Quarterly Journal of Business and Economics articles from January 1993

Quarterly Journal of Business and Economics archives from January 1993

Examination of Tobin's q for takeover firms.
January 1, 1993... HQ Targets 0.805 (23.21)** -0.506 (-1.02) Acquirers 0.768 (8.65)** -1.423 (-1.82) Target Controls 0.792 (22.08)** -0.460 (-0.61) Acquirer Controls 0.832 (24.43)** -1.423...

Capital market tests of risk exposure of loan sales activities of large U.S. commercial banks.
January 1, 1993... Introduction This paper deals with the risk exposure of loan sales (LNPART) by large commercial banks in the United States. Commercial loan sales involve the sale of loans originated by banks. Loan sales are structured so that the selling bank...

Macroeconometrics of stock price fluctuations.
January 1, 1993... Introduction The objective of this paper is to apply Sims' innovation accounting and Granger causality tests to explain monthly stock price fluctuations within a vector autoregressive (VAR) model following Sims (1980b). Specific issues to be...

The dividend-clientele controversy and the Tax Reform Act of 1986.
January 1, 1993... Introduction The Tax Reform Act of 1986 (P.L. 99-514) is categorized as the most extensive overhaul of the United States tax code in 30 years as well as the most fundamental reform of the federal tax structure in history (Joint Committee on...

Ben Graham's net current asset value rule revisited: the size-adjusted returns.
January 1, 1993... Introduction Ben Graham has received much attention in recent academic research. Arbel, Carvell, and Postnieks (1988) show how Graham's fundamental valuation model could predict the October 1987 drop in stock prices accurately. Vu (1988)...

Early Japanese development and the role of trade: a correction. (Quarterly Journal of Business and Economics, vol 27, no. 1, p. 1885, Winter 1988)
January 1, 1993... A 1988 paper on the relationship between trade and growth in early Japan (Grabowski, 1988) presented results of a simultaneous equation model and a simulation analysis (Tables 4 and 5). Errors in the program used to estimate the simultaneous...