Review of Financial Economics articles from September 1992

Review of Financial Economics archives from September 1992

The inflationary impact of oil price shocks: a vector autoregressive study.
September 22, 1992... I. Introduction During the last twenty years there have been several major periods of increasing world oil prices. For instance, from 1973 to 1974 the average world price of crude petroleum rose by 261 percent, from $3.10 per barrel to...

Wealth effects from acquiring failed thrifts since FIRREA. (Financial Institutions Reform, Recovery, and Enforcement Act of 1989)
September 22, 1992... During the 1980s, the thrift industry was confronted with volatile interest rates, increased competition, and a changing regulatory environment. These factors contributed to an unprecedented number of failures. Between January 1980 and December...

The holiday effect in stock returns: evidence from the OTC market. (over-the-counter)
September 22, 1992... I. Introduction Recent studies provide evidence of a pre-holiday effect in the patterns of daily stock returns on the organized exchanges. Using the daily value-weighted and equally weighted indices of stocks listed on the New York Stock...

Merger activity and managerial compensation.
September 22, 1992... I. Literature Review This paper introduces a game theoretical foundation for examining the relationship between merger activity and the compensation packages awarded to top management. Many of the topics to be addressed in this paper have...

Is the Tokyo spot foreign exchange market consistent with the efficient market hypothesis?
September 22, 1992... I. Introduction In this study, we test the Tokyo spot foreign exchange market for the weak form of the Efficient Market Hypothesis (EMH).(1) Our objective is to determine if there are long-run equilibrium relationships among four major...

The impact of sale-leasebacks transactions on bondholder and shareholder wealth.
September 22, 1992... This paper empirically investigates the valuation effects of the sale-leaseback transaction (SLBT) on the firm's bondholders and stockholders. The primary focus is the empirical examination of the effect of sale-leaseback transactions on the...

Forward risk premia and the maturity of contracts: a note.
September 22, 1992... The growing importance of the forward exchange markets, following the establishment of the flexible exchange rate system in 1973, triggered interest in the study of the relationship between the spot and forward rates of exchange. The earlier...