Encyclopedia of Finance Part 21 pot

... fields of accounting, finance, and law. The Board of Directors had several com- mittees to review various aspects of the company’s policies and operations. There was separation of the offices of ... of an aggressive managerial style for the sake of profit maximization? The lesson from Enron is very clear that it does not pay to sacrifice the defensive role when risk 646 ENCYC...

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... (1989). ‘‘The impact of data errors on meas- urement of the foreign exchange risk premium.’’ Jour- nal of International Money and Finance, 8: 147–157. 356 ENCYCLOPEDIA OF FINANCE asset on each ... swap CREDIT DERIVATIVES 341 Counterparty A 100 Counterparty B Counterparty A Counterparty B Reference asset worth P Dirty C LIBOR + S C Counterparty A Counterparty B 100 100 Maturity Pa...

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... the Arbitrage Pricing Theory.’’ Journal of Finance, 43(3): 721 733. 372 ENCYCLOPEDIA OF FINANCE Chapter 7 TREASURY INFLATION-INDEXED SECURITIES QUENTIN C. CHU, The University of Memphis, USA DEBORAH N. PITTMAN, ... Cri- tique.’’ Journal of Financial Economics, 18: 91–110. Sharpe, W. F. (1964). ‘‘Capital asset prices: a theory of market equilibrium under conditions of risk.’’...

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... elimination of cumu- lative voting in the election of directors. The proposed changes do not result from any present knowledge on the part of the Board of Directors of any proposed tender offer or ... invention. Millions of individ- uals voluntarily entrust billions of dollars, francs, pesos, etc., of personal wealth to the care of managers on the basis of a complex set...

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... debts by partial sale of assets. A growing literature on method of takeover payment shows the existence of a relationship be- tween methods of takeover payment and of finan- cing for takeover. Most of ... sell-off induced abnormal returns.’’ Journal of Finance, 42(4): 933–942. Travlos, N.G. (1987). ‘‘Corpo rate takeover bids, methods of payment, and bidding firms’ stock re- t...

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... the size of serial correlation in returns offers no precise implications on the extent of speculative profits available in the market. They propose that examining the profitability of various trading ... reality, not only 592 ENCYCLOPEDIA OF FINANCE Chapter 29 MARKET EFFICIENCY HYPOTHESIS MELODY LO, University of Southern Mississippi, USA Abstract Market efficiency is one of t...

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... problem of handling big block orders. A lot of interaction with the market is needed to trade large orders. That is where some see the advantage of continuous trading. It offers a special kind of ... clear- 624 ENCYCLOPEDIA OF FINANCE of 49 there are only two sell orders. For this rea- son, the clearing price in a call auction is typically identified as the value that maximize...

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... together in call auction 640 ENCYCLOPEDIA OF FINANCE Chapter 38 STRUCTURE OF SECURITIES MARKETS 1 ROBERT A. SCHWARTZ, City University of New York, USA LIN PENG, City University of New York, USA Abstract The ... (1996).‘‘Limit order trading.’’ Journal of Finance, 51: 1835–1861. Ho, T. and Stoll, H. (1983). ‘‘The dynamics of dealer markets under competition.’’ Journal of Fin...

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... arbitrage pri- cing’’. Journal of Finance 48: 1719–1747. 16 Barberis, N., Shleifer, A. (2003). A Survey of Behavioral Finance. In: Stulz, R. (ed.), Handbook of the Economics of Finance. North Holland, Ch. ... extent of BHCs’ Latin American loan exposures for both the passage of the IMF quota increase and the passage of the ILSA. Demirguc-kunt and Huizinga (1993) studied the...

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