Quarterly Journal of Business and Economics articles from March 1994

Quarterly Journal of Business and Economics archives from March 1994

Economies of scale and scope in banking: evidence from a generalized translog cost function.
March 22, 1994... INTRODUCTION Most of the recent attempts at measuring scale and scope economies for financial institutions rely on parameter estimates obtained from a transcendental logarithmic statistical cost function (TCF).(1) The TCF generally is chosen...

Valuation effects of convertible security calls: an update.
March 22, 1994... INTRODUCTION Calls of in-the-money convertible securities represent a valuable laboratory for testing various theories of capital structure because they entail unambiguous and immediate reductions in financial leverage. Such calls are also...

Turnover: the implication of establishment size and unionization.
March 22, 1994... INTRODUCTION Empirical evidence suggests that the employee relation differs between large and small firms and between union and nonunion firms. Perhaps the best documented difference shows large firms and union firms paying higher wages than...

The postlisting returns anomaly revisited.
March 22, 1994... INTRODUCTION The market behavior around listing on a major stock exchange has been a topic of much interest in finance for more than 50 years. Studies show abnormally positive returns before listing, especially during the interval between...

Do institutions window dress? An empirical investigation.
March 22, 1994... INTRODUCTION As the academic dissection of the stock market continues, researchers increasingly investigate market participant behavior. One practice hypothesized to influence returns is window dressing by institutional investors. Bildersee...

International evidence on mean reversion in stock prices.
March 22, 1994... INTRODUCTION This paper examines whether international stock price indexes contain slowly mean-reverting components. This issue has generated substantial debate in recent years and has significant implications for stock market efficiency. The...