El objetivo del presente trabajo se centra en verificar el cumplimiento de la Ley de Precio Unico (LPU) en mercados separados espacialmente, utilizando el enfoque de cointegración. Se han considerado dos mercados: trigo y cebada, y cuatro zonas productoras-consumidoras de dichos cereales: Ebro,...

This paper examines volatility transfers between size-based stock indexes from the Tokyo Stock Exchange. We use a bivariate EGARCH model to test for volatility spillover effects between large- and small-cap stock indexes. We find an asymmetric volatility spillover from large-cap stock returns to...

Este trabajo es parte de un seminario realizado en el segundo semestre de 1972, sobre las experiencias de diversas empresas chilenas de participación, con el objetivo de confrontar con la realidad los estudios hechos en un curso anterior a nivel teórico sobre el sistema de autogestión. Como...

We examine several arguments—past performance, capital structure adjustment, and broadening the ownership base—involving why firms adopt and discontinue new-issue dividend reinvestment plans (DRPs). We test hypotheses for each argument by analyzing financial characteristics for firms...

We examine whether the agency cost arising from shareholder-bondholder conflict is an important determinant of the timing of dividend reduction decisions. Firms forced to reduce dividends owing to bond covenant violations experience lower earnings, more frequent losses, and greater earnings...

We report the results of a 2004 survey from managers of dividend-paying Norwegian firms listed on the Oslo Stock Exchange about their views on dividend policy. Specifically, we identify the most important factors in making dividend policy decisions and managers’ views about various...