Quarterly Journal of Business and Economics articles from June 1994

Quarterly Journal of Business and Economics archives from June 1994

Market response to earnings announcements: the effects of firm characteristics.
June 22, 1994... INTRODUCTION Studies of the information content of earnings announcements have a long history. Early studies determined that the sign and magnitude of stock price responses are correlated positively with the sign and magnitude of unexpected...

Effects of monopolization in an increasing cost industry.
June 22, 1994... INTRODUCTION In discussions of market structure, economists frequently make comparisons between monopoly and competition. Such analyses traditionally implicitly or explicitly assume that a perfectly competitive industry becomes a monopoly,...

The impact of financial deregulation on the relationship between stock prices and monetary policy.
June 22, 1994... INTRODUCTION Since 1978 the U.S. economy has witnessed the gradual elimination of regulations on the deposit yields offered by financial institutions. During the late 1970s when the interest rates were escalating to high levels, Regulation Q...

Estimation of food demand elasticities using Hicksian composite commodity assumptions.
June 22, 1994... INTRODUCTION Cross-section surveys of household food expenditure often have been used for the estimation of income elasticities of demand for food items; recently the potential for using them for the estimation of price elasticities has...

Agency conflicts, issue costs, and debt maturity.
June 22, 1994... INTRODUCTION A growing body of literature examines the design of debt contracts as a means of reducing the costs of stockholder-bondholder conflicts.(1) Barnea, Haugen, and Senbet (1980), Myers (1977), and Bodie and Taggart (1978) show that...

Variation in return signs: announcements and the weekday anomaly.
June 22, 1994... INTRODUCTION A substantial body of literature documents significant variation in equity returns across weekdays attributable primarily to negative average Monday returns.(1) A continuing debate exists regarding the cause of this variation....