Financial Management articles from December 2002

Financial Management archives from December 2002

The impact of Rule 144A debt offerings upon bond yields and underwriter fees.
December 22, 2002... Securities issued under Rule 144A do not have to file a public registration statement with the Securities and Exchange Commission, but can be sold only to qualified financial institutions. This paper examines industrial and utility bonds issued...

The impact of the institutional and regulatory environment on shareholder voting.
December 22, 2002... We document that certain features of the institutional and regulatory environment governing shareholder voting can affect the co-location of shares' voting and cash-flow rights. We show that "routine" management proposals, for which brokers can...

Do we need CAPM for capital budgeting?
December 22, 2002... A key input to the capital budgeting process is the cost of capital. Financial managers most often use the CAPM to estimate the cost of capital for which they need to know the market risk premium. Textbooks advocate using the historical value...

Malaysia privatization: a comprehensive study.
December 22, 2002... As the first comprehensive study on privatization in Malaysia, this paper compares financial and operating performance of a sample of 24 firms before and after privatization. The 24 firms were privatized via public listing on the Malaysian...

Asset liquidity and the determinants of asset sales by poorly performing firms.
December 22, 2002... This study analyzes factors that potentially are associated with higher incidences of asset sales by poorly performing firms. Consistent with Shleifer and Vishny's (1992) asset liquidity model, I find that firms are more likely to sell assets...

Production in the finance literature, institutional reputation, and labor mobility in academia: a global perspective.
December 22, 2002... Academic institutions are ranked on a global scale in terms of finance literature productivity. US institutions are dominant in academic publishing although European and Asian institutions have improved sign significantly in recent years....