Includes bibliographical references (p. 28-29).

Investment, dividend and external financing decisions are the major decisions of a firm. External financing includes the flotation of new common shares and/or new debt. Previous studies on the interrelationships among these three decisions precluded new equity financing in their models. Thus,...

This study investigates the pricing behaviors of default-free bond futures and American options on default-free bond futures based on the framework of Brennan and Schwartz (1979). In their model, the state space of interest-rate-dependent claims is spanned by the instantaneous spot interest rate...

The objective of this paper is to estimate the hedge ratios of foreign-listed single stock futures (SSFs) and to compare the performance of risk reduction of different methods. The OLS method and a bivariate GJR-GARCH model are employed to estimate constant optimal hedge ratios and the dynamic...