Financial Management articles from December 2000

Financial Management archives from December 2000

Risk Measurement and Hedging: With and Without Derivatives.
December 22, 2000... S. Ramu Thiagarajan [*] This paper examines a setting in which the derivatives strategies of two firms are known, but completely different. One firm aggressively hedges its risk using derivatives. The other firm uses a combination of...

Privatization and the Rise of Global Capital Markets.
December 22, 2000... William L. Megginson [*] We examine the growth in global capital market valuation, trading volume and security issuance over the past two decades. After estimating the impact of share issue privatizations on the growth of stock markets, we...

Equity Valuation in the Czech Voucher Privatization Auctions.(Statistical Data Included)
December 22, 2000... Joel T. Harper [*] This is a study of the determinants of share pricing and demand in the path-breaking Czech voucher-based multiple-round mass privatization auction. The results presented here document that share valuation and demand in...

The Source of Gains to Targets and Their Industry Rivals: Evidence Based on Terminated Merger Proposals.(Brief Article)(Statistical Data Included)
December 22, 2000... Ann Marie Whyte [*] We examine merger gains to targets and their industry rivals and find evidence consistent with the signaling hypothesis. We find that targets and rivals benefit from the merger announcement, but termination results in...

Merton Miller and Modern Finance.
December 22, 2000... Rene M. Stulz [*] In this keynote address to the 2000 Financial Management Association International Annual Meeting, I consider Merton Miller's contributions to the field of finance. I argue that his most important contribution is to have...