Quarterly Journal of Business and Economics articles from September 1998

Quarterly Journal of Business and Economics archives from September 1998

The controversial contrarian profits: a study on differential returns across months.
September 22, 1998... Introduction The predictability of short-horizon stock returns long has been the focus of debate regarding the profitability of a contrarian portfolio strategy. Contrarian strategies are investment strategies of purchasing securities that...

Tax-induced segmentation in the tax exempt securities market.
September 22, 1998... Introduction One of the primary factors that influences the demand for tax-exempt (or municipal) securities is their tax-advantaged status. In equilibrium, the yield on tax-exempts will adjust so that for the marginal investor (1)...

Interstate bank mergers and their impact on shareholder returns: evidence from the 1990s.
September 22, 1998... Introduction Merger activity in the commercial banking industry has expanded at a rapid pace over the past several years, particularly in the area of interstate mergers. Among the factors that have contributed to this recent explosion of...

Hedging volatility shocks to the Canadian investment opportunity set.
September 22, 1998... Introduction Investors that are interested in protecting themselves from shocks to their investment opportunity set will be interested in an asset's ability to hedge against unexpected shocks to the mean of the market return and to the...