Quarterly Journal of Business and Economics articles from March 1997

Quarterly Journal of Business and Economics archives from March 1997

Motivation for voluntary corporate liquidations: distress, agency conflicts, and shareholder gain.
March 22, 1997... INTRODUCTION Voluntary corporate liquidations provide a unique opportunity for investigating a situation where management chooses to relinquish corporate control. Through liquidation all assets of the corporation are sold, and the company is...

An empirical examination of the interest rate swap market.
March 22, 1997... INTRODUCTION Academic research on interest rate swaps has concentrated on the growth of the swap market, the pricing of interest rate swaps, the default risk in interest rate swap contracts, and the regulation of the swap market. Few studies...

The nonpersistence of mutual fund performance.
March 22, 1997... INTRODUCTION Investors would love to know that choosing future winning mutual funds is as simple as choosing those that performed well in the past. Much effort has been expended recently to determine if such a rule exists. Hendricks, Patel,...

Stability of the arbitrage pricing theory model factors.
March 22, 1997... INTRODUCTION The arbitrage pricing theory (APT) model suggested by Ross (1976) and extended by Huberman (1983), Shanken (1982), Dybvig (1983), Grinblatt and Titman (1983), and Stambaugh (1983), among others, assumes that investors behave as if...