Research in finance:
In their paper, Kang, Karim and Rutledge apply a relative excess value ratio approach to empirically examine the association between the CEO compensations and the firms' performances. And Almisher, Buell and Kish, using accounting beta as a proxy for ex ante systematic risk of a firm, find a st...
Gespeichert in:
| Format: | Elektronisch E-Book |
|---|---|
| Sprache: | English |
| Veröffentlicht: |
Bingley, U.K.
Emerald
2002
|
| Schriftenreihe: | Research in finance
|
| Schlagworte: | |
| Online-Zugang: | DE-634 DE-1043 DE-M347 DE-523 DE-91 DE-473 DE-19 DE-355 DE-703 DE-20 DE-706 DE-824 DE-29 DE-739 Volltext |
| Zusammenfassung: | In their paper, Kang, Karim and Rutledge apply a relative excess value ratio approach to empirically examine the association between the CEO compensations and the firms' performances. And Almisher, Buell and Kish, using accounting beta as a proxy for ex ante systematic risk of a firm, find a strong positive relationship between the firm's systematic risk and the subsequent degree of underpricing of its IPO. Also in this volume, Kwan and Wilcox show the disparity between accounting and actual cost reductions in bank mergers, and point out the importance of avoiding the accounting bias in reporting the cost reduction in bank mergers.Gunther and Siems empirically find that a desire to hedge balance sheet positions and having a strong capital position are the key motivations for banks' involvement in derivatives activities. Shyu and Reichert examine the key financial and regulatory factors that determine the derivatives activities of both U.S. and foreign banks. In their paper, Yin, Wu and Chen explore the joint effects of the changes in capital regulation and deposit insurance system on banks' returns and risks in Taiwan. Based upon the one-factor equilibrium term structure model of Cox-Ingersoll-Ross, Chen and Chaudhury examine the market values and dynamic interest rate risks of existing swap positions.Chang and Ho derive formula of duration for different bonds under the Heath-Jarrow-Morton model of term structure and compare the relative performances of dynamic and static immunization strategies. In their paper, Boyle, Byoun and Park use intraday transactions data to show that the S&P 500 index option market leads the cash index, and that the lead-lag relation has resulted in a significant bias of the implied volatility that confirms their theoretical conjecture. Finally, Bubna uses a moral hazard model to address issues in the formation of syndicates in venture capital industry and to present some useful policy implications. May the contributions within this volume be of significant interest and usefulness to its readers. And may Research in Finance continue to publish papers of the highest caliber, to the benefit of academics and practitioners alike |
| Beschreibung: | 1 Online-Ressource (x, 321 Seiten) |
| ISBN: | 9781849501781 |
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| 505 | 8 | |a Introduction / Andrew H. Chen -- Ownership structure, agency costs and dividend policy / Mukesh Bajaj, Anand M. Vijh, Randolph W. Westerfield -- Managerial entrenchment and the effectiveness of internal governance mechanisms / Mark M. McNabb, John D. Martin -- An empirical analysis of the association between CEO compensation and firm performance : a relative excess value ratio approach / Joohun Kang, Khondkar E. Karim, Robert W. Rutledge -- The relationship between systematic risk and underpricing of the IPO market / Mohamad A. Almisher, Stephen G. Buell, Richard J. Kish -- Hidden cost reductions in bank mergers : accounting for more productive banks / Simon H. Kwan, James A. Wilcox -- The likelihood and extent of banks' involvement with interest rate derivatives as end users / Jeffery W. Gunther, Thomas F. Siems -- The determinants of derivative use by U.S. and foreign banks / Yih-Wen Shyu, Alan K. Reichert -- The impact of regulatory changes on banks' risks and returns in Taiwan / Hsien-yu Yin, Soushan Wu, Ding-yuan Chen -- The market value and dynamic interest rate risk of swaps / Andrew H. Chen, Mohammed M. Chaudhury -- The analysis of duration and immunization strategy under the HJM term structure framework / Chuang-Chang Chang, Ra-Jian Ho -- The lead-lag relation between spot and option markets and implied volatility in option prices / Phelim P. Boyle, Soku Byoun, Hun Y. Park -- Syndication among venture capitalists : when and with whom / Amit Bubna | |
| 520 | 3 | |a In their paper, Kang, Karim and Rutledge apply a relative excess value ratio approach to empirically examine the association between the CEO compensations and the firms' performances. And Almisher, Buell and Kish, using accounting beta as a proxy for ex ante systematic risk of a firm, find a strong positive relationship between the firm's systematic risk and the subsequent degree of underpricing of its IPO. Also in this volume, Kwan and Wilcox show the disparity between accounting and actual cost reductions in bank mergers, and point out the importance of avoiding the accounting bias in reporting the cost reduction in bank mergers.Gunther and Siems empirically find that a desire to hedge balance sheet positions and having a strong capital position are the key motivations for banks' involvement in derivatives activities. Shyu and Reichert examine the key financial and regulatory factors that determine the derivatives activities of both U.S. and foreign banks. | |
| 520 | 3 | |a In their paper, Yin, Wu and Chen explore the joint effects of the changes in capital regulation and deposit insurance system on banks' returns and risks in Taiwan. Based upon the one-factor equilibrium term structure model of Cox-Ingersoll-Ross, Chen and Chaudhury examine the market values and dynamic interest rate risks of existing swap positions.Chang and Ho derive formula of duration for different bonds under the Heath-Jarrow-Morton model of term structure and compare the relative performances of dynamic and static immunization strategies. In their paper, Boyle, Byoun and Park use intraday transactions data to show that the S&P 500 index option market leads the cash index, and that the lead-lag relation has resulted in a significant bias of the implied volatility that confirms their theoretical conjecture. Finally, Bubna uses a moral hazard model to address issues in the formation of syndicates in venture capital industry and to present some useful policy implications. | |
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| contents | Introduction / Andrew H. Chen -- Ownership structure, agency costs and dividend policy / Mukesh Bajaj, Anand M. Vijh, Randolph W. Westerfield -- Managerial entrenchment and the effectiveness of internal governance mechanisms / Mark M. McNabb, John D. Martin -- An empirical analysis of the association between CEO compensation and firm performance : a relative excess value ratio approach / Joohun Kang, Khondkar E. Karim, Robert W. Rutledge -- The relationship between systematic risk and underpricing of the IPO market / Mohamad A. Almisher, Stephen G. Buell, Richard J. Kish -- Hidden cost reductions in bank mergers : accounting for more productive banks / Simon H. Kwan, James A. Wilcox -- The likelihood and extent of banks' involvement with interest rate derivatives as end users / Jeffery W. Gunther, Thomas F. Siems -- The determinants of derivative use by U.S. and foreign banks / Yih-Wen Shyu, Alan K. Reichert -- The impact of regulatory changes on banks' risks and returns in Taiwan / Hsien-yu Yin, Soushan Wu, Ding-yuan Chen -- The market value and dynamic interest rate risk of swaps / Andrew H. Chen, Mohammed M. Chaudhury -- The analysis of duration and immunization strategy under the HJM term structure framework / Chuang-Chang Chang, Ra-Jian Ho -- The lead-lag relation between spot and option markets and implied volatility in option prices / Phelim P. Boyle, Soku Byoun, Hun Y. Park -- Syndication among venture capitalists : when and with whom / Amit Bubna |
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| series2 | Research in finance |
| spelling | Research in finance Bingley, U.K. Emerald 2002 1 Online-Ressource (x, 321 Seiten) c rdamedia cr rdacarrier Introduction / Andrew H. Chen -- Ownership structure, agency costs and dividend policy / Mukesh Bajaj, Anand M. Vijh, Randolph W. Westerfield -- Managerial entrenchment and the effectiveness of internal governance mechanisms / Mark M. McNabb, John D. Martin -- An empirical analysis of the association between CEO compensation and firm performance : a relative excess value ratio approach / Joohun Kang, Khondkar E. Karim, Robert W. Rutledge -- The relationship between systematic risk and underpricing of the IPO market / Mohamad A. Almisher, Stephen G. Buell, Richard J. Kish -- Hidden cost reductions in bank mergers : accounting for more productive banks / Simon H. Kwan, James A. Wilcox -- The likelihood and extent of banks' involvement with interest rate derivatives as end users / Jeffery W. Gunther, Thomas F. Siems -- The determinants of derivative use by U.S. and foreign banks / Yih-Wen Shyu, Alan K. Reichert -- The impact of regulatory changes on banks' risks and returns in Taiwan / Hsien-yu Yin, Soushan Wu, Ding-yuan Chen -- The market value and dynamic interest rate risk of swaps / Andrew H. Chen, Mohammed M. Chaudhury -- The analysis of duration and immunization strategy under the HJM term structure framework / Chuang-Chang Chang, Ra-Jian Ho -- The lead-lag relation between spot and option markets and implied volatility in option prices / Phelim P. Boyle, Soku Byoun, Hun Y. Park -- Syndication among venture capitalists : when and with whom / Amit Bubna In their paper, Kang, Karim and Rutledge apply a relative excess value ratio approach to empirically examine the association between the CEO compensations and the firms' performances. And Almisher, Buell and Kish, using accounting beta as a proxy for ex ante systematic risk of a firm, find a strong positive relationship between the firm's systematic risk and the subsequent degree of underpricing of its IPO. Also in this volume, Kwan and Wilcox show the disparity between accounting and actual cost reductions in bank mergers, and point out the importance of avoiding the accounting bias in reporting the cost reduction in bank mergers.Gunther and Siems empirically find that a desire to hedge balance sheet positions and having a strong capital position are the key motivations for banks' involvement in derivatives activities. Shyu and Reichert examine the key financial and regulatory factors that determine the derivatives activities of both U.S. and foreign banks. In their paper, Yin, Wu and Chen explore the joint effects of the changes in capital regulation and deposit insurance system on banks' returns and risks in Taiwan. Based upon the one-factor equilibrium term structure model of Cox-Ingersoll-Ross, Chen and Chaudhury examine the market values and dynamic interest rate risks of existing swap positions.Chang and Ho derive formula of duration for different bonds under the Heath-Jarrow-Morton model of term structure and compare the relative performances of dynamic and static immunization strategies. In their paper, Boyle, Byoun and Park use intraday transactions data to show that the S&P 500 index option market leads the cash index, and that the lead-lag relation has resulted in a significant bias of the implied volatility that confirms their theoretical conjecture. Finally, Bubna uses a moral hazard model to address issues in the formation of syndicates in venture capital industry and to present some useful policy implications. May the contributions within this volume be of significant interest and usefulness to its readers. And may Research in Finance continue to publish papers of the highest caliber, to the benefit of academics and practitioners alike Banks and banking Finance Research Chen, Andrew H. Sonstige oth https://www.emerald.com/insight/publication/doi/10.1016/S0196-3821(2002)19 Verlag URL des Erstveröffentlichers Volltext |
| spellingShingle | Research in finance Introduction / Andrew H. Chen -- Ownership structure, agency costs and dividend policy / Mukesh Bajaj, Anand M. Vijh, Randolph W. Westerfield -- Managerial entrenchment and the effectiveness of internal governance mechanisms / Mark M. McNabb, John D. Martin -- An empirical analysis of the association between CEO compensation and firm performance : a relative excess value ratio approach / Joohun Kang, Khondkar E. Karim, Robert W. Rutledge -- The relationship between systematic risk and underpricing of the IPO market / Mohamad A. Almisher, Stephen G. Buell, Richard J. Kish -- Hidden cost reductions in bank mergers : accounting for more productive banks / Simon H. Kwan, James A. Wilcox -- The likelihood and extent of banks' involvement with interest rate derivatives as end users / Jeffery W. Gunther, Thomas F. Siems -- The determinants of derivative use by U.S. and foreign banks / Yih-Wen Shyu, Alan K. Reichert -- The impact of regulatory changes on banks' risks and returns in Taiwan / Hsien-yu Yin, Soushan Wu, Ding-yuan Chen -- The market value and dynamic interest rate risk of swaps / Andrew H. Chen, Mohammed M. Chaudhury -- The analysis of duration and immunization strategy under the HJM term structure framework / Chuang-Chang Chang, Ra-Jian Ho -- The lead-lag relation between spot and option markets and implied volatility in option prices / Phelim P. Boyle, Soku Byoun, Hun Y. Park -- Syndication among venture capitalists : when and with whom / Amit Bubna Banks and banking Finance Research |
| title | Research in finance |
| title_auth | Research in finance |
| title_exact_search | Research in finance |
| title_exact_search_txtP | Research in finance |
| title_full | Research in finance |
| title_fullStr | Research in finance |
| title_full_unstemmed | Research in finance |
| title_short | Research in finance |
| title_sort | research in finance |
| topic | Banks and banking Finance Research |
| topic_facet | Banks and banking Finance Research |
| url | https://www.emerald.com/insight/publication/doi/10.1016/S0196-3821(2002)19 |
| work_keys_str_mv | AT chenandrewh researchinfinance |