Purpose - The purpose of this paper is to analyze the impact of firm level corporate governance practices on the riskiness of a firm's stock returns. Design/methodology/approach - We construct an index of governance quality incorporating best practices stipulated by regulators. We employ...

Using a cross-country sample of mergers and acquisitions, we examine the role of cultural, institutional, geographic and managerial factors on post-merger default risk. Our results are consistent with the asymmetric hypothesis that managers take advantage of the overvaluation and volatility of...

We examine the issuance choice across rights issues of equity, unit offerings and standalone warrants and investigate the market reactions to these issue types. We find that agency costs, growth opportunities and current funding needs relative to assets in place are prime drivers of the type of...

Sound investment decisions require an in-depth knowledge of the financial markets and available financial instruments. This book provides students and professionals with an understanding of the role and activities of an equity security analyst within the investment process. Emphasis is on...