Purpose – The purpose of this paper is to examine differences in market performance of Swedish firms that initiate repurchase programs infrequently (1-2 programs), occasionally (3-4 programs) and frequently (5 or more programs) over the sample period and examine the relationship between...

Purpose – The purpose of this paper is to assess the effect of securitization on US bank lending and monetary policy transmission. Design/methodology/approach -The authors use a sample of 174 US commercial banks from 2001 to 2008 and regress the ratio of total loans per total assets on...

Purpose – The purpose of this paper is to determine whether corporate investment in real fixed assets in hot issue markets leads to higher income to shareholders than that in other equity market conditions. Design/methodology/approach -The authors address the research question in two steps:...

Purpose – This paper aims to examine the investment performance of pension funds in the UK using the three standard performance measurement models, the capital asset pricing model (CAPM), Fama-French model and the Carhart model. Design/methodology/approach -The authors use the CAPS-Mellon...

Purpose – Some labor supply curves exhibit inflection points at which they bend backward or fall forward; thus, some workers alternate between increasing and decreasing their labor hours as wages increase. No consensus has yet been reached on the underlying motive for such behavioral...

Purpose – The paper aims to empirically examine the forecasting ability of US-based world mutual funds during the 2001-2007 time period. Design/methodology/approach - World mutual funds are treated as portfolios composed of two sets of securities, i.e. domestic and foreign and two...

Purpose – This paper aims to investigate the effect of corporate social responsibility (CSR) ratings on the ex ante cost of capital of more than 2,300 listed US companies in a panel from 2003 to 2010. It examines whether financial markets value continuous investment in CSR activities through...

Purpose – The authors aim to investigate the cointegrating relationship of the government bond yields, driven by the common money factors in European Monetary Union (EMU). Design/methodology/approach -By adopting a dynamic ARDL transformation, the paper provides short-/long-term estimates of...

We examine the relationship between prices and interest rates for seven advanced economies in the period up to 1913, emphasizing the UK. There is a significant long-run positive relationship between prices and interest rates for the core commodity standard countries. Keynes (1930) labelled this...

Humans exhibit the remarkable ability to solve complex, multi-step problems despite their limited capacity for search. We review the standard theory of problem solving, which posits that heuristic guidance makes this possible, but we also note that most studies have emphasized the role of...