◆ Daily Cross-Border Equity Flows: Pushed or Pulled(John M.Griffin&Federico Nardar

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Abstract In a model that is consistent with the existence of a home bias and with foreign investors that are less informed than domestic investors, we show that unexpectedly high worldwide returns le...

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2004-07-06

◆ Bidder Discounts and Target Premia in Takeovers(Boyan Jovanovic&Serguey Braguins

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Abstract When a takeover is announced, the sum of the stock-market values of the firms involved often falls, and the value of the acquirer almost always does. Does this mean that takeovers do not ra...

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2004-07-06

◆ Pricing Currency Risk: Facts and Puzzles from Currency Boards(Sergio L.Schmukler

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Abstract This paper investigates the patterns and determinants of the currency risk premium in two currency boards – Argentina and Hong Kong. Despite the presumed rigidity of currency boards, the c...

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2004-07-06

◆ Sharpening Sharpe Ratios(William etzmann&Jonathan Ingersoll)

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William etzmann Jonathan Ingersoll Matthew I. Spiegel Ivo Welch Abstract It is now well known that the Sharpe ratio and other related reward-to-risk measures may be manipulated with option-like...

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2004-07-06

◆ Competition, Information, and Development(Jean-Jacques Laffont)

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Abstract Developing countries suffer from weak institutions: inefficient tax systems, lack of auditing expertise, poor education, corruption, inefficient financial systems, lack of credibility of ver...

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2004-07-06

◆ On the Receiver Pays Principle(Doh-Shin Jeon&Jean-Jacques Laffont)

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Abstract This paper extends the theory of network competition between telecommunications operators by allowing receivers to derive a surplus from receiving calls (call externality) and to a®ect t...

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2004-07-06

◆ Renetiation of Concession Contracts in Latin America(J. Luis Guasch& Jean-Jacque

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J. Luis Guasch , Jean-Jacques Laffont and Stephane Straub 这篇是基于对拉美的实证研究。...

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2004-07-06

◆ Credit Rationing in Markets with Imperfect Information(Joseph E.Stiglitz,Andrew

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Stigliz&Weiss：Credit Rationing...

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2004-07-05

◆ Are Economists Different?(John Carter & Michael Irons)

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Are Economists Different, and If So, Why?, by John Carter and Michael Irons, Journal of Economic Perspectives, Spring 1991, Vol. 5. No. 2, pp. 171-177. ...

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2004-07-05

◆ How Prevalent is Tax Arbitrage_Evidence from the Market for Municipal Bonds(Merl

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Merle Erickson Austan olsbee Edward Maydew ...

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2004-07-01

◆ Dynamic Asset Allocation With Event Risk(Jun Liu&Francis A. Longstaff)

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by Jun Liu Francis A. Longstaff Jun Pan （两个中国学者） ...

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2004-07-01

◆ Bond Risk Premia(John H. Cochrane&Monika Piazzesi )

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John H. Cochrane Monika Piazzesi ...

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2004-07-01

◆ Analysts Conflict of Interest and Biases in Earnings Forecasts(Louis K. C. Chan&

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Louis K. C. Chan Jason Karceski Josef Lakonishok ...

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2004-07-01

◆ The Time Series of the Cross Section of Asset Prices(Lior Menzly&Tano Santos)

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In this paper we propose a general equilibrium model that successfully reproduces the historical experience of the cross section of US stock prices as well as the realized history of the market portfo...

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2004-07-01

◆ Finance Applications of Game Theory(Franklin Allen&Stephen Morris)

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Finance Applications of Game Theory...

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2004-07-01