This study values takeover targets in the gaming industry and finds that privately held takeover targets command lower valuations than publicly traded firms. On average valuation multiples are 46% lower for private targets relative to public firms. This finding has significant implications for...

Implied volatility is widely believed to be informationally superior to historical volatility, because it is the "markets" forecast of future volatility. But for S&P 100 index options, the most actively traded contract in the United States, we find implied volatility. In aggregate and across...

This chapter examines the pricing, demand (occupancy), and revenue per available room (RevPAR) dynamics of European hotels for the period 2006–2007. The importance of understanding the pricing behavior of direct competitors is critical to effective strategy formulation and meaningful industry...