The option features embedded in many bonds and fixed-income securities have made the binomial interest rate tree approach to bond valuation a valuable model for pricing debt securities. Fundamental to the application of the binomial model to bond valuation is the assumption about the underlying...

A recent study finds evidence of a new financial market anomaly linking daylight savings time changes with market returns - spring and fall daylight savings time weekends are typically followed by large negative returns - and that these returns are significantly lower than regular weekend...

This paper considers the game-related performance of the publicly traded teams in the English Premier League. It is found that the price behaviour of the publicly traded soccer team market to be very insensitive to game outcomes in terms of both returns and trading volume. It is believed that...

The movement between the opening and closing of betting lines on sports events has been shown to contain valuable information. The purpose of this study is to search for the source of this valuable information. Changes in college football betting lines are examined with respect to information...

This paper examines the impact of changes in the Department of Homeland Security's threat levels on asset prices in the airline and insurance industries. If changes in threat levels contain new information, they would be expected to influence asset prices in one or both industries. The paper...

It is generally accepted that a firm's dividend policy can provide information about its future financial performance. Most studies link dividend policy with firm valuation; however, other signals involving dividend policy are also observed. The focus of this article is not to continue the...