Quarterly Journal of Business and Economics articles from March 1996

Quarterly Journal of Business and Economics archives from March 1996

On replications in business and economics research: the QJBE case. (Quarterly Journal of Business and Economics)
March 22, 1996... "It is important that econometric replications be taken as seriously as replications in the experimental sciences." R.A. Mittelstaedt and T.S. Zorn (1984, p. 14). INTRODUCTION AND REVIEW In business and economics research, support often is...

The influence of tax-loss selling by individual investors in explaining the January effect.
March 22, 1996... INTRODUCTION Large abnormal returns for stocks in the month of January have been documented and examined by numerous researchers. These returns generally are shown to occur primarily for small firms and accrue mostly during the first five days...

Disappearing evidence of chaos in security returns: a simulation.
March 22, 1996... INTRODUCTION Recent empirical evidence of nonlinear dependencies in financial time series suggests security prices may be more predictable than formerly thought (Hinich and Patterson, 1985; Scheinkman and LeBaron, 1989; Peters, 1991a, 1991b;...

Nuisance OLS correlations in market model parameter shift studies. (ordinary least squares)
March 22, 1996... INTRODUCTION There now exists a large body of literature addressing the hypothesis that, at any point in time, securities prices fully reflect all available relevant information. An important tool in this research is the single index market...

The certification role of large block shareholders in initial public offerings: the case of venture capitalists.
March 22, 1996... INTRODUCTION There is considerable theory and evidence that initial public offerings (IPOs), on average, experience positive initial returns and that the market reacts negatively to seasoned equity offerings. This kind of market reaction is a...

Share repurchase motives and stock market reaction.
March 22, 1996... INTRODUCTION Share repurchases have become a commonplace event in the financial markets. A Wall Street Journal article (July 2, 1993, p. C1) reports an average buyback of $9.53 billion per quarter since spring 1992 and an average of $5.36...

Implied penalties for financial leverage: theory versus empirical evidence.
March 22, 1996... INTRODUCTION This study takes a new look at an old issue - the relationship between financial leverage and beta and, hence, between financial leverage and required return. Our motivation for returning to this question is based on three...