Quarterly Review of Economics and Finance articles from March 1995

Quarterly Review of Economics and Finance archives from March 1995

Predictable components in exchange rates.
March 22, 1995... This study tests the validity of ling-run PPP by applying the cointegration methodology of Johansen and Juselius (1990) to monthly exchange rate and price data for eleven countries. The results reveal that in all cases the theoretical...

Vouchers in a community choice model with zoning. (includes appendix)
March 22, 1995... This paper investigates the impact of voucher plans for private schools on voter support for public schools when both school and community choice are allowed. Contrary to popular opinion, voucher plans can increase voter support for public...

Evidence on the relationship between uncertainty and irreversible investment.
March 22, 1995... Recent theoretical literature on irreversible investment has suggested that increased uncertainty about (i.e., volatility of) exogenous depresses investment. However, empirical confirmation of the theory has been minimal. This paper considers...

A cross-industry time-series analysis of quits. (includes appendix)
March 22, 1995... I. INTRODUCTION In the efficiency wage models of Salop (1979), Schlicht (1978), and Stiglitz (1974), firms pay wages above the market-clearing level to reduce workers' quits and to thus reduce the cost of hiring and training new...

Bridging the theory-practice gap in corporate finance: a survey of chief financial officers.
March 22, 1995... The primary objective of this article is to asses general research opinions, barriers to using sophisticated financial management decision-making techniques, and the understanding, utilization, and research preferences of practicing financial...

The pricing of risky corporate debt to be issued at par value. (includes appendix)
March 22, 1995... I. INTRODUCTION Building on the rational option pricing theories of Black and Scholes (1973) and Merton (1973) suggesting that the option pricing model can be used to price elements of corporate capital structure, Merton (1974)...

The volatility effect of option listing: some Canadian evidence.
March 22, 1995... This paper examines the effect of the Canadian option listings on the volatility of the underlying stocks. Towards this end, this paper adjusts for contemporaneous change in market volatility and regression tendency of beta, and employs...