While many researchers have documented a pronounced seasonality of stock returns in the
month of January, a universally accepted theory of why this so‐called “January effect” …

A simple single-period model of entrepreneurial capital structure choice under conditions of
informational asymmetry is developed. The uncertain terminal cash flow generated by a …

In an inisiglhtftll paper in th-is joulrnial, Mayers and (Smilitlh (M4S)[1] posit corporate inistiranice
as a (levice to conitr-ol the tiun (lerinivestintenit problemi Which occtirs wlheni a firimi …

Investments that yield nonpecuniary benefits have been studied empirically in previous
research; the existence of such benefits has been inferred as the difference between actual …

A reformulation of the CAPM is derived by taking account of short-sales restrictions on both
risky and safe assets. The induced security market line is shown to be consistent with the …

This paper argues that, to properly employ the PEG ratio criterion for the determination of
under/overvalued shares, the traditional benchmark of 1 is not appropriate and that the …

The classic single-period inventory problem, colloquially referred lo in the literature as the
newsboy problem, is examined assuming the objective of maximizing a mean-variance utility …

Purpose – The purpose of this paper is to examine the nexus between interest rate changes
and commodity spot prices. Design/methodology/approach – The cost‐of‐carry model of …

Purpose – This paper seeks to argue that any competitive advantage realized by a firm that
produces domestically and exports to a foreign market due to a real depreciation (…

The Adler-Dumas simple regression approach to foreign exchange exposure measurement
and hedging is extended to the case of exposure to many currencies.