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Review of Financial Economics back issues
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Consistent pricing of warrants and traded options.(Statistical Data Included)
January 1, 2002... Abstract
Warrants issuance affects the stock price process of the issuing company. This change in the stock price process leads to subsequent changes in the prices of options written on the issuing company's stocks. In this paper, we investigate the effects of warrants issuance on the...
Consumption and asset prices an analysis across income groups.(Statistical Data Included)
January 1, 2002... Abstract
Employing aggregate consumption data to test the consumption-based capital asset pricing model (CCAPM) is likely to lead to a specification error since a significant portion of consumers live from paycheck-to-paycheck and, therefore, are constrained in their ability to...
Membership growth, multiple membership groups and agency control at credit unions.
January 1, 2002... Abstract
Starting in 1982, the federal credit union regulator allowed credit unions to add multiple membership groups. The policy was disallowed by the U.S. Supreme Court in 1998, but revalidated by the U.S. Congress later that year. Allowing credit unions to attach multiple membership...
A model of broker's trading, with applications to order flow internalization **.
January 1, 2002... Abstract
Although brokers' trading is endemic in securities markets, the form of this trading differs between markets. Whereas in some securities markets, brokers may trade with their customers in the same transaction (simultaneous dual trading or SDT), in other markets, brokers are...
An empirical analysis of the impact of stock index futures trading on securities dealers' inventory risk in the NASDAQ market.
January 1, 2002... Abstract
Stock index futures contracts (SIFCs) were developed in part to allow equity investors to conveniently hedge portfolio risks. Therefore, we may expect to observe smaller bid/ask spreads among NASDAQ equities following the introduction of trading in SIFCs. The potential...