This study examines implied volatility from options on crude oil futures surrounding OPEC meetings. Studies suggest that the implied volatility embedded in option prices should drift upward prior to scheduled information releases and drop afterward. As predicted, volatility drifts upward as the...

In the past decade, the effectiveness and efficiency foreign aid (Aid Industry) has generated considerable debate in both of the academic and popular press. Despite spending billions of dollars in foreign aid well over a billion people remain in extreme poverty. This paper did not intend to...

In a typical soft dollar arrangement, a security broker provides an institutional portfolio manager with credits to buy research from independent vendors in consideration for the manager's promise to send the broker premium commission business when trading his portfolio securities. Because...