013
A1 - Chira,Inga
A1 - Madura,J.
KW - Finance
VL - 36
CP - 3
U2 - a
U4 - 84290693120
ID - 84290693120
ER -
TY - HEAR
T1 - International Entrepreneurship
Y1 - 2013
A1 - Elston,Julie
KW - Finance
KW - OSU-Cascades
JA - “Practical Problems in Economics”
CY - Bratislava, Slovakia.
U2 - c
U4 - 78753425408
ID - 78753425408
ER -
TY - HEAR
T1 - Measuring Risk Attitudes of High-Technology Entrepreneurs
Y1 - 2013
A1 - Elston,Julie
KW - Finance
KW - OSU-Cascades
JA - University Lecture
CY - Vienna Austria
U2 - c
U4 - 87627829248
ID - 87627829248
ER -
TY - HEAR
T1 - Measuring the Impacts of Risk Attitudes and Entrepreneurship of US High Technology Entrepreneurs
Y1 - 2013
A1 - Elston,Julie
KW - Finance
KW - OSU-Cascades
JA - Fulbright Inter-Country invited lecture
CY - Rome, Italy
U2 - c
U4 - 78753458176
ID - 78753458176
ER -
TY - JOUR
T1 - Reconsidering Price Limit Effectiveness
JF - Journal of Financial Research
Y1 - 2013
A1 - Kim,Kenneth
A1 - Liu,Haixiao
A1 - Yang,Jimmy
KW - Finance
AB - Most 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.
VL - 36
CP - 4
U2 - a
U4 - 30702327809
ID - 30702327809
ER -
TY - CHAP
T1 - Risk Attitudes, Wealth and Sources of Entrepreneurial Start-Up Capital
Y1 - 2013
A1 - Elston,Julie
KW - Finance
KW - OSU-Cascades
CY - London
U2 - d
U4 - 87643951104
ID - 87643951104
ER -
TY - JOUR
T1 - Share Repurchases, Catering, and Dividend Substitution
JF - Journal of Corporate Finance
Y1 - 2013
A1 - Jiang,Z.
A1 - Kim,K. A.
A1 - Lie,E.
A1 - Yang,Sean
KW - Finance
VL - 21
CP - June 2013
U2 - a
U4 - 132483328000
ID - 132483328000
ER -
TY - HEAR
T1 - Untitled
Y1 - 2013
A1 - He,Shan
KW - Finance
JA - Financial Intermediation Research Society (FIRS) Conference
CY - Croatia
U2 - c
U4 - 144799715328
ID - 144799715328
ER -
TY - JOUR
T1 - Cross-sectional performance and investor sentiment in a multiple risk factor model
JF - Journal of Banking & Finance
Y1 - 2012
A1 - Berger,Dave
A1 - Turtle,Harry J
KW - Finance
AB - The 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.
VL - 36
CP - 4
U2 - a
U4 - 31187070977
ID - 31187070977
ER -
TY - JOUR
T1 - Emerging from bankruptcy with when-issued trading
JF - Financial Review
Y1 - 2012
A1 - Brooks,Raymond
A1 - Yang,Jimmy
KW - Finance
AB - We 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.
VL - 47
U2 - a
U4 - 8582115329
ID - 8582115329
ER -
TY - HEAR
T1 - “Internationalization and Regional Entrepreneurship: Empirical Evidence on the Formation of New Ventures in China”
Y1 - 2012
A1 - Elston,Julie
KW - Finance
KW - OSU-Cascades
JA - Annual Academy of International Business Conference
CY - Washington DC
U2 - c
U4 - 50792708096
ID - 50792708096
ER -
TY - JOUR
T1 - Market fragility and international market crashes
JF - Journal of Financial Economics
Y1 - 2012
A1 - Berger,Dave
A1 - Pukthuanthong,Kuntara
KW - Finance
AB - We 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.
VL - 105
CP - 3
U2 - a
U4 - 33748656129
ID - 33748656129
ER -
TY - HEAR
T1 - “Regional Entrepreneurship: Empirical Evidence on the Formation of New Ventures in China”
Y1 - 2012
A1 - Elston,Julie
KW - Finance
KW - OSU-Cascades
JA - Annual Academy of Management Conference
CY - Boston
U2 - c
U4 - 59340646400
ID - 59340646400
ER -
TY - HEAR
T1 - The Sources of Legitimacy for New Venture Angel Investors
Y1 - 2012
A1 - Becker-Blease,John
KW - Finance
JA - European Foundation for Management Development
CY - Maastrict
U2 - c
U4 - 56745467904
ID - 56745467904
ER -
TY - CHAP
T1 - Stakeholder-Focused Corporate Investment
Y1 - 2012
A1 - Becker-Blease,John
KW - Finance
CP - 1
U2 - d
U4 - 48705081344
ID - 48705081344
ER -
TY - HEAR
T1 - When-issued trading in the Indian IPO market
Y1 - 2012
A1 - Mathew,Prem
KW - Finance
JA - Midwest Finance Association Conference
CY - New Orleans
U2 - c
U4 - 49968719872
ID - 49968719872
ER -
TY - HEAR
T1 - When-issued trading in the Indian IPO market
Y1 - 2012
A1 - Yang,Jimmy
KW - Finance
JA - Finance Seminar at National Chengchi University
CY - Taiwan
U2 - c
U4 - 69888423936
ID - 69888423936
ER -
TY - JOUR
T1 - Can Undergraduate Students Make Optimal Decisions about Student Loans?
JF - Journal of Economics and Finance Education
Y1 - 2011
A1 - Chira,Inga
A1 - Chiang,E.
A1 - Houmes,R.
KW - Finance
VL - 11
CP - 1
U2 - a
U4 - 84290875392
ID - 84290875392
ER -
TY - HEAR
T1 - The choice between rights and underwritten equity offerings: Evidence from Chinese stock markets
Y1 - 2011
A1 - Yang,Jimmy
KW - Finance
JA - 2011 FMA Asian Conference
CY - Queenstown, New Zealand
U2 - c
U4 - 53000245248
ID - 53000245248
ER -
TY - JOUR
T1 - Dividends, Executive Compensation, and Agency Costs: Empirical Evidence From Germany
JF - Journal of Accounting and Finance
Y1 - 2011
A1 - Elston,Julie
A1 - Bhattacharyya,Nalanaksha
KW - Finance
KW - OSU-Cascades
VL - 11
CP - 1
U2 - a
U4 - 33797423105
ID - 33797423105
ER -
TY - JOUR
T1 - The Effect of Gender Diversity on Angel Group Investment
JF - Entrepreneurship, Theory and Practice
Y1 - 2011
A1 - Becker-Blease,John
A1 - Sohl,Jeff
KW - Finance
AB - We 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.
VL - 35
CP - 4
U2 - a
U4 - 13573113857
ID - 13573113857
ER -
TY - JOUR
T1 - Emerging market crises and US equity market returns
JF - Global Finance Journal
Y1 - 2011
A1 - Berger,Dave
A1 - Turtle,Harry J
KW - Finance
AB - We 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.
VL - 22
CP - 1
U2 - a
U4 - 31303708673
ID - 31303708673
ER -
TY - HEAR
T1 - Entrepreneurship in China
Y1 - 2011
A1 - Elston,Julie
KW - Finance
KW - OSU-Cascades
JA - Annual Academy of International Business Conference -SE
CY - Orlando, FL
U2 - c
U4 - 50792548352
ID - 50792548352
ER -
TY - JOUR
T1 - Financing the Entrepreneurial Decision: An Empirical Approach Using Experimental Data on US High Technology Entrepreneurs
JF - Small Business Economics
Y1 - 2011
A1 - Elston,Julie
A1 - Audretsch,David B.
KW - Finance
KW - OSU-Cascades
AB - This 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.
VL - 36
CP - 2
U2 - a
U4 - 8489404417
ID - 8489404417
ER -
TY - JOUR
T1 - Governance and Innovation
JF - Journal of Corporate Finance
Y1 - 2011
A1 - Becker-Blease,John
KW - Finance
VL - 17
CP - 4
U2 - a
U4 - 17354657793
ID - 17354657793
ER -
TY - JOUR
T1 - International diversification with frontier markets
JF - Journal of Financial Economics
Y1 - 2011
A1 - Berger,Dave
A1 - Pukthuanthong,Kuntara
A1 - Yang,Jimmy
KW - Finance
AB - We 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.
VL - 101
CP - 1
U2 - a
U4 - 30702147585
ID - 30702147585
ER -
TY - JOUR
T1 - Private Debt, Unused Credit Lines, and Seasoned Equity Offerings
JF - Quarterly Review of Economics and Finance
Y1 - 2011
A1 - Liu,Yang
A1 - Yang,Jimmy
KW - Finance
AB - We 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.
VL - 51
CP - 4
U2 - a
U4 - 2658560001
ID - 2658560001
ER -
TY - HEAR
T1 - Reconsidering Price Limit Effectiveness
Y1 - 2011
A1 - Yang,Jimmy
KW - Finance
JA - 2011 Asian Finance Association meeting
CY - Macao
U2 - c
U4 - 53000275968
ID - 53000275968
ER -
TY - HEAR
T1 - Reconsidering Price Limit Effectiveness
Y1 - 2011
A1 - Yang,Jimmy
KW - Finance
JA - Finance seminar at University of New South Wales
CY - Sydney, Australia
U2 - c
U4 - 53000314880
ID - 53000314880
ER -
TY - JOUR
T1 - Testing the CAPM across observed and fundamental returns
JF - Applied Financial Economics
Y1 - 2011
A1 - Berger,Dave
KW - Finance
AB - The 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.
VL - 21
CP - 9
U2 - a
U4 - 10924781569
ID - 10924781569
ER -
TY - JOUR
T1 - The Valuation Effect of Accounting Standard 158 on Firms with High and Low Financial Risk
JF - Atlantic Economic Journal
Y1 - 2011
A1 - Houmes,B.
A1 - Chira,Inga
A1 - Boylan,B.
KW - Finance
VL - 39
CP - 1
U2 - a
U4 - 84291035136
ID - 84291035136
ER -
TY - HEAR
T1 - Agency Costs, Dividends and Executive Compensation: Empirical Evidence from Germany
Y1 - 2010
A1 - Elston,Julie
KW - Finance
KW - OSU-Cascades
JA - Annual Academy of International Business- Southeast USA
CY - Tampa, FL
U2 - c
U4 - 29656944641
ID - 29656944641
ER -
TY - HEAR
T1 - DIVIDENDS, EXECUTIVE COMPENSATION, AND AGENCY COSTS:
Y1 - 2010
A1 - Elston,Julie
KW - Finance
KW - OSU-Cascades
JA - Annual Meetings of the Academy of Finance
CY - Chicago Il, USA
U2 - c
U4 - 21424404481
ID - 21424404481
ER -
TY - JOUR
T1 - Does Inclusion in a Smaller S&P Index Create Value?
JF - Financial Review
Y1 - 2010
A1 - Becker-Blease,John
A1 - Paul,Donna
KW - Finance
AB - This 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.
VL - 45
CP - 2
U2 - a
U4 - 13573095425
ID - 13573095425
ER -
TY - JOUR
T1 - Employees, Firm Size, and Profitability in U.S. Manufacturing Industries
JF - Investment Management and Financial Innovations
Y1 - 2010
A1 - Becker-Blease,John
A1 - Kaen,Fred
A1 - Etebari,Ahmad
A1 - Baumann,Hans
KW - Finance
AB - This 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.
VL - 7
CP - 2
U2 - a
U4 - 29170927617
ID - 29170927617
ER -
TY - HEAR
T1 - Entrepreneurial Foresight and the Endogenous Choice of Market Intermediaries in Japanese IPOs
Y1 - 2010
A1 - Khoury,Theodore
A1 - Mathew,Prem
A1 - Hibara,Nobuhiko
KW - Entrepreneurship
KW - Finance
KW - Strategy & Entrepreneurship
JA - Academy of Management Annual Meeting
CY - Montreal, Canada
U2 - c
U4 - 22397325313
ID - 22397325313
ER -
TY - HEAR
T1 - Financing Entrepreneurship and Innovation
Y1 - 2010
A1 - Elston,Julie
KW - Finance
KW - OSU-Cascades
JA - Meeting Global Challenges: US-German Innovation Policy
CY - Washington DC
U2 - c
U4 - 29657047041
ID - 29657047041
ER -
TY - HEAR
T1 - Firm Growth and Gibrat’s Law
Y1 - 2010
A1 - Elston,Julie
KW - Finance
KW - OSU-Cascades
JA - Colloquium for Young Scientists on Understanding Firm Growth
CY - Stockholm Sweden
U2 - c
U4 - 29654937601
ID - 29654937601
ER -
TY - JOUR
T1 - The Impact of Gender on Voluntary and Involuntary Executive Departure
JF - Economic Inquiry
Y1 - 2010
A1 - Becker-Blease,John
A1 - Elkinawy,Susan
A1 - Stater,Mark
KW - Finance
AB - We 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 dominated
VL - 48
CP - 4
U2 - a
U4 - 13572941825
ID - 13572941825
ER -
TY - HEAR
T1 - International diversification with frontier markets
Y1 - 2010
A1 - Berger,Dave
A1 - Pukthuanthong,Kuntara
A1 - Yang,Jimmy
KW - Finance
JA - NTU Seminar
CY - Taipei
U2 - c
U4 - 33400158209
ID - 33400158209
ER -
TY - HEAR
T1 - International Diversification with Frontier Markets
Y1 - 2010
A1 - Berger,Dave
A1 - Yang,Jimmy
A1 - Pukthuanthong,Kuntara
KW - Finance
JA - Financial Management Association
CY - New York, New York
U2 - c
U4 - 33700190209
ID - 33700190209
ER -
TY - JOUR
T1 - Investor perceptions and volatility within the risk-return tradeoff
JF - Applied Financial Economics
Y1 - 2010
A1 - Berger,Dave
KW - Finance
AB - Conditional 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.
VL - 20
CP - 13
U2 - a
U4 - 16105814017
ID - 16105814017
ER -
TY - HEAR
T1 - Legitimacy and Angel Investment
Y1 - 2010
A1 - Becker-Blease,John
KW - Finance
JA - The Institute for Small Business & Entrepreneurship
CY - London, England
U2 - c
U4 - 33870034945
ID - 33870034945
ER -
TY - JOUR
T1 - Risk Attitudes, Wealth and Sources of Entrepreneurial Start-up Capital
JF - Journal of Economic Behavior and Organization
Y1 - 2010
A1 - Elston,Julie
KW - Finance
KW - OSU-Cascades
AB - This 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.
VL - 76
UR - www.elsevier.com/locate/jebo
CP - 1
U2 - a
U4 - 19827433473
ID - 19827433473
ER -
TY - JOUR
T1 - Venture Capital, Ownership Structure, Accounting Standards and IPO Underpricing: Evidence from Germany
JF - Journal of Economics and Business
Y1 - 2010
A1 - Elston,Julie
A1 - Yang,Jimmy
KW - Finance
KW - OSU-Cascades
AB - This 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.
VL - 62
CP - Special Issue
U2 - a
U4 - 11894646785
ID - 11894646785
ER -
TY - JOUR
T1 - A censored stochastic volatility approach to the estimation of price limit moves
JF - Journal of Empirical Finance
Y1 - 2009
A1 - Hsieh,Ping-Hung
A1 - Yang,Jimmy
KW - Finance
KW - Supply Chain
AB - A 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.
VL - 16
CP - 2
U2 - a
U4 - 2658519041
ID - 2658519041
ER -
TY - JOUR
T1 - Corporate Governance and Capital Accumulation: Firm Level Evidence from Italy
JF - Scottish Journal of Political Economy
Y1 - 2009
A1 - Elston,Julie
A1 - Rondi,Laura
KW - Finance
KW - OSU-Cascades
AB - This 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.
VL - 56
CP - 6
U2 - a
U4 - 8489428993
ID - 8489428993
ER -
TY - CHAP
T1 - Corporate Responsibility in Finance
Y1 - 2009
A1 - Becker-Blease,John
KW - Finance
VL - 2009
CP - 1
U2 - d
U4 - 17354780673
ID - 17354780673
ER -
TY - HEAR
T1 - Dividends, Executive Compensation, and Agency Costs
Y1 - 2009
A1 - Elston,Julie
KW - Finance
KW - OSU-Cascades
JA - European Financial Management Symposium 2009
CY - Milan, Italy
U2 - c
U4 - 14042884097
ID - 14042884097
ER -
TY - JOUR
T1 - Effect of price limits: initial public offerings versus seasoned equities
JF - International Review of Finance
Y1 - 2009
A1 - Kim,Yong H.
A1 - Yang,Jimmy
KW - Finance
AB - In 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.
VL - 9
CP - 3
U2 - a
U4 - 649912320
ID - 649912320
ER -
TY - JOUR
T1 - The efficiency of international information flow: Evidence from the ETF and CEF Prices
JF - International Review of Financial Analysis
Y1 - 2009
A1 - Hughen,C.
A1 - Mathew,Prem
KW - Finance
AB - While 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.
VL - 18
CP - 1-2
U2 - a
U4 - 12547627009
ID - 12547627009
ER -
TY - HEAR
T1 - Emerging Market Contagion
Y1 - 2009
A1 - Berger,Dave
A1 - Turtle,H J
KW - Finance
JA - Midwest Finance Association
CY - Chicago
U2 - c
U4 - 14167050241
ID - 14167050241
ER -
TY - HEAR
T1 - Financing the Entrepreneurial Decision: An Empirical Approach Using Experimental Data on US High Technology Entrepreneurs
Y1 - 2009
A1 - Elston,Julie
KW - Finance
KW - OSU-Cascades
JA - Annual Ringberg Conference
CY - Germany
U2 - c
U4 - 13017993217
ID - 13017993217
ER -
TY - HEAR
T1 - Governance and Innovation
Y1 - 2009
A1 - Becker-Blease,John
KW - Finance
JA - Financial Management Association
CY - Reno, NV
U2 - c
U4 - 22462296065
ID - 22462296065
ER -
TY - HEAR
T1 - Integration Of Stakeholderism/Sustainability Into The Finance Curriculum
Y1 - 2009
A1 - Becker-Blease,John
KW - Finance
JA - Aspen Institute Business and Society in Practice
U2 - c
U4 - 27370934272
ID - 27370934272
ER -
TY - JOUR
T1 - The magnet effect of price limits: a logit approach
JF - Journal of Empirical Finance
Y1 - 2009
A1 - Hsieh,Ping-Hung
A1 - Kim,Yong H
A1 - Yang,Jimmy
KW - Finance
KW - Supply Chain
AB - We 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.
VL - 16
CP - 5
U2 - a
U4 - 2658545665
ID - 2658545665
ER -
TY - JOUR
T1 - Time variability in market risk aversion
JF - Journal of Financial Research
Y1 - 2009
A1 - Berger,Dave
A1 - Turtle,Harry J
KW - Finance
AB - We 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.
VL - 32
UR - http://www.blackwellpublishing.com/journal.asp?ref=0270-2592
CP - 3
U2 - a
U4 - 10695460865
ID - 10695460865
ER -
TY - HEAR
T1 - The Advisory Role of the Board of Directors
Y1 - 2008
A1 - Becker-Blease,John
KW - Finance
JA - Financial Management Association
CY - Dallas, TX
U2 - c
U4 - 13572597761
ID - 13572597761
ER -
TY - HEAR
T1 - CEO Compensation and the Market for Corporate Control
Y1 - 2008
A1 - Becker-Blease,John
KW - Finance
JA - Financial Management Association
CY - Dallas, TX
U2 - c
U4 - 13572642817
ID - 13572642817
ER -
TY - CONF
T1 - Confidence and Angel Investment: Does Sex Matter?
T2 - Frontiers of Entrepreneurship Research
Y1 - 2008
A1 - Becker-Blease,John
A1 - Sohl,Jeff
KW - Finance
JA - Frontiers of Entrepreneurship Research
CY - Boston, MA
VL - 2008
U2 - b
U4 - 17354749953
ID - 17354749953
ER -
TY - HEAR
T1 - Dividends and Agency Issues: Empirical Evidence From Germany
Y1 - 2008
A1 - Elston,Julie
KW - Finance
KW - OSU-Cascades
JA - Atlantic Schools of Business Conference
CY - St. John's Newfoundland
U2 - c
U4 - 10095415297
ID - 10095415297
ER -
TY - HEAR
T1 - Dividends and Agency Issues: Empirical Evidence From Germany
Y1 - 2008
A1 - Elston,Julie
KW - Finance
KW - OSU-Cascades
JA - Atlantic Schools of Business Conference
CY - St. John's Newfoundland
U2 - c
U4 - 11894775809
ID - 11894775809
ER -
TY - JOUR
T1 - Do Corporate Governance Attributes Affect Adverse Selection Costs? Evidence from Seasoned Equity Offerings
JF - Review of Quantitative Finance and Accounting
Y1 - 2008
A1 - Becker-Blease,John
A1 - Irani,Afshad
KW - Finance
VL - 30
CP - 3
U2 - a
U4 - 13572915201
ID - 13572915201
ER -
TY - HEAR
T1 - Do Men and Women Angels Invest Differently?
Y1 - 2008
A1 - Becker-Blease,John
KW - Finance
JA - Babson College Entrepreneurship Research Conference
CY - Babson Park, MA
U2 - c
U4 - 13572626433
ID - 13572626433
ER -
TY - JOUR
T1 - The Effect of Price Limits on Intraday Volatility and Information Asymmetry
JF - Pacific-Basin Finance Journal
Y1 - 2008
A1 - Kim,Yong H.
A1 - Yang,Jimmy
KW - Finance
AB - We 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.
VL - 16
CP - 5
U2 - a
U4 - 6360668161
ID - 6360668161
ER -
TY - HEAR
T1 - The Efficiency of International Information Flow: Evidence from the ETF and CEF Prices
Y1 - 2008
A1 - Mathew,Prem
A1 - Hughen,J Chris
KW - Finance
JA - Financial Management Association International
CY - Dallas, Texas
U2 - c
U4 - 14217467905
ID - 14217467905
ER -
TY - HEAR
T1 - Emerging from Bankruptcy with When-Issued Trading
Y1 - 2008
A1 - Brooks,Raymond
A1 - Yang,Jimmy
KW - Finance
JA - Financial Management Association annual meeting
CY - Dallas
U2 - c
U4 - 11894759425
ID - 11894759425
ER -
TY - HEAR
T1 - Financing Entrepreneurship
Y1 - 2008
A1 - Elston,Julie
KW - Finance
KW - OSU-Cascades
JA - The Entrepreneurial Process
CY - Jena Germany
U2 - c
U4 - 10095374337
ID - 10095374337
ER -
TY - HEAR
T1 - How Does Bunching Affect Bid-Ask Spread Component Estimation?
Y1 - 2008
A1 - Mathew,Prem
A1 - Michayluk,David
KW - Finance
JA - Financial Management Association International
CY - Dallas, Texas
U2 - c
U4 - 14217410561
ID - 14217410561
ER -
TY - HEAR
T1 - The Impact of Accounting Standards and Ownership Structure on IPO Underpricing: Evidence from Germany's Neuer Markt
Y1 - 2008
A1 - Yang,Jimmy
A1 - Elston,Julie
KW - Finance
KW - OSU-Cascades
JA - Academy of Entrepreneurial Finance
CY - Las Vegas, NV
U2 - c
U4 - 10095396865
ID - 10095396865
ER -
TY - HEAR
T1 - The impact of accounting standards and ownership structure on IPO underpricing: evidence from Germany’s Neuer Market
Y1 - 2008
A1 - Yang,Jimmy
A1 - Elston,Julie
KW - Finance
KW - OSU-Cascades
JA - Academy of Entrepreneurial Finance Conference
CY - Las Vegas
U2 - c
U4 - 14184595457
ID - 14184595457
ER -
TY - HEAR
T1 - The Impact of Gender on Voluntary and Involuntary Executive Departure
Y1 - 2008
A1 - Becker-Blease,John
KW - Finance
JA - California Corporate Finance Conference
CY - Loyola, CA
U2 - c
U4 - 13572581377
ID - 13572581377
ER -
TY - HEAR
T1 - Incorporating Stakeholders into Corporate Finance
Y1 - 2008
A1 - Becker-Blease,John
KW - Finance
JA - Financial Education Association
CY - Hilton Head, SC;
U2 - c
U4 - 13572675585
ID - 13572675585
ER -
TY - HEAR
T1 - Integrating stakeholderism into finance.
Y1 - 2008
A1 - Becker-Blease,John
KW - Finance
JA - Stakeholder Marketing Consortium
CY - Boston, MA
U2 - c
U4 - 17582645249
ID - 17582645249
ER -
TY - HEAR
T1 - Integrating sustainability into finance discipline
Y1 - 2008
A1 - Becker-Blease,John
KW - Finance
JA - Financial Management Association
CY - Dallas, TX
U2 - c
U4 - 17582630913
ID - 17582630913
ER -
TY - JOUR
T1 - Mergers and Acquisitions as a Response to the Deregulation of the Electric Power Industry: Value Creation or Value Destruction?
JF - Journal of Regulatory Economics
Y1 - 2008
A1 - Becker-Blease,John
A1 - Goldberg,Larry
A1 - Kaen,Fred R.
KW - Finance
VL - 33
CP - 1
U2 - a
U4 - 13572874241
ID - 13572874241
ER -
TY - JOUR
T1 - Relative Performance of Trading Halts and Price Limits: Evidence from the Spanish Stock Exchange
JF - International Review of Economics and Finance
Y1 - 2008
A1 - Kim,Yong H.
A1 - Yague,Jose
A1 - Yang,Jimmy
KW - Finance
AB - We 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.
VL - 17
CP - 2
U2 - a
U4 - 649914368
ID - 649914368
ER -
TY - HEAR
T1 - Time Variability in Market Risk Aversion
Y1 - 2008
A1 - Berger,Dave
KW - Finance
JA - Midwest Finance Association Annual Meeting
U2 - c
U4 - 10695579649
ID - 10695579649
ER -
TY - JOUR
T1 - The Value of Stability Ratings to the Canadian Income Trust Market
JF - Applied Financial Economics
Y1 - 2008
A1 - Neeliah-Chinniah,Priscilla
A1 - Mathew,Prem
A1 - Yildirim,Semih
KW - Finance
VL - 18
CP - 18
U2 - a
U4 - 2718355457
ID - 2718355457
ER -
TY - JOUR
T1 - Angel Capital Access for Women-Entrepreneurs
JF - Journal of Business Venturing
Y1 - 2007
A1 - Becker-Blease,John
A1 - Sohl,Jeff
KW - Finance
VL - 22
U2 - a
U4 - 13572794369
ID - 13572794369
ER -
TY - JOUR
T1 - Are Foreign Issuers Complying with Regulation Fair Disclosure?
JF - Journal of International Financial Markets, Institutions and Money
Y1 - 2007
A1 - Mathew,Prem
A1 - Michayluk,D.
A1 - Kofman,P.
KW - Finance
VL - 17
CP - 3
U2 - a
U4 - 648288256
ID - 648288256
ER -
TY - HEAR
T1 - Characterizing the Entrepreneur
Y1 - 2007
A1 - Elston,Julie
KW - Finance
KW - OSU-Cascades
JA - Central Busness Roundtable
CY - Riverwalk Hotel
U2 - c
U4 - 2657712129
ID - 2657712129
ER -
TY - HEAR
T1 - The choice between rights and underwritten equity offerings: evidence from the Chinese Stock Markets
Y1 - 2007
A1 - Dang,Li
A1 - Yang,Jimmy
KW - Accounting
KW - Finance
JA - Financial Management Association Meeting
CY - Orlando
U2 - c
U4 - 8582137857
ID - 8582137857
ER -
TY - HEAR
T1 - Confidence and Angel Investors: Does Sex Matter?
Y1 - 2007
A1 - Becker-Blease,John
KW - Finance
JA - Babson College Entrepreneurship Research Conference
U2 - c
U4 - 13576132609
ID - 13576132609
ER -
TY - HEAR
T1 - Do Men and Women Angels Invest Differently?
Y1 - 2007
A1 - Becker-Blease,John
KW - Finance
JA - USASBE Conference
CY - Dallas, TX
U2 - c
U4 - 13572620289
ID - 13572620289
ER -
TY - HEAR
T1 - Financing Entrepreneurship
Y1 - 2007
A1 - Elston,Julie
KW - Finance
KW - OSU-Cascades
JA - Research Brown Bag
CY - OSU Cascades
U2 - c
U4 - 8487419905
ID - 8487419905
ER -
TY - HEAR
T1 - Financing Entrepreneurship
Y1 - 2007
A1 - Elston,Julie
KW - Finance
KW - OSU-Cascades
JA - Ringberg Conference on Strategic Entrepreneurship
CY - Tegernsee Germany
U2 - c
U4 - 2657716225
ID - 2657716225
ER -
TY - HEAR
T1 - The Impact of Gender on Voluntary and Involuntary Executive Departure
Y1 - 2007
A1 - Becker-Blease,John
KW - Finance
JA - American Society of Business & Behavioral Sciences
CY - Las Vegas, NV
U2 - c
U4 - 13572569089
ID - 13572569089
ER -
TY - HEAR
T1 - The Magnet Effect of Price Limits: Evidence from Transactions Data
Y1 - 2007
A1 - Hsieh,Ping-Hung
A1 - Kim,Yong H.
A1 - Yang,Jimmy
KW - Finance
KW - Supply Chain
JA - Asian Finance Association Meeting
CY - Hong Kong
U2 - c
U4 - 8582131713
ID - 8582131713
ER -
TY - JOUR
T1 - Media Reporting of Executive Resignations: Is There a Gender Difference?
JF - Journal of Business and Behavioral Sciences
Y1 - 2007
A1 - Becker-Blease,John
A1 - Elkinawy,Susan
A1 - Stater,Mark
KW - Finance
VL - 16
CP - 2
U2 - a
U4 - 13572843521
ID - 13572843521
ER -
TY - JOUR
T1 - Shareholder Protection and the Cost of Capital: Evidence from German and Italian Firms
JF - Statistica Applicata (Italian Journal of Applied Statistics)
Y1 - 2007
A1 - Elston,Julie
A1 - Rondi,Laura
KW - Finance
KW - OSU-Cascades
AB - We 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.
VL - 18
CP - 2
U2 - a
U4 - 2477916161
ID - 2477916161
ER -
TY - JOUR
T1 - Teaching an Old Dog New Tricks: Using the Dividend Growth Model in Financial Planning
JF - Journal of Economics and Finance Education
Y1 - 2007
A1 - Brooks,Raymond
A1 - Yang,Jimmy
KW - Finance
AB - The 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.
VL - 6
CP - 2
U2 - a
U4 - 2658555905
ID - 2658555905
ER -
TY - HEAR
T1 - Time variability in market risk aversion
Y1 - 2007
A1 - Berger,Dave
KW - Finance
JA - Financial Management Association Doctoral Consortium
U2 - c
U4 - 10695571457
ID - 10695571457
ER -
TY - HEAR
T1 - Untitled
Y1 - 2007
A1 - Romero,Madeleine
KW - Finance
CY - Portland, OR
U2 - c
U4 - 27371020288
ID - 27371020288
ER -
TY - HEAR
T1 - Untitled
Y1 - 2007
A1 - Yang,Jimmy
KW - Finance
U2 - c
U4 - 27371028480
ID - 27371028480
ER -
TY - HEAR
T1 - Are banking relations beneficial to established firms? evidence from seasoned equity offerings
Y1 - 2006
A1 - Yang,Jimmy
A1 - Liu,Yang
KW - Finance
JA - Financial Management Association Meeting
CY - Salt Lake City, Utah
U2 - c
U4 - 649936896
ID - 649936896
ER -
TY - JOUR
T1 - Can Institutional Change Impact High-Technology Firm Growth: Evidence from Germany's Neuer Markt
JF - Journal of Productivity Analysis
Y1 - 2006
A1 - Audretsch,David B.
A1 - Elston,Julie
KW - Finance
KW - OSU-Cascades
AB - To 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.
VL - 25
CP - 1
U2 - a
U4 - 650092544
ID - 650092544
ER -
TY - HEAR
T1 - Cooling-off effect of price limits: evidence from transactions data
Y1 - 2006
A1 - Yang,Jimmy
A1 - Kim,Yong H
KW - Finance
JA - Globalization and Economic Asymmetries Conference
CY - Boston
U2 - c
U4 - 2658510849
ID - 2658510849
ER -
TY - HEAR
T1 - The Dynamics of International Information Flow: Evidence from Daily Country FUnds
Y1 - 2006
A1 - Mathew,Prem
A1 - Hughen,Chris
KW - Finance
JA - Academy of Financial Services
CY - Salt Lake City, Utah
U2 - c
U4 - 2718386177
ID - 2718386177
ER -
TY - HEAR
T1 - The Dynamics of International Information Flow: Evidence from Daily Data on Country Funds
Y1 - 2006
A1 - Mathew,Prem
A1 - Hughen,Chris
KW - Finance
JA - Midwest Finance Association
CY - Chicago
U2 - c
U4 - 2718427137
ID - 2718427137
ER -
TY - JOUR
T1 - An Examination of the Differential Impact of Regulation FD on Analysts' Forecast Accuracy
JF - Financial Review
Y1 - 2006
A1 - Findlay,S.
A1 - Mathew,Prem
KW - Finance
AB - Regulation 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.
VL - 41
CP - 1
U2 - a
U4 - 648292352
ID - 648292352
ER -
TY - JOUR
T1 - Finance, Control and Profitability: An Evaluation of German Bank Influence
JF - Journal of Economic Behavior and Organization
Y1 - 2006
A1 - Chirinko,Robert S.
A1 - Elston,Julie
KW - Finance
KW - OSU-Cascades
AB - Bank 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).
VL - 59
CP - 1
U2 - a
U4 - 650094592
ID - 650094592
ER -
TY - HEAR
T1 - Financing Entrpreneurship
Y1 - 2006
A1 - Elston,Julie
KW - Finance
KW - OSU-Cascades
JA - Max Planck Workshop on Entrepreneurship
CY - Jena Germany
U2 - c
U4 - 2657728513
ID - 2657728513
ER -
TY - HEAR
T1 - The Impact of Gender on Voluntary and Involuntary Executive Departure
Y1 - 2006
A1 - Becker-Blease,John
KW - Finance
JA - Southern Economics Association
CY - Charleston, SC
U2 - c
U4 - 13572556801
ID - 13572556801
ER -
TY - HEAR
T1 - The magnet effect of price limits: evidence from transactions data
Y1 - 2006
A1 - Yang,Jimmy
A1 - Hsieh,Ping-Hung
A1 - Kim,Yong H.
KW - Finance
KW - Supply Chain
JA - Financial Management Association meeting
CY - Salt Lake City, Utah
U2 - c
U4 - 649934848
ID - 649934848
ER -
TY - HEAR
T1 - The Magnet Effect of Price Limits: Evidence from Transactions Data
Y1 - 2006
A1 - Hsieh,Ping-Hung
A1 - Kim,Yong H.
A1 - Yang,Jimmy
KW - Finance
KW - Supply Chain
JA - National Joint Statistical Meetings
CY - Seattle, Washington
U2 - c
U4 - 2722437121
ID - 2722437121
ER -
TY - JOUR
T1 - Stock Liquidity and Investment Opportunities: Evidence from Index Additions
JF - Financial Management
Y1 - 2006
A1 - Becker-Blease,John
A1 - Paul,Donna
KW - Finance
VL - 35
CP - 3
U2 - a
U4 - 13572726785
ID - 13572726785
ER -
TY - HEAR
T1 - Angel Capital and Women Entrepreneurs
Y1 - 2005
A1 - Becker-Blease,John
KW - Finance
JA - Babson Entrepreneurship Research Conference
CY - Boston, MA
U2 - c
U4 - 13576116225
ID - 13576116225
ER -
TY - JOUR
T1 - Is the Book-to-Market a Measure of Risk
JF - Journal of Financial Research
Y1 - 2005
A1 - Peterkort,Bob
A1 - Nielsen,Jim
KW - Finance
AB - We 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.
VL - 28
CP - 4
U2 - a
U4 - 649125888
ID - 649125888
ER -
TY - HEAR
T1 - The Dynamics of International Information Flow: Evidence from Daily Data on Country Funds
Y1 - 2005
A1 - Mathew,Prem
A1 - Hughen,Chris
KW - Finance
JA - Financial Management Association
CY - Chicago
U2 - c
U4 - 2718445569
ID - 2718445569
ER -
TY - JOUR
T1 - The Effects of Market Inefficiencies on Trading Strategies for Country Funds
JF - International Journal of Finance
Y1 - 2005
A1 - Hughen ,J. Christopher
A1 - Mathew,Prem
A1 - Ragan,Kent P.
KW - Finance
AB - Economists 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.
VL - 16
CP - 2
U2 - a
U4 - 648286208
ID - 648286208
ER -
TY - HEAR
T1 - A NAV A DAY Keeps the Inefficiency Away? Fund Trading Strategies Using Daily Values
Y1 - 2005
A1 - Mathew,Prem
A1 - Hughen,Chris
A1 - Ragan,Kent
KW - Finance
JA - Financial Management Association
CY - Chicago
U2 - c
U4 - 2718496769
ID - 2718496769
ER -
TY - JOUR
T1 - A NAV a Day Keeps the Inefficiency Away? Fund Trading Strategies using Daily Values
JF - Financial Services Review
Y1 - 2005
A1 - Hughen,J. C.
A1 - Mathew,Prem
A1 - Ragan,K.
KW - Finance
AB - Previous 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.
VL - 14
U2 - a
U4 - 648290304
ID - 648290304
ER -
TY - HEAR
T1 - A NAV a Day Keeps the Inefficiency Away? Fund Trading Strategies using Daily Values
Y1 - 2005
A1 - Mathew,Prem
A1 - Hughen ,J. C.
A1 - Ragan,K.
KW - Finance
JA - Academy of Finance Meeting
U2 - c
U4 - 648304640
ID - 648304640
ER -
TY - HEAR
T1 - Post-Deregulation Restructuring of the Electric Power Industry
Y1 - 2005
A1 - Becker-Blease,John
KW - Finance
JA - Eastern Finance Association
CY - Norfolk, VA
U2 - c
U4 - 13572444161
ID - 13572444161
ER -
TY - HEAR
T1 - The Value of Visibility
Y1 - 2005
A1 - Becker-Blease,John
KW - Finance
JA - Washington State University
CY - Pullman, WA
U2 - c
U4 - 13576187905
ID - 13576187905
ER -
TY - HEAR
T1 - The Value of Visibility
Y1 - 2005
A1 - Becker-Blease,John
KW - Finance
JA - Financial Management Association
CY - Chicago, IL
U2 - c
U4 - 13572487169
ID - 13572487169
ER -
TY - JOUR
T1 - Bank Influence, Firm Performance and Survival
JF - Corporate Ownership and Control
Y1 - 2004
A1 - Elston,Julie
KW - Finance
KW - OSU-Cascades
VL - 1
CP - 2
U2 - a
U4 - 650098688
ID - 650098688
ER -
TY - HEAR
T1 - Cooling-off and magnet effects of price limits
Y1 - 2004
A1 - Yang,Jimmy
KW - Finance
JA - Conference on the Theories and Practices of Securities and Financial Markets
CY - Kaohsiung, Taiwan
U2 - c
U4 - 649916416
ID - 649916416
ER -
TY - HEAR
T1 - Dividend Policy, Agency Costs and Institutional Ownership
Y1 - 2004
A1 - Elston,Julie
KW - Finance
KW - OSU-Cascades
JA - Annual meetings of the European Association for Research in Industrial Economics
CY - Berlin, Germany
U2 - c
U4 - 650158080
ID - 650158080
ER -
TY - HEAR
T1 - The effect of price limits: initial public offerings vs. seasoned equities
Y1 - 2004
A1 - Yang,Jimmy
A1 - Kim,Yong H.
KW - Finance
JA - Financial Management Association Annual Meeting
CY - New Orleans LA
U2 - c
U4 - 649920512
ID - 649920512
ER -
TY - HEAR
T1 - The Effectiveness of VC Firm Involvement in the Japanese IPO Process
Y1 - 2004
A1 - Mathew,Prem
A1 - Hibara ,N.
KW - Finance
JA - Financial Management Association Meeting
U2 - c
U4 - 648302592
ID - 648302592
ER -
TY - JOUR
T1 - Grandstanding and Venture Capital Firms in Newly Established IPO Markets
JF - Journal of Entrepreneurial Finance
Y1 - 2004
A1 - Hibara,Nobuhiko
A1 - Mathew,Prem
KW - Finance
AB - The 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.
U2 - a
U4 - 648294400
ID - 648294400
ER -
TY - JOUR
T1 - The Interaction between Opening Call Auctions and Ongoing Trade: Evidence from the NYSE
JF - Review of Financial Economics
Y1 - 2004
A1 - Brooks,Raymond
A1 - Moulton,Jonathan
KW - Finance
AB - We 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.
VL - 13
CP - 4
U2 - a
U4 - 644730880
ID - 644730880
ER -
TY - HEAR
T1 - Post-Deregulation Restructuring of the Electric Power Industry
Y1 - 2004
A1 - Becker-Blease,John
KW - Finance
JA - Financial Management Association
CY - New Orleans, LA
U2 - c
U4 - 13572425729
ID - 13572425729
ER -
TY - HEAR
T1 - Post-Deregulation Restructuring of the Electric Power Industry
Y1 - 2004
A1 - Becker-Blease,John
KW - Finance
JA - European Financial Management Association
CY - Bern, SW
U2 - c
U4 - 13572413441
ID - 13572413441
ER -
TY - JOUR
T1 - A Re-examination of Information Flow in Financial Markets: The Impact of Reg FD and Decimalization
JF - Quarterly Journal of Finance and Accounting
Y1 - 2004
A1 - Mathew,Prem
A1 - Hughen,C.
A1 - Ragan,K.
KW - Finance
AB - We 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.
VL - 43
CP - 1-2
U2 - a
U4 - 648298496
ID - 648298496
ER -
TY - HEAR
T1 - Shareholder Protection and the Cost of Capital: Empirical Evidence from German and Italian Firms
Y1 - 2004
A1 - Elston,Julie
KW - Finance
KW - OSU-Cascades
JA - Summer Workshop Measurement Issues in Small Firm Performance
CY - Jena Germany
U2 - c
U4 - 650168320
ID - 650168320
ER -
TY - HEAR
T1 - Valuation Differences under 3 Accounting Standards: Empirical Evidence from Germany's Neuer Markt
Y1 - 2004
A1 - Elston,Julie
KW - Finance
KW - OSU-Cascades
JA - Workshop on Accounting and Economics at the European Institute for Advanced Studies in Management
CY - Frankfurt, Germany
U2 - c
U4 - 650156032
ID - 650156032
ER -
TY - HEAR
T1 - Valuation Differences under 3 Accounting Standards: Empirical Evidence from Germany's Neuer Markt
Y1 - 2004
A1 - Elston,Julie
KW - Finance
KW - OSU-Cascades
JA - Summer Workshop Measurement Issues in Assessing Small Firm Performance
CY - Jena, Germany
U2 - c
U4 - 650160128
ID - 650160128
ER -
TY - JOUR
T1 - What makes circuit breakers attractive to financial markets? A survey
JF - Financial Markets, Institutions and Instruments
Y1 - 2004
A1 - Kim,Yong H.
A1 - Yang,Jimmy
KW - Finance
AB - After 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.
VL - 13
CP - 3
U2 - a
U4 - 649910272
ID - 649910272
ER -
TY - JOUR
T1 - When-Issued Shares, Small Trades and the Variance of Returns around Stock Splits
JF - Journal of Financial Research
Y1 - 2004
A1 - Angel,James
A1 - Brooks,Raymond
A1 - Mathew,Prem
KW - Finance
AB - The 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.
VL - 27
CP - 3
U2 - a
U4 - 644726784
ID - 644726784
ER -
TY - HEAR
T1 - Dividend Policy, Agency Costs and Institutional Ownership in Germany
Y1 - 2003
A1 - Elston,Julie
KW - Finance
KW - OSU-Cascades
JA - American Finance Association meetings
U2 - c
U4 - 650188800
ID - 650188800
ER -
TY - HEAR
T1 - Dividend Policy, Agency Costs and Institutional Ownership in Germany
Y1 - 2003
A1 - Elston,Julie
KW - Finance
KW - OSU-Cascades
JA - Florida Macro Users Group annual meetings
CY - Tampa FL
U2 - c
U4 - 650170368
ID - 650170368
ER -
TY - HEAR
T1 - Does Inclusion in a Smaller S&P Index Create Value?
Y1 - 2003
A1 - Becker-Blease,John
KW - Finance
JA - Financial Management Association
CY - Denver, CO
U2 - c
U4 - 13572462593
ID - 13572462593
ER -
TY - HEAR
T1 - Does Inclusion in a Smaller S&P Index Create Value?
Y1 - 2003
A1 - Becker-Blease,John
KW - Finance
JA - Northern Finance Association
CY - Quebec City, Quebec
U2 - c
U4 - 13572478977
ID - 13572478977
ER -
TY - JOUR
T1 - Executive Compensation and Agency Costs in Germany
JF - Journal of Banking & Finance
Y1 - 2003
A1 - Elston,Julie
A1 - Goldberg,Larry
KW - Finance
KW - OSU-Cascades
AB - With 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.
VL - 27
CP - 7
U2 - a
U4 - 650104832
ID - 650104832
ER -
TY - HEAR
T1 - Finance, Profitability and Control: An Evaluation of German Bank Influence
Y1 - 2003
A1 - Elston,Julie
KW - Finance
KW - OSU-Cascades
JA - Presentation at the University of San Diego
CY - San Diego, CA
U2 - c
U4 - 650162176
ID - 650162176
ER -
TY - JOUR
T1 - Financial Factors and Investment in Belgium, France, Germany, and the United Kingdom: A Comparison Using Company Panel Data
JF - Review of Economics and Statistics
Y1 - 2003
A1 - Bond,Stephen
A1 - Elston,Julie
A1 - Mairesse,Jacques
A1 - Mulkay,Benoit
KW - Finance
KW - OSU-Cascades
AB - We 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.
VL - 85
CP - 1
U2 - a
U4 - 650096640
ID - 650096640
ER -
TY - HEAR
T1 - Financing Technology Growth in the 21st Century: Can Policy Make a Difference?
Y1 - 2003
A1 - Elston,Julie
KW - Finance
KW - OSU-Cascades
JA - Presentation at Geoge Mason University
CY - Fairfax, VA
U2 - c
U4 - 650182656
ID - 650182656
ER -
TY - HEAR
T1 - Financing Technology Growth in the 21st Century: Germany in Transition
Y1 - 2003
A1 - Elston,Julie
KW - Finance
KW - OSU-Cascades
JA - Presentation at California State University - Fullerton
CY - Fullerton, CA
U2 - c
U4 - 650186752
ID - 650186752
ER -
TY - HEAR
T1 - Financing Technology Growth in the 21st Century: Germany in Transition
Y1 - 2003
A1 - Elston,Julie
KW - Finance
KW - OSU-Cascades
JA - Presentation at Rensselaer Polytechnic Institute
CY - Albany, NY
U2 - c
U4 - 650174464
ID - 650174464
ER -
TY - HEAR
T1 - Financing Technology Growth in the 21st Century: Germany in Transition
Y1 - 2003
A1 - Elston,Julie
KW - Finance
KW - OSU-Cascades
JA - Presentation at San Jose State University
CY - TX
U2 - c
U4 - 650153984
ID - 650153984
ER -
TY - JOUR
T1 - How the Equity Market Responds to Unanticipated Events
JF - Journal of Business
Y1 - 2003
A1 - Brooks,Raymond
A1 - Patel,Ajay
A1 - Su,Tie
KW - Finance
AB - We 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.
VL - 76
CP - 1
U2 - a
U4 - 644722688
ID - 644722688
ER -
TY - HEAR
T1 - Price limits and overreaction
Y1 - 2003
A1 - Yang,Jimmy
A1 - Kim,Yong H.
KW - Finance
JA - Financial Management Association Annual Meeting
CY - Denver CO
U2 - c
U4 - 649930752
ID - 649930752
ER -
TY - HEAR
T1 - The relative performance between price limits and trading halts: Spanish evidence
Y1 - 2003
A1 - Yang,Jimmy
A1 - Kim,Yong H.
A1 - Yague,Jose
KW - Finance
JA - Financial Management Association Annual Meeting
CY - Denver CO
U2 - c
U4 - 649922560
ID - 649922560
ER -
TY - HEAR
T1 - The relative performance between price limits and trading halts: Spanish evidence
Y1 - 2003
A1 - Yang,Jimmy
A1 - Kim ,Yong H.
A1 - Yague,Jose
KW - Finance
JA - Seminar at the
CY - Corvallis, OR
U2 - c
U4 - 649924608
ID - 649924608
ER -
TY - HEAR
T1 - Stock Liquidity and Investment Opportunities
Y1 - 2003
A1 - Becker-Blease,John
KW - Finance
JA - Washington State University
CY - Pullman, WA
U2 - c
U4 - 13572386817
ID - 13572386817
ER -
TY - HEAR
T1 - Stock Liquidity and Investment Opportunities
Y1 - 2003
A1 - Becker-Blease,John
KW - Finance
JA - Southern Finance Association
CY - Charleston, SC
U2 - c
U4 - 13572362241
ID - 13572362241
ER -
TY - HEAR
T1 - Teaching an Old Dog New Tricks: Using the Dividend Growth Model in Financial Planning Problems
Y1 - 2003
A1 - Brooks,Raymond
KW - Finance
JA - Annual Meeting of the Midwest Finance Association
CY - St. Louis
U2 - c
U4 - 644737024
ID - 644737024
ER -
TY - HEAR
T1 - Untitled
Y1 - 2003
A1 - Elston,Julie
KW - Finance
KW - OSU-Cascades
U2 - c
U4 - 27370983424
ID - 27370983424
ER -
TY - HEAR
T1 - "California Electricity Futures: The NYMEX Experience"
Y1 - 2002
A1 - Moulton,Jonathan
KW - Finance
JA - Financial Management Association Annual Meeting
U2 - c
U4 - 648892416
ID - 648892416
ER -
TY - HEAR
T1 - Changing Policies and New Economic Growth: Germany in Transition
Y1 - 2002
A1 - Elston,Julie
KW - Finance
KW - OSU-Cascades
JA - Presentation at the School for Policy and Environmental Economics, Institute for European Studies, Indiana University,
CY - Bloomington IN
U2 - c
U4 - 650149888
ID - 650149888
ER -
TY - HEAR
T1 - Changing Policies and New Economic Growth: Germany in Transition
Y1 - 2002
A1 - Elston,Julie
KW - Finance
KW - OSU-Cascades
JA - Presentation at the School of Public Policy, Pepperdine University
CY - Malibu CA
U2 - c
U4 - 650172416
ID - 650172416
ER -
TY - HEAR
T1 - The Digital Economy?
Y1 - 2002
A1 - Elston,Julie
KW - Finance
KW - OSU-Cascades
JA - Orlando Technology Forum on the Digital Economy
CY - Orlando FL
U2 - c
U4 - 650184704
ID - 650184704
ER -
TY - JOUR
T1 - Long-Horizon Seasoned Equity Performance in the Pacific Rim Financial Markets
JF - Review of Financial Economics
Y1 - 2002
A1 - Mathew,Prem
KW - Finance
AB - Previous 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.
VL - 11
CP - 4
U2 - a
U4 - 648296448
ID - 648296448
ER -
TY - HEAR
T1 - A Preliminary Examination of the Relationship Between Firm Size, Growth, and Liquidity in the Neuer Markt
Y1 - 2002
A1 - Elston,Julie
KW - Finance
KW - OSU-Cascades
JA - Presentation at the American Economic Association
CY - Atlanta, GA
U2 - c
U4 - 650180608
ID - 650180608
ER -
TY - HEAR
T1 - A Preliminary Examination of the Relationship Between Firm Size, Growth, and Liquidity in the Neuer Markt
Y1 - 2002
A1 - Elston,Julie
KW - Finance
KW - OSU-Cascades
JA - Meetings of the Western Economic Association
CY - Seattle WA
U2 - c
U4 - 650164224
ID - 650164224
ER -
TY - HEAR
T1 - The relative performance between price limits and trading halts: Spanish evidence
Y1 - 2002
A1 - Yang,Jimmy
A1 - Kim,Yong H.
A1 - Yague,Jose
KW - Finance
JA - Finance workshop at the University of Cincinnati
U2 - c
U4 - 649932800
ID - 649932800
ER -
TY - HEAR
T1 - Stock Liquidity and Investment Opportunities
Y1 - 2002
A1 - Becker-Blease,John
KW - Finance
JA - Babson College
CY - Babson Park, MA
U2 - c
U4 - 13572317185
ID - 13572317185
ER -
TY - HEAR
T1 - Stock Liquidity and Investment Opportunities
Y1 - 2002
A1 - Becker-Blease,John
KW - Finance
JA - Financial Management Association
CY - San Antonio, TX
U2 - c
U4 - 13572339713
ID - 13572339713
ER -
TY - HEAR
T1 - What's New About the New Economy?
Y1 - 2002
A1 - Elston,Julie
KW - Finance
KW - OSU-Cascades
JA - American Business Women's Association Annual Awards Dinner
CY - Winter Park FL
U2 - c
U4 - 650166272
ID - 650166272
ER -
TY - JOUR
T1 - Bank-firm relationships, financing and firm performance in Germany
JF - Economic Letters
Y1 - 2001
A1 - Agarwal,Rajshree
A1 - Elston,Julie
KW - Finance
KW - OSU-Cascades
AB - Close 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.
VL - 72
CP - 2
U2 - a
U4 - 650100736
ID - 650100736
ER -
TY - JOUR
T1 - Does firm size matter? Evidence on the impact of liquidity constraints on firm investment behavior in Germany
JF - International Journal of Industrial Organization
Y1 - 2001
A1 - Audretsch,David B.
A1 - Elston,Julie
KW - Finance
KW - OSU-Cascades
AB - This 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.
VL - 20
CP - 1
U2 - a
U4 - 650102784
ID - 650102784
ER -
TY - HEAR
T1 - Executive Compensation and Agency Costs in Germany
Y1 - 2001
A1 - Elston,Julie
A1 - Goldberg,Larry
KW - Finance
KW - OSU-Cascades
JA - European Association for Research in Industrial Economics annual meeting
CY - Dublin Ireland
U2 - c
U4 - 650190848
ID - 650190848
ER -
TY - HEAR
T1 - Growth of Neuer Markt Firms
Y1 - 2001
A1 - Elston,Julie
KW - Finance
KW - OSU-Cascades
JA - Workshop on Financing the New Economy: A German-US Comparison
CY - Washington DC
U2 - c
U4 - 650178560
ID - 650178560
ER -
TY - HEAR
T1 - The impact of price limits on initial public offerings: evidence from the Taiwan Stock Exchange
Y1 - 2001
A1 - Yang,Jimmy
A1 - Kim,Yong H.
KW - Finance
JA - Midwest Finance Association Annual Meeting
CY - Cleveland OH
U2 - c
U4 - 649928704
ID - 649928704
ER -
TY - HEAR
T1 - The impact of price limits on initial public offerings: evidence from the Taiwan Stock Exchange
Y1 - 2001
A1 - Yang,Jimmy
A1 - Kim,Yong H.
KW - Finance
JA - Financial Management Association Annual Doctoral Student Seminar
CY - Toronto, Canada
U2 - c
U4 - 649926656
ID - 649926656
ER -
TY - HEAR
T1 - The impact of price limits on initial public offerings: evidence from the Taiwan Stock Exchange
Y1 - 2001
A1 - Yang,Jimmy
A1 - Kim,Yong H.
KW - Finance
JA - Finance workshop at the University of Cincinnati
U2 - c
U4 - 649918464
ID - 649918464
ER -
TY - HEAR
T1 - The Neuer Markt: Real and Financial Factors,
Y1 - 2001
A1 - Elston,Julie
KW - Finance
KW - OSU-Cascades
JA - Joint seminar with the Wolfgang Goethe University and the Deutsche Bundesbank
CY - Frankfurt, Germany
U2 - c
U4 - 650176512
ID - 650176512
ER -
TY - JOUR
T1 - The Performance of Firms Before and After They Adopt Accounting-Based Performance Plans
JF - Quarterly Review of Economics and Finance
Y1 - 2001
A1 - Brooks,Raymond
A1 - May,Don O.
A1 - Mishra,Chandra
KW - Finance
AB - This 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.
VL - 41
CP - 2
U2 - a
U4 - 644724736
ID - 644724736
ER -
TY - JOUR
T1 - Using Decision Trees to Manage Capital Budgeting Risk
JF - Management Accounting Quarterly
Y1 - 2001
A1 - Bailes,Jack
A1 - Nielsen,Jim
KW - Accounting
KW - Finance
AB - Forest 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.
CP - Winter
U2 - a
U4 - 644462592
ID - 644462592
ER -
TY - HEAR
T1 - What's New About the New Economy
Y1 - 2001
A1 - Elston,Julie
KW - Finance
KW - OSU-Cascades
JA - Workshop on Financing the New Economy in Germany
CY - Washington DC
U2 - c
U4 - 650151936
ID - 650151936
ER -
TY - HEAR
T1 - Finance for Sourcing Professionals
Y1 - 2000
A1 - Johnson,Robert
KW - Accounting
KW - Finance
KW - MBA
JA - Training Program for Hewlett Packard
CY - H-P sites in Corvallis, ; Dublin Ireland; Aguadilla Puerto Rico; and Singapore
U2 - c
U4 - 646932480
ID - 646932480
ER -
TY - JOUR
T1 - Information Conveyed by Seasoned Security Offerings: Evidence from Components of the Bid-Ask Spread
JF - Review of Financial Economics
Y1 - 2000
A1 - Brooks,Raymond
A1 - Patel,Ajay
KW - Finance
AB - We 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.
VL - 9
CP - 2
U2 - a
U4 - 644728832
ID - 644728832
ER -
TY - HEAR
T1 - Instructional and presentation materials on Corporate Governance and Financial Performance Measures
Y1 - 2000
A1 - Johnson,Robert
KW - Accounting
KW - Finance
KW - MBA
JA - Hewlett Packard Imaging & Printing Group Financial Analyst Convocation
U2 - c
U4 - 646934528
ID - 646934528
ER -
TY - HEAR
T1 - The Interaction between Opening Call Auctions and Ongoing Trade: Evidence from the NYSE and AMEX Exchanges
Y1 - 2000
A1 - Moulton,Jonathan
KW - Finance
JA - Eastern Finance Association Annual Meeting
U2 - c
U4 - 648894464
ID - 648894464
ER -
TY - HEAR
T1 - The Interaction between Opening Call Auctions and Ongoing Trade: Evidence from the NYSE and AMEX
Y1 - 2000
A1 - Brooks,Raymond
A1 - Moulton,Jonathan
KW - Finance
JA - Annual Meeting of the Eastern Finance Association
CY - Myrtle Beach
U2 - c
U4 - 644734976
ID - 644734976
ER -
TY - JOUR
T1 - A Statistical Assessment of Accounting-Based Performance Plans
JF - World at Work Journal
Y1 - 2000
A1 - Brooks,Raymond
A1 - Mishra,Chandra
KW - Finance
VL - 9
CP - 2
U2 - a
U4 - 644720640
ID - 644720640
ER -
TY - HEAR
T1 - Executive Compensation and Agency Costs
Y1 - 1999
A1 - Elston,Julie
KW - Finance
KW - OSU-Cascades
JA - Western Economic Association annual meeting
CY - San Diego CA
U2 - c
U4 - 650192896
ID - 650192896
ER -
TY - HEAR
T1 - Funding Gaps in Germany Industry
Y1 - 1999
A1 - Elston,Julie
KW - Finance
KW - OSU-Cascades
JA - Funding Gap Controversies Conference Plenary Session
CY - Warwick, England
U2 - c
U4 - 650194944
ID - 650194944
ER -
TY - HEAR
T1 - The Interaction between Opening Call Auctions and Ongoing Trade: Evidence from the NYSE and AMEX
Y1 - 1999
A1 - Brooks,Raymond
A1 - Moulton,Jonathan
KW - Finance
JA - Annual Meeting of the Financial Management Association
CY - Orlando, FL
U2 - c
U4 - 644739072
ID - 644739072
ER -
TY - JOUR
T1 - Large Price Movements and Short-Lived Changes in Spreads, Volume, and Selling Pressure
JF - Quarterly Review of Economics and Finance
Y1 - 1999
A1 - Brooks,Raymond
A1 - Park ,Jinwoo
A1 - Su,Tie
KW - Finance
AB - In 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.
VL - 39
CP - 2
U2 - a
U4 - 644732928
ID - 644732928
ER -
TY - JOUR
T1 - Market Linkages Between the US and Japan: An Application to the Fisheries Industry
JF - Japan and the World Economy
Y1 - 1999
A1 - Elston,Julie
KW - Finance
KW - OSU-Cascades
AB - Recent 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.
VL - 11
CP - 4
U2 - a
U4 - 650117120
ID - 650117120
ER -
TY - HEAR
T1 - When-Issued Shares, Small Traders and the Variance of Returns around Stock Splits
Y1 - 1999
A1 - Brooks,Raymond
A1 - Angel,James J.
A1 - Mathew,Prem
KW - Finance
JA - Annual Meeting of American Finance Association
CY - New York, NY
U2 - c
U4 - 644741120
ID - 644741120
ER -
TY - JOUR
T1 - CEO Presentations to Financial Analysts: Much Ado About Nothing?
JF - Financial Practice and Education
Y1 - 1997
A1 - Brooks,Raymond
A1 - Johnson,Marilyn F
KW - Finance
VL - 7
CP - 2
U2 - a
U4 - 98051733504
ID - 98051733504
ER -
TY - JOUR
T1 - Financing the German Mittelstand
JF - Small Business Economics
Y1 - 1997
A1 - Audretsch,David
A1 - Elston,Julie
KW - Finance
KW - OSU-Cascades
AB - This 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.
VL - 9
CP - 2
U2 - a
U4 - 650119168
ID - 650119168
ER -
TY - JOUR
T1 - The Individual Investor and the Weekend Effect: A Reexamination with Intraday Data
JF - Quarterly Review of Economics and Finance
Y1 - 1997
A1 - Brooks,Raymond
A1 - Kim,Hongshik
KW - Finance
VL - 37
CP - 3
U2 - a
U4 - 98051678208
ID - 98051678208
ER -
TY - JOUR
T1 - A Simple Cost Reduction Strategy for Liquidity Traders: Trade at the Opening
JF - Journal of Financial and Quantitative Analysis
Y1 - 1997
A1 - Brooks,Raymond
A1 - Su,Tie
KW - Finance
VL - 32
CP - 4
U2 - a
U4 - 98051776512
ID - 98051776512
ER -
TY - JOUR
T1 - Changes in Asymmetric Information at Earnings and Dividend Announcements
JF - Journal of Business Finance and Accounting
Y1 - 1996
A1 - Brooks,Raymond
KW - Finance
VL - 23
CP - 3
U2 - a
U4 - 98051538944
ID - 98051538944
ER -
TY - JOUR
T1 - Dividend policy and investment: Theory and evidence from US panel data
JF - Managerial and Decision Economics
Y1 - 1996
A1 - Elston,Julie
KW - Finance
KW - OSU-Cascades
AB - This 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.
VL - 17
CP - 3
U2 - a
U4 - 650121216
ID - 650121216
ER -
TY - HEAR
T1 - Finance, Control and Profitability: An Evaluation of German Bank Influence
Y1 - 1996
A1 - Elston,Julie
KW - Finance
KW - OSU-Cascades
JA - Financial Institutions Workshop
CY - Pasadena CA
U2 - c
U4 - 650196992
ID - 650196992
ER -
TY - HEAR
T1 - Finance, Control and Profitability: An Evaluation of German Bank Influence
Y1 - 1996
A1 - Elston,Julie
KW - Finance
KW - OSU-Cascades
JA - American Economic Association Meetings
CY - San Francisco CA
U2 - c
U4 - 650199040
ID - 650199040
ER -
TY - JOUR
T1 - Le Financement de la Mittelstand Allemande
JF - Revue Internationale : Petite et Moyenne Enterprise (PME)
Y1 - 1996
A1 - Audretsch,David
A1 - Elston,Julie
KW - Finance
KW - OSU-Cascades
VL - 8
CP - 3-4
U2 - a
U4 - 650123264
ID - 650123264
ER -
TY - JOUR
T1 - Performance of Stoll's Spread Component Estimator: Evidence from Simultaions, Time-Series, and Cross-Sectional Data
JF - Journal of Financial Research
Y1 - 1996
A1 - Brooks,Raymond
A1 - Masson,Jean
KW - Finance
VL - 29
CP - 4
U2 - a
U4 - 98051616768
ID - 98051616768
ER -
TY - JOUR
T1 - Banks, Finance and Investment in German: A Review Article
JF - Small Business Economics
Y1 - 1995
A1 - Elston,Julie
KW - Finance
KW - OSU-Cascades
VL - 7
CP - 6
U2 - a
U4 - 650125312
ID - 650125312
ER -
TY - JOUR
T1 - A Bias in Closing Prices: The Case of the When Issued Anomaly
JF - Journal of Financial and Quantitative Analysis
Y1 - 1995
A1 - Brooks,Raymond
A1 - Chiou,Shur-Nuann
KW - Finance
VL - 30
CP - 3
U2 - a
U4 - 98051483648
ID - 98051483648
ER -
TY - JOUR
T1 - Bank Affiliations and Firm Capital Investment in Germany
JF - IFO Studien: Zeitschrift fur Empirische Wirtschaftsforschung
Y1 - 1994
A1 - Elston,Julie
A1 - Albach,Horst
KW - Finance
KW - OSU-Cascades
VL - 1
U2 - a
U4 - 650127360
ID - 650127360
ER -
TY - JOUR
T1 - Bid-Ask Spread Components Around Anticipated Announcements
JF - Journal of Financial Research
Y1 - 1994
A1 - Brooks,Raymond
KW - Finance
VL - 27
CP - 3
U2 - a
U4 - 98051393536
ID - 98051393536
ER -
TY - JOUR
T1 - Dividen Predicting Using Put-Call Parity
JF - International Review of Economics and Finance
Y1 - 1994
A1 - Brooks,Raymond
KW - Finance
VL - 3
CP - 4
U2 - a
U4 - 98051321856
ID - 98051321856
ER -
TY - HEAR
T1 - Does Firm Size Matter? Evidence on the Impacts of Liquidity Constraints on firm Investment Behavior in Germany
Y1 - 1994
A1 - Elston,Julie
KW - Finance
KW - OSU-Cascades
JA - European Association for Research in Industrial Economics Conference annual meetings
CY - Chania, Greece
U2 - c
U4 - 650201088
ID - 650201088
ER -