… Readers will note an obvious key change to the twelfth edition, which is the addition of
Professor Randy Billingsley as an author. Randy is a finance professor at Virginia Tech. His …

This study examines the cross-sectional impact of the 2008 short sale ban on the returns of
US financial stocks. Motivated by the large cross-sectional variation in the extent to which …

This paper explores the relationship between information uncertainty and auditor reputation
revealed by the failure of Arthur Andersen (AA). AA’s reputation deteriorated considerably …

This paper updates several widely cited studies on the motivation for convertible debt issuance.
Our recent survey finds that firms use convertibles primarily as an alternative to straight …

Randall S. Billingsley and Don M. Chance he benefits of diversification have been well-established
since the early work of Markowitz| 1952] and the formal proofs of Samuelson| 1967]. …

This paper examines the relationship between split ratings and bond reoffering yields.
Using a sample of industrial bonds, we find that primary issue bonds that receive different (split) …

The effectiveness of the put-call ratio (PCR), the ratio of the volume of puts traded to the
volume of calls traded, has never been scientifically tested. One drawback to an analysis of …

While units of debt with warrants are not structured as perfect substitutes for convertible bonds,
there is reason to believe that firms view the two securities as viable alternative methods …

The hybrid nature of convertible bonds continues to interest corporate financial managers,
investors, and economists. While much theoretical and empirical research examines an …

The Pricing and Performance of Page 1 The Pricing and Performance of Stock Index Futures
Spreads Randall S. Billingsley Don M. Chance his paper examines the extent to which …