We analyze the underinvestment problem as a determinant of corporate hedging policy. We
find evidence of a positive relation between a firm's derivatives use and its growth …

This research analyzes the investment behavior of institutional portfolio managers within the
context of their fiduciary responsibility arising from handling client capital. The perspective is …

We provide a rationale for window dressing wherein investors respond to conflicting signals
of managerial ability inferred from a fund's performance and disclosed portfolio holdings. We …

We investigate the relationship between derivatives use and the extent of asymmetric information
faced by the firm. Using alternative analyst forecast proxies for asymmetric information, …

We investigate the relation between derivatives use and corporations’ cost of equity capital.
Using a large sample of non-financial firms, we compute and analyze (i) the relative cost of …

… Gerald D. Gay is an Associate Professor of Finance at Georgia State University. … EO Hl
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Persistent underpricing in the Korean stock index futures market is documented and alternative
explanations are examined. No‐arbitrage pricing bands are computed using alternative …

We investigate analyst forecasts in a unique setting, the natural gas storage market, and study
the contribution of analysts in facilitating price discovery in futures markets. Using a high‐…

… Gay is an Associate Professor of Finance at Georgia State University; and Tae-Hyuk Kim is an
Assistant Professor of Finance at the University of Bridgeport, … where bo is Monday's average …

… In addition to assumptions (a) and (b) reported in the text, assumptions (c) and (d) given …
Under assumptions (c) and (d), the primary asset is not changing. However, whether the …