A Fast Literature Search Engine based on top-quality journals, by Dr. Mingze Gao.
- Topic classification is ongoing.
- Please kindly let me know [mingze.gao@mq.edu.au] in case of any errors.
Your search
Results 336 resources
-
This paper develops a computable general equilibrium model in which endogenous agency costs can potentially alter business-cycle dynamics. A principal conclusion is that the agency-cost model replicates the empirical fact that output growth displays positive autocorrelation at short horizons. This hump-shaped output behavior arises because households delay their investment decisions until agency costs are at their lowest–a point in time several periods after the initial shock. Copyright 1997 by American Economic Association.
-
This paper shows that, in several U.S. manufacturing industries, the seasonal variability of production and inventories varied with the state of the business cycle. The authors present a simple model which implies that, if firms reduce the seasonal variability of their production as the economy strengthens and they either hold constant or increase the stock of inventories they bring into the high-production seasons of the year, then they must be facing upward-sloping and convex marginal cost curves. The authors conclude that firms in a number of industries face upward-sloping and convex marginal-production-cost curves. Copyright 1997 by American Economic Association.
-
In U.S. elections, voters often vote for candidates from different parties for president and Congress. Voters also express dissatisfaction with the performance of Congress as a whole and satisfaction with their own representative. The authors develop a model of split-ticket voting in which government spending is financed by uniform taxes. The benefits from this spending are concentrated. While the model generates split-ticket voting, overall spending is too high only if the president's powers are limited. Overall spending is too high in a parliamentary system. The authors' model can be used as the basis of an argument for term limits. Copyright 1997 by American Economic Association.
-
The authors examine forty-seven stocks that voluntarily left the American Stock Exchange from 1992 through 1995 and listed on the NASDAQ . They find that both effective and quoted spreads increase by about 100 percent after listing on the NASDAQ. These spread changes are consistent across stocks. In contrast, excess returns are positive when firms announce a switch from the American Stock Exchange to the NASDAQ. The authors are unable to explain this apparent contradiction.
-
This article surveys the influence of research journals on finance doctoral education. Influence is measured by citations from syllabi of finance seminars. A sample of 101 distinct syllabi submitted by thirty-three finance doctoral programs yields a list of 1,031 articles cited by at least two schools. These 1,031 articles generate 3,273 citations referencing seventeen finance, economics, and accounting journals, where multiple citations from a single school are counted as a single citation. The most notable findings are the wide variety of seminar content across finance doctoral programs and the dominance of five finance journals in providing this diverse content.
-
The authors test the conditional capital asset pricing model (CAPM) for the world's eight largest equity markets using a parsimonious generalized autoregressive conditional heteroskedasticity (GARCH) parameterization. Their methodology can be applied simultaneously to many assets and, at the same time, accommodate general dynamics of the conditional moments. The evidence supports most of the pricing restrictions of the model, but some of the variation in risk-adjusted excess returns remains predictable during periods of high interest rates. The authors' estimates indicate that, although severe market declines are contagious, the expected gains from international diversification for a U.S. investor average 2.11 percent per year and have not significantly declined over the last two decades.
-
This article empirically examines the liquidity premium predicted by the Amihud and Mendelson (1986) model using NASDAQ data over the 1973-90 period. The results support the model and are much stronger than for the New York Stock Exchange (NYSE), as reported by Nai-Fu Chen and Raymond Kan (1989) and Venkat R. Eleswarapu and Marc R. Reinganum (1993). The author conjectures that the stronger evidence on the NASDAQ is due to the dealers' inside spreads on the NASDAQ being a better proxy for the actual cost of transacting than the quoted spreads on the NYSE, since the NASDAQ dealers do not face competition from limit orders or floor traders.
-
It is well documented that expected stock returns vary with the day of the week (the Monday or weekend effect). In this article, the authors show that the well-known Monday effect occurs primarily in the last two weeks (fourth and fifth weeks) of the month. In addition, the mean Monday return of the first three weeks of the month is not significantly different from zero. This result holds for most of the subperiods during the 1962-93 sampling period and for various stock return indexes. The monthly effect reported by Robert A. Ariel (1987) and Josef Lakonishok and Seymour Smidt (1988) cannot fully explain this phenomenon.
Explore
Journals
Topic
- Bond (8)
- Capital Structure (4)
- CEO (4)
- Director (2)
- Mergers and Acquisitions (1)
Resource type
- Journal Article (336)