Introduction

Abstract

It is hard to believe that I have edited 20 volumes of Research in Finance since 1985. The Series has made significant contributions to the literature by publishing many chapters on important topics in the fields of finance and economics. A total of 12 chapters in this volume represent some current research on interesting and important topics. Kane stresses the ideas that the character of a country's financial safety nets should be dynamic and its design must address differences in transparency, deterrency, and accountability that develop across time and across countries. Based upon a simple game-theoretic model, Panyagometh and Roberts show that a contingent purchase and assumption policy is the most effective choice for an acquirer of a failed bank in reducing moral hazard problems. In a subsequent chapter, Panyagometh and Roberts extend their analysis to show that a mandatory subordinated debt policy (MSDP) can be used with a contingent purchase and assumption policy to further reduce the probability of future bank failure. Chen et al. argue that it is fundamental to good corporate governance that the corporate managers must provide owners with accurate, timely, and complete disclosure of the firm's real options. O’Neill et al. use vector autoregressive models to examine the interrelationship between housing activity and general economic activity and find that the relationship has changed in some OECD countries.

Citation

Chen, A.H. (2009), "Introduction", Chen, A.H. (Ed.) Research in Finance (Research in Finance, Vol. 25), Emerald Group Publishing Limited, Bingley, pp. ix-x. https://doi.org/10.1108/S0196-3821(2009)0000025003

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