While an extensive body of literature has examined merger, acquisition, and consolidation activity in commercial banks and other financial services firms, little attention has been paid to examining how these institutions use the cooperative activities of joint ventures and strategic alliances...

The prospectus of every initial public offering (IPO) provides a lengthy list of factors that exposes investors to risk when investing in an IPO. However, this list is not useful for distinguishing among IPOs for investors who plan to hold IPO shares in the aftermarket. We attempt to identify...

Drawing on the theoretical and empirical evidence that private information risk is priced in the expected returns of equities, we hypothesize that information risk premium is an important component of the risk premium that leads to the violation of uncovered interest rate parity (UIRP). Using an...

This study provides evidence that low frequency data masks certain returns phenomena in the foreign exchange (forex) market. It is shown that the compass rose pattern is entirely absent in daily returns in the spot and futures forex markets. In contrast, the intraday returns, especially those...

Studies have found that bond ratings can affect the stock prices of individual companies. These studies suggest that investors rely on third parties when valuing companies. Our goal is to determine whether ratings have a similar influence on a country's valuation. We assess the country ratings...

Using a hand-collected dataset, we examine the acquisitions of 307 family owned targets for the period 1984–2000 to study the conflicting roles of entrenchment and alignment of interests in these firms. We find that bidders experience the strongest announcement market reaction at the medium...