In 1996, the first exchange-traded funds (ETFs) designed to track a subset of the Morgan Stanley Capital International country indices were approved under the name World Equity Benchmarks (acronym "WEBS"(TM)). We examine the impact of early WEBS-trading on the liquidity of corresponding...

We develop a new methodology that controls for both the timing of annual earnings news (Asquith et al., 1989) and the performance prior to split announcements (Barber and Lyon, 1996) to evaluate the information content of stock splits. In contrast to existing evidence, we find that stock splits...

“Produce or Purchase—A Multiple Goal Linear Programming Model” -- “Random Sampling Approach to MCDM” -- “Explaining Utility Theory Paradoxes by Decision Regret” -- “Stability, Equality, Balance, and Multivariate Risk” -- “Efficient Solutions for Point-Objective Discrete...