In a well developed financial market with liquid short term fixed income trading, the volatility of short term fixed income securities forms a continuous spectrum that converges to zero, the volatility of riskless asset. This means that the attainable combinations of risky assets contain the...

There has been constant debate about the predictability of the security markets. We examine the relationship between the prices of a stock and its convertible bond during the Hong Kong stock market bubble of 1997 and its subsequent crash. We find that the price behavior of the share and the...

This study investigates the relationship between capital structure and the private benefits of control of listed Chinese firms. A sample of firms listed on the Chinese stock markets is used to estimate the private benefits of control. The private benefits of control are approximately 18% (on...

This study investigates the relationship between capital structure and the private benefits of control of listed Chinese firms. A sample of firms listed on the Chinese stock markets is used to estimate the private benefits of control. The private benefits of control are approximately 18% (on...

Using first-principles calculation, we have studied the properties of a series of M<Subscript> x </Subscript>Co<Subscript>1−x </Subscript>/Co(0001) (M=Pd, Pt) bimetallic surface alloys with atom M ratios from 0.25 to 1.0, then the effect of alloyed M metal on the properties of S adsorbed on these surfaces are discussed. Our calculations...</subscript></subscript>

A series of ultrathin films of DyBa2Cu3O7−x, with properties spanning the zero-field superconductor-to-insulator transition, were prepared for the purpose of investigating the magnetic field driven superconductor-insulator transition. The resistance of these films was found to exhibit a peak...