Quarterly Journal of Business and Economics articles from December 2002

Quarterly Journal of Business and Economics archives from December 2002

Bank dividend policy: explanatory factors.
December 22, 2002... Introduction The factors explaining dividends should be important because the intrinsic model holds that a stock's price is the present value of its future dividends. Fama and French (1998) find empirical support for such a relationship....

Operational actions and reliability of the signaling theory of dividends: an investigation of earnings anomaly following dividend cuts and omissions.
December 22, 2002... Introduction The signaling theory of dividends states that managers use dividend policy to send signals about the firm's future earnings (Bhattacharya, 1979; Miller and Rock, 1985; and John and Williams, 1985). Although evidence of stock...

Executive compensation and corporate production efficiency: a stochastic frontier approach.
December 22, 2002... Introduction Over the last decade, substantial increases in top executive compensation in medium and large firms have generated concern--is high executive pay connected to firm performance? Over the 1990-1996 period the average...

Managerial incentives and strategic investor behavior.
December 22, 2002... Introduction The managerial incentives present in firms owned by outside investors recently have been discussed, particularly in terms of the goals given to managers. The conventional wisdom is that if investors or firm owners are risk...

The weather and stock returns in New Zealand.
December 22, 2002... Introduction New Zealand, like many other countries, is famous on any number of accounts. Its exports of dairy products, lamb, wool, and kiwi fruit are marketed throughout the world. The New Zealand Stock Exchange is located in Wellington,...

An examination of the random walk model and technical trading rules in the Malaysian stock market.
December 22, 2002... Introduction The possibilities of market inefficiencies and subsequent profit opportunities that arise after controlling for risk in international and local stock markets are appealing to portfolio managers and investors. If the market is...

Municipal economic growth, 1960-1990.
December 22, 2002... Over the last two decades, the amount of theoretical and empirical work devoted to understanding the causes of economic growth has increased rapidly. Most of the empirical analyses have focused on explaining differences in cross-national growth...