Quarterly Journal of Business and Economics articles from June 2004

Quarterly Journal of Business and Economics archives from June 2004

Cost of capital with flotation costs.(trends of internal rate of return method)(trends of investment method )(residual income valuation)
June 22, 2004... Introduction An important role of corporations in the economy is finding and exploiting profitable long-term investment opportunities. Capital budgeting is the decision-making process that corporations use to evaluate potential investment...

MBO withdrawals and determinants of stockholders' wealth.(management buyouts)
June 22, 2004... Introduction A management buyout or a leverage buyout is a transaction in which incumbent managers, normally with the assistance of third-party private investors, use debt financing to purchase a corporation or a corporate division. This...

U.S. asset returns and fiscal policy: new empirical investigation.
June 22, 2004... Introduction The United States and other industrialized countries have been plagued by persistent, ballooning government budget deficit since the early 1970s. Although the United States briefly enjoyed a period of federal budget surplus...

The impact of weekly time period choice on volume and size cross-autocorrelations.
June 22, 2004... Introduction Several studies show that significant cross-autocorrelations exist in weekly security returns. Lo and MacKinlay (1990) find that significant size-based cross-autocorrelations exist in weekly returns, specifically showing that...

The measurement of post-acquisition performance using EVA.(economic value added)
June 22, 2004... Introduction Despite overwhelming evidence of share price gains to target shareholders, most acquiring firms fail to realize positive gains. A number of studies find that shareholders of acquiring firms earn, on average, zero abnormal...

Bid-ask spreads in U.S. equity markets.(study of elements of transactions costs )
June 22, 2004... Not only is the imperfections-in-the-capital-market a popular concept, but what is more important it is a terminal concept. Once this phrase has been written or spoken, the economist has finished with that strand of analysis... This...

Health and family labor force transitions.
June 22, 2004... Introduction Changes in the health of family members are likely to significantly affect labor market decisions made within families. As labor forces age, understanding the effects of these health changes on labor market decisions will...

An econometric investigation of the volatility and market efficiency of the U.S. Small Cap 600 stock index.
June 22, 2004... Introduction There are two constants in business-change and risk-that are manifest in financial asset volatility. Financial assets volatility is now predictable due to the groundbreaking work of Engle (1982) which gave birth to ARCH models...