Outlines the development of risk management products, reviews relevant research and identifies reasons for their rapid growth. Reports a study of US public issues of securities from 1962 to 1998 which examines the introduction and longevity of various types; and analyses the issuers and leading...

Purpose – The purpose of this paper is to provide a unique approach to examining issues related to initial public offerings (IPOs). Design/methodology/approach – The price behavior of IPOs in new industries is analyzed relative to IPOs in established industries. Findings – The results show...

Purpose – The purpose of this paper is to utilize the initial public offerings (IPO) market to research the effect the stock market crash of 1987 had on the market psyche. Design/methodology/approach – The paper compares the number of IPOs, as well as accounting data during the years...

Using data for six Asian miracle economies over the period from 1953 to 2006, this paper examines the extent to which growth has been driven by R&D and tests which second-generation endogenous growth model is most consistent with the data. The results give strong support to Schumpeterian growth...

This research examines whether technology transfer, research intensity, educational attainment and the ability to absorb foreign technology help explain cross-country differences in productivity growth. Our data comprise a panel of 55 countries including 23 OECD and 32 developing economies over...

We provide empirical evidence on the conjecture that in economic crises, firms could be forced to sell at deep discounts, or fire sale prices. Using the conventional stock price near the announcement date, we find instead distressed firms in crisis periods receive a 30% higher offer premium than...