The purpose of this study is to investigate how Artificial Neural Network forecasts, specifically Adaptive Logic Network (ALN) forecasts, compare to those of linear regression (LR) and ARIMA models when analyzing international stock market movements during the crash of October 1987. The results...

Strategy is ultimately aimed at creating shareholder value. We examine the relationship among intrinsic (DCF) value, market value, and the value of growth options using a “perfect foresight” model. Our findings suggest that Kester's (1984) initial assessment of growth option values may not...

We examine the announcement period of stock returns for 179 over-the-counter (OTC) firms that issue common stock to reduce nonconvertible debt. We find that small OTC firms experience returns that are significantly more negative than large OTC firms. Regression tests reveal that firm size is a...