This paper studies the association between the market's expectations of Saddam Hussein's fall from power, as reflected in quot;Saddam contractquot; prices, and stock prices, oil prices and exchange rates. During the war, a rise in the probability of Saddam's fall, which also indicated a speedy...

This paper studies the association between the market s expectations of Saddam Hussein s fall from power, reflected in quot;Saddam contractquot; prices, and stock prices, oil prices and exchange rates. During the war, a rise in the probability of Saddam s fall, which also indicated a speedy end...

This paper studies the association between the market s expectations of Saddam Hussein's fall from power, reflected in Saddam contract prices, and stock prices, oil prices and exchange rates. During the war, a rise in the probability of Saddam's fall, which also indicated a speedy end to the...

This paper studies the association between the market s expectations of Saddam Hussein s fall from power, reflected in quot;Saddam conactquot; prices, and stock prices, oil prices and exchange rates. During the war, a rise in the probability of Saddam s fall, which also indicated a speedy end to...

We analyze the link between creditor rights and firms' investment policies, proposing that stronger creditor rights in bankruptcy reduce corporate risk-taking. In cross-country analysis, we find that stronger creditor rights induce greater propensity of firms to engage in diversifying...

This paper examines the effects of cross-border bank mergers on the risk and (abnormal) returns of acquiring banks. We find that overall, the acquirers risk neither increases nor decreases. In particular, on average neither their total risk nor their systematic risk falls relative to banks in...

This paper examines the effects of cross border bank mergers on the risk and (abnormal)returns of acquiring banks. We find that overall, the acquirers risk neither increases nor decreases. In particular, on average neither their total risk nor their systematic risk fallsrelative to banks in...

We propose a direct and convenient reduced-bias estimator of predictive regression coefficients, assuming that the regressors are Gaussian first-order autoregressive with errors that are correlated with the error series of the dependent variable. For the single regressorsmodel, Stambaugh (1999)...

This paper examines the effects of cross-border bank mergers on the risk and (abnormal) returns of acquiring banks. We find that overall, the acquirers risk neither increases nor decreases. In particular, on average neither their total risk nor their systematic risk fallsrelative to banks in...

We propose that stronger creditor rights in bankruptcy affect corporate investment choice by reducing corporate risk-taking. In cross-country analysis, we find that stronger creditor rights induce greater propensity of firms to engage in diversifying acquisitions that are value-reducing, to...