The purpose of this study is to extend the research on mutual fund performance persistence to closed-end funds. Because closed-end funds trade at market prices different from net asset value (NAV) they are used to test both the performance persistence of their NAV and market price returns. While...

In this article, we assess the stock price performance of 184 firms emerging from Chapter 11 bankruptcy between 1980 and 2006. We find their mean post-bankruptcy performance to be similar to the performance of their size and-book-to-market control firms, as well as to the performance of their...

Purpose: The purpose of this paper is to examine the impact of the target and bidder reference points on the method of payment in mergers. When considering initial and final results for target and bidder, the target appears to have more negotiating power than the bidder in achieving the...

International lending has been slowed by the repeated loan reschedulings of less developed countries (LDCs) during the 1980s. However, commercial banks recognize that they must provide international loans in order to generate other business from foreign governments and multinational...

Purpose – To determine what characteristics distinguish firms that conduct international business within three years of going public and six years from founding, and how these firms perform. Design/methodology/approach – A logistic regression analysis is used to identify characteristics that...

Purpose – The purpose of this article is to assess the pricing of stocks that are traded on both a US stock exchange and a non‐US stock exchange to determine whether interaction exists between the two exchanges. Design/methodology/approach – This article identifies extreme price movements...

How investors can capitalise on a long‐term currency trend by leveraging their investment in a mutual fund is investigated. The sensitivity of mutual fund yields to exchange rate movements and the degree of leverage is tested for a strong dollar cycle (1981‐1984) as well as for a weak dollar...

The proliferation of mergers during the 70s and 80s has generated voluminous amounts of research with a primary focus on the impact to the shareholders from both the acquired and the acquiring firms. Relatively little research has been placed on the valuation process itself, especially within...