The General Capital Asset Pricing Model (GCAPM) incorporates certain market imperfections
(see Levy, 1978 and 1980). Levy concludes that in GCAPM equilibrium, all investors do …

The generally accepted argument is that captive insurance firms are synergistic because they
allow tax arbitrage and other cash flow increases which would positively impact the stocks …

Cost-volume-profit analysis has focused on the firm's short-run output decision assuming that
the manager maximizes the firm's objective function rather than his or her own. This study …

Purpose This paper aims to examine the merit of an indirect payment system for audit fees, a
system where an intermediary collects fees from the auditee and then pays this audit fee to …

The dynamic relationship among the US, Japan and UK daily stock market return volatility
and trading volume is examined using a multivariate generalized autoregressive conditional …

Using 45 Initial Public Offerings (IPOs) on the Shanghai Stock Exchange in 1993, we find
that the average initial period return is 594 percent or 2.44 percent per day between the offer …

The role of fiscal deficits in the inflationary environment that occurred in Korea during the
US military administration of 1945-48 resembles more commonly studied episodes of …

This paper investigates the dynamic process of Korean inflation under the US military
administration using a structural vector autoregression (SVAR) incorporating cointegration …

In Korea, there exists a unique form of housing rental called the “Chun-Sae” (CS). The
purpose of this paper is to provide a theoretical model for tax-based tenure choice between …

A captive finance company is a wholly-owned subsidiary to manage and finance firm's
accounts and note receivable. The corporate practice of forming a captive finance company has …