This paper tests two theories of corporate investment myopia which predict a distortion in
investment policy with respect to the standard net present value rule. The theories are …

Dividend reductions have long been considered a “last resort” action for firm managers.
Managerial reluctance to reduce dividends emanates from the view that dividend drops signal …

The costly trade theory predicts that it is much more difficult to exploit long-term private
information than short-term. Thus, there is less long-term information impounded in prices. The …

The relationship between managerial share ownership and the firm’s change in leverage
around a security issuance is examined. We find that entrenched managers are not more likely …

We examine how information problems between the firm and the investor affect the value of
an internal capital market. While the extant literature finds that, on average, the diversified …

This article examines the so-called" sell in May" strategy that has been referred to in the
popular press for more than 40 years, and which Bouman and Jacobsen [2002] support with …

This article considers the potential statistical problems resulting from the use of averaged
rather than end‐of‐period data in financial research. Averaged data are widely employed …

We examine the change in the value of the underlying stock associated with long-term option
introduction. Analysis of the abnormal returns associated with LEAPS (Long-Term Equity …

How does one quantify the level of return that an investor can expect in the future? An
examination of the historical distribution of total returns reveals declines in dividend yields and …

Purpose The purpose of this paper is to set forth a less-costly, more flexible approach to
teaching the analysis of international business development opportunities. Design/methodology/…