JFQA volume 43 issue 3 Front matter
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.
Knowledge that Transforms
To make high-quality research more accessible and easier to explore.
Fields:
45 results
✕ Clear filters
JFQ volume 43 issue 2 Cover and Front matter
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.
JFQ volume 43 issue 4 Front matter
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.
JFQ volume 43 issue 3 Back matter
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.
JFQ volume 43 issue 1 Back matter
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.
JFQ volume 43 issue 2 Cover and Back matter
The CQF is an intensive mathematical finance program consisting of formal lectures and workshops delivering the necessary knowledge base and skills needed to succeed in the fast-paced environment of the financial markets. Delegates can access the course from anywhere in the world. The CQF Alumni Network represents an exclusive global community of quantitative practitioners. studying in their own time and repeating the classes as often as they wish -all modules are fully supported by programming workshops. The fastest-growing Quantitative Finance Program in the world. Delivered by leading practitioners and led by Dr Paul Wilmott.
JFQ volume 43 issue 4 Back matter
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.
JFQ volume 43 issue 1 Front matter
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.
Blockholder Scarcity, Takeovers, and Ownership Structures
Agency problems in firms are prevalent because of a scarcity of wealthy principals with corporate governance ability, whom we call “restructuring specialists.” We investigate how this scarce resource, “agency cost-free capital,” is allocated. We show that the restructuring specialists may acquire blocks only in those states of the worls in which they can increase firm value the most, which corresponds to a takeover. Firms with dispersed ownership and firms with a financial intermediary as a blockholder can coexist, although they are otherwise identical. The moderl can explain differences in corporate ownership structures and restructuring mechanisms across economies.
International Diversification with Large- and Small-Cap Stocks
To the extent that investors diversify internationally, large-cap stocks receive the dominant share of fund allocation. Increasingly, however, returns to large-cap stocks or stock market indices tend to comove, mitigating the benefits from international diversification. In contrast, stocks of locally oriented, small companies do not exhibit the same tendency. In this paper, we assess the potential of small-cap stocks as a vehicle for international portfolio diversification during the period 1980–1999. We show that the extra gains from the augmented diversification with small-cap funds are statistically significant for both in-sample and out-of-sample periods and remain robust to the consideration of market frictions.