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Two Essays on Momentum and Reversals in Stock Returns
Bhootra, Ajay - 2008
This dissertation consists of two essays. In the first essay, I examine the source of momentum in stock returns. The reversal of momentum returns has been interpreted as evidence that momentum results from delayed overreaction to information. I examine momentum and reversals conditional on...
Persistent link: https://www.econbiz.de/10009433865
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Two Essays on Asset Pricing
Hur, Jungshik - 2007
This dissertation consists of two chapters. The first chapter shows that the measurement errors in betas for stocks induce corresponding measurement errors in alphas and a spurious negative covariance between the estimated betas and alphas across stocks. This negative covariance between the...
Persistent link: https://www.econbiz.de/10009433962
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Two Essays on Shelf-registered Corporate Equity Offerings
Autore, Don M - 2006
This dissertation consists of two essays. The first provides evidence that the recent revival of shelf equity offers is related to changes in how firms use shelf registration. During 1990-2003 firms that make shelf filings have no immediate intent and low probability of issuance, lower...
Persistent link: https://www.econbiz.de/10009434002
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Two Essays on Ownership and Market Characteristics
Chen, Honghui - 1999
Theoretical models suggest that ownership structure may be an important determinant of securities' market characteristics. For example, the presence of informed traders leads to greater bid-ask spreads (Copeland and Galai (1983), and Glosten and Milgrom (1985)), and strategic trading of informed...
Persistent link: https://www.econbiz.de/10009434106
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OPTIMAL BOND REFUNDING: EVIDENCE FROM THE MUNICIPAL BOND MARKET
Priyadarshi, Samaresh - 1997
<HTML><HEAD><META HTTP-EQUIV="Content-Type" CONTENT="text/html; charset=windows-1252"></HEAD><BODY><FONT FACE="Book Antiqua"><P ALIGN="JUSTIFY">This dissertation empirically examines refunding decisions employed by issuers of tax-exempt bonds. Callable bonds contain embedded call options by virtue of provisions in bond indentures that permit the issuing firm to buy back the bond at a predetermined strike price. Such an embedded American...</p></font></body></head></html>
Persistent link: https://www.econbiz.de/10009434140
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Does CEO Duality Matter: An Integrative Approach
Kwok, Julia Shuk Ying II - 1998
Some firms allow their CEO to hold the position of Chair of the Board of Directors while other firms choose to split those two positions between two different individuals. This dissertation first examines whether agency control mechanisms, agency problems, and other firm characteristics are...
Persistent link: https://www.econbiz.de/10009433798
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Two Essays on Convertible Debt
Bremser, Albert W. - 1997
This dissertation examines two different topics relatedto the issuance of a convertible debt security. The firstessay addresses the question of how managers set theequity value in a convertible debt issue. A convertibledebt security has value derived from an equitycomponent and a debt component....
Persistent link: https://www.econbiz.de/10009433860
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Two Essays on Mutual Fund Herding
Sonaer, Gokhan - 2011
This dissertation consists of two chapters. First chapter examines whether herding by actively managed equity funds affects their performance. For this purpose, first the effect of herding on stock returns is reexamined and evidence is found that, during the herding quarter, stocks bought...
Persistent link: https://www.econbiz.de/10009433825
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The Impact of Earnings Quality on Investors' and Analysts' Reactions to Restatement Announcements
Romanus, Robin Nicole - 2007
Despite countless efforts to elucidate market participantsâ understanding of the implications of earnings quality, empirical accounting research has rendered two distinct perspectives. The first perspective considers market participants naïve users of accounting information who fail to grasp...
Persistent link: https://www.econbiz.de/10009434132
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An Examination of Seasoned Equity Offer Placement Effort
ALTINKILIC, Oya - 2001
Altinkiliç and Hansen (2000) show that underwriter spreads in seasoned equity offerings (SEOs) overwhelmingly reflect variable costs. This research attempts to begin filling the gap created by this result, as to what are the important constituents of the variable costs. In particular, I...
Persistent link: https://www.econbiz.de/10009433796