Some warrants are issued with a scheduled increase in their exercise price. This increase, referred to as a 'step up' in exercise price, occurs after the warrant is issued but prior to its expiration. The price behaviour of warrants and common stock at the scheduled step up date is examined. The...

We provide evidence on the role of commodity futures in portfolios comprised of stocks, bonds, T‐bills, and real estate. Over the period investigated (1973–1997), Markowitz optimization over a range of risk levels gives substantial weight to commodity futures, thereby enhancing the...

In the summer of 1993, a faculty team from the College of Business at Northern Illinois University began working to develop a cross-functionally integrated undergraduate business principles core curriculum. This paper describes the integrated curriculum, which is comprised of a ninehour...

The claim that divided payments serve as signals to market participants is widely accepted. However, recent evidence has increased the uncertainty regarding the information conveyed when a firm drops its dividend. In particular, DeAngelo, DeAngelo, and Skinner (1992) and Healy and Palepu (1988)...

Ample evidence shows that size and book-to-market equity explain significant cross-sectional variation in stock returns, whereas beta explains little or none of the variation. Recent studies also demonstrate that proxies for monetary stringency increase the explained variation in stock returns....