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Research in Finance

ISBN: 978-0-76231-277-1, eISBN: 978-1-84950-391-4

ISSN: 0196-3821

Publication date: 1 January 2005


A total of 12 papers in this volume represent some current research on important topics in finance. The contributions include analyses of issues relating to the recent reforms on corporate governance, the behavior of stock returns, the option pricing models, the financial regulation and banking theory, and the international finance. Kensinger and Poe argue that the legal status of corporations and the higher costs of Sarbanes-Oxley will accelerate further hollowing of public corporations. Using stock price reactions to the information in joint venture announcements, Keown, et al. find that the market considers relevant information for valuing the firms apart from the joint venture itself. Based upon data from a large sample of global financial markets, Cao and Wei find empirical evidence strongly supporting the negative relationship between stock returns and temperature. Kang and Ding find differential results of stock returns on the financial signals in Asian financial markets. Chen et al. develop a binomial-tree pricing model for Stock Participation Accreting Redemption Quarterly pay Securities (SPARQS), and show the pricing performance of the model. Lai and Soumare analyze the investment incentives in project finance in the presence of government financial guarantees. Chang et al. develop option-pricing models with price limits and market illiquidity and show that both of these market imperfections have significant impact on the option values.


Chen, A.H. (2005), "Introduction", Chen, A.H. (Ed.) Research in Finance (Research in Finance, Vol. 22), Emerald Group Publishing Limited, Bingley, pp. ix-x.



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