Are similar types of goods imported to countries that have similar characteristics? It is possible that the total volume of trade is similar and yet the types of goods are different. This article investigates the trading pattern of countries with similar characteristics. More specifically, we...

Recent literature on the firm-level decision to export has focused on identifying factors that influence the export decision by firms regardless of the number of years they have been in operation. This article, alternatively, examines the factors that influence new firms to export within 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...

This paper examines the behavior of managerial investment, dividend, and capital structure decisions subsequent to the adoption of stock options as part of the compensation package. Previous studies have documented a positive stock market reaction to changes in incentive compensation plans. The...

Recent studies identify stock return patterns associated with changes in Federal Reserve monetary policy. We find that these return patterns prevail across sixteen industry stock indices. However, significant cross-industry variation exists as the apparel industry exhibits mean annual returns...