Quarterly Journal of Business and Economics articles from September 1997

Quarterly Journal of Business and Economics archives from September 1997

Journal prestige and the publication frequency of replication research in the finance literature.
September 22, 1997... INTRODUCTION Concerned that the paucity of such work might have deleterious consequences for the development of a cumulative knowledge base, members of the editorial board of the Quarterly Journal of Business and Economics (QJBE) instituted a...

Option listing effects and the role of confounding events.
September 22, 1997... INTRODUCTION Numerous studies investigate the characteristics that enable options to contribute uniquely to the investment opportunity set. Theoretical work by Ross (1976), Arditti and John (1980), Green and Jarrow (1987), and Nachman (1988)...

The role of performance-based compensation in reducing the underinvestment problem.
September 22, 1997... INTRODUCTION Firms' growth opportunities and cash flow environments affect their investment decisions. Jensen (1986) provides the well-known free cash flow problem as a classic example: managers of low growth, high cash flow firms prefer to...

A reexamination of price behavior surrounding option introduction.
September 22, 1997... INTRODUCTION This study reexamines the return behavior around option introduction using a different set of option listing data and provides new evidence on the price effect associated with option introduction. Prior studies concerning the...

The effect of Canadian stock splits, stock dividends, and reverse splits on the value of the firm.
September 22, 1997... INTRODUCTION Over the past several years an important body of literature on the impact of stock splits on stock prices has evolved. A widely held view is that when a company splits its stock, management is giving a positive information signal...