Knowledge that Transforms

Jumpstart represents the most authoritative and well-reserached analysis of German unification to date. The authors present a lucid and cogent assessment of present

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Review of Quantitative Finance and Accounting deals with research involving the interaction of finance with accounting, economics and quantitative methods, focused on finance and accounting. The papers published present useful theoretical and methodological results with the support of interesting empirical applications. Purely theoretical and methodological research with the potential for important applications is also published. Besides the traditional high-quality, theoretical and empirical research in finance, the journal also publishes papers dealing with interdisciplinary topics including: financial accounting which uses financial and economic theory and/or methodology; managerial accounting and auditing which use financial and economic theory and/or methodology to deal with internal accounting data and decision making; macro-economics which uses finance theory and/or methodology to analyze fiscal and/or monetary policies; managerial economics which uses financial theory and/or methodology to analyze the decisions of a firm.

An abstract is not available for this content so a preview has been provided. As you have access to this content, a full PDF is available via the ‘Save PDF’ action button.

An abstract is not available for this content so a preview has been provided. As you have access to this content, a full PDF is available via the ‘Save PDF’ action button.

An abstract is not available for this content so a preview has been provided. As you have access to this content, a full PDF is available via the ‘Save PDF’ action button.

An abstract is not available for this content so a preview has been provided. As you have access to this content, a full PDF is available via the ‘Save PDF’ action button.

This paper studies the dynamic investment policies of firms under asymmetric information.Managers make decisions to maximize the wealth of existing shareholders. In equilibrium, the superior firms invest “myopically”, choosing intrinsically lower-valued projects that produce “early” cash flows. The inferior firms follow the socially preferred rule of investing in intrinsically higher-valued projects that produce “late” cash flows. In addition to explaining investment myopia, the model generates numerous predictions regarding announcement effects of equity issues and attempts by firms to stockpile cash, firms' preferences for limits on mandatory disclosure rules, and the effects of managerial entrenchment motives.

Bruce G. Resnick, Aamir M. Sheikh, Yo-Shin Song, Time Varying Volatilities and Calculation of the Weighted Implied Standard Deviation, The Journal of Financial and Quantitative Analysis, Vol. 28, No. 3 (Sep., 1993), pp. 417-430