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Evidence on Corporate Hedging Policy
This paper provides empirical evidence on the determinants of corporate hedging decisions. The paper examines the evidence in light of currently mandated financial reporting requirements and, inExpand
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Accounts Receivable Management Policy: Theory and Evidence
This paper develops and tests hypotheses that explain the choice of accounts receivable management policies. The tests focus on both cross-sectional explanations of policy-choice determinants, asExpand
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On the choice and replacement of chief financial officers
Abstract This paper provides empirical evidence regarding why firms replace their CFOs. Empirical tests are based on a sample of 2,227 CFO appointments over the 1984–1997 time period. Key findingsExpand
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On the Structure of Analyst Research Portfolios and Forecast Accuracy
ABSTRACT This study provides insights into the forces and constraints that shape analyst research coverage along country and sector dimensions and the impact of the structure of an analyst'sExpand
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Corporate takeovers, firm performance, and board composition
This paper examines the relationship between corporate takeovers and the hoard of directors as alternative control mechanisms to discipline top management. Previous research shows that CEO turnoverExpand
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The Nature of Discipline by Corporate Takeovers
This paper provides a comprehensive examination of the disciplinary role of the corporate takeover market using a sample of U.S. target firms over the period 1979 to 1998. The time period spannedExpand
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Takeover Activity and the Long-Run Performance of Reverse Leveraged Buyouts
This study examines the long-term stock price performance of firms that experience a reverse leveraged buyout (LBO), and further explores the high incidence of takeover activity that occurs withinExpand
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Bid-Ask Spread And Ownership Structure
In this paper we examine the relation between bid-ask spread and ownership structure variables based on 1985 data for 1,063 NYSE firms. We document a nonpositive relation between bid-ask spread andExpand
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INCENTIVES FOR UNCONSOLIDATED FINANCIAL REPORTING
Abstract We provide a positive analysis of a firm's decision to report the operations of a financial subsidiary on a consolidated versus an unconsolidated basis. Our evidence indicates that the firmExpand
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Financial Reporting of Derivatives: An Analysis of the Issues, Evaluation of Proposals, and A Suggested Solution
The current financial accounting rules for derivatives are internally inconsistent, not uniform across various types of derivatives, and incomplete. A survey of derivatives users and our analysis ofExpand
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