Purpose: Consistent with an “absolute bonding hypothesis,” the benefits of listing on US exchanges experienced by cross-listed firms are accompanied by an increased risk of experiencing a spillover effect due to negative news within their industry. The purpose of this study is to test this...

Purpose: The purpose of this study is to compare two theories that relate the proportion of diversified firms in the economy and the implied discount for diversified firms: the first is a real-options model predicting a positive relationship between the discount and management’s choice to...

Long-term interest rates are at their lowest levels in over a generation and are likely to edge up in the near future. Many analysts are also concerned about the potential impact of inflation on interest rates. In recent Congressional testimony, Federal Reserve Chairman Alan Greenspan stated...