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Financial Management articles from December 2006
Publication covering account management.
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Financial Management archives from December 2006
Value of conglomerates and capital market conditions.
December 22, 2006... This article studies variations in the value of diversification across time under various capital market conditions. I find that when external capital is more costly at the aggregate level the value of conglomerates increases relative to...
What drives the S&P 500 inclusion effect? An analytical survey.
December 22, 2006... We present an analytical survey of the explanations--price pressure, downward-sloping demand curves, improved liquidity, improved operating performance, and increased investor awareness--for the increase in stock value associated with inclusion...
A comparison of syndicated loan pricing at investment and commercial banks.
December 22, 2006... We reject the hypothesis that investment and commercial banks have identical loan-pricing policies. We find that compared to commercial banks, investment banks lend to less profitable, more leveraged firms, price riskier classes of term loans...
Does dividend policy relate to cross-sectional variation in information asymmetry? Evidence from returns to insider trades.
December 22, 2006... We examine the relation between dividends and information asymmetry by using insider returns as a proxy for information asymmetry. We find that dividends are negatively related to returns to insider trades across firms. Firms that pay...