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Research in financeVol. 20

Chen, Andrew H.

Research in financeVol. 20

Record Type:	Electronic resources : Monograph/item
Title/Author:	Research in finance
other author:	Chen, Andrew H.
Published:	Bingley, U.K. :Emerald,2003.
Description:	1 online resource (viii, 247 p.).
Subject:	Finance
Online resource:	http://www.emeraldinsight.com/0196-3821/20
ISBN:	9781849502511 (electronic bk.)

Research in financeVol. 20
Research in financeVol. 20[electronic resource]. - Bingley, U.K. :Emerald,2003. - 1 online resource (viii, 247 p.). - Research in finance,0196-3821.

Introduction / Andrew H. Chen -- Impact of differential and double taxation on corporate financial policies in an inflationary world / Andrew H. Chen, Edward J. Kane -- Price ceiling regulationof a tax evadingmonopolist / Partha Sengupta -- Depositor preference legislation and failed banks resolution costs / William P. Osterberg, James B. Thomson -- Secondary mortgage markets, GSEs, and the changing cyclicality of mortgage flows / Joe Peek, James A. Wilcox -- Increasing market disciplineon banks : subordinated debt and bank loan sales / Andrew H. Chen, Kenneth J. Robinson, Thomas F. Siems -- Using zero-non-zero patterned vector autoregressive modelling to test for causality between money supply,GDP growth, the London stock market index and the Euro exchange rate /Edward J.Y. Lin, J.H.W. Penm, R.D. Terrell, Soushan Wu -- Fragile fixed exchange rates with banking safety net guarantees / Stephen A. Kane, Mark L. Muzere -- Long memory in currency futures volatility / Ching-Fan Chung, Mao-Wei Hung, Yu-Hong Liu -- Valuation of pension benefit guarantees and termination conditions /Jin-Ping Lee, Shih-Cheng Lee, Min-Teh Yu -- Announcement effects of specially designated dividends / Ken Hung, Chang-Wen Duan, Gladson I. Nwanna -- The optimization of efficientportfolios : the case for an r&d quadratic term / John B. Guerard, Andrew Mark.

Eleven papers in this volume present some current interesting and important research in finance. Based upon the CAPM, Chen and Kane show that double taxation and differential tax rates on a personal and capital-gains income, affect corporate stock values and financial policies in nonneutral ways. Sengupta shows tax evasion decisions of a monopolist in a price-ceiling regulatory environment.In their paper, Osterberg andThomson empirically examine the impact of state-level deposit preference laws on resolution type and costs for all operating FDIC-BIF insuredcommercial banks that were closed, or required FDIC financial assistance, from January 1986 through December 1992. Peek and Wilcox show that during periods of international financial crises, or of domestic economic stress, the government-sponsored enterprises (GSEs) are well suited to stabilize mortgage markets.In their paper, Chen, Robinson and Siems empirically show the association between banks' subordinated debt and theirloan sales activities and its implications in the transmission mechanism of monetary policy. Also in this volume, Lin et al. use the Granger causality test to examine the linkage between the euro exchange rate and the money supply and GDP in the euro community, as well as its impact on the UK exchange rate and the London stock exchange market index. In their paper, Kane and Muzere extend the Diamond-Dybvig model of bank runs to an open market economy and show that adding the central banks and the IMF, guarantees will reduce, but not eliminate the banking aswell as currency crises. The paper by Chung et al. empirically shows the presence of a long memory, property in currency, future markets, anddiscusses its hedging implications. In their paper, Lee, Lee and Yu develop a valuation model for the pension benefit guarantees that incorporates the plan termination conditions as well as a stochastic interest rate. In a case study, Hung et al. empirically show that the specially designed dividends (SDD) have positive signals in the Taiwan Stock Exchange. Finally, in their paper, Guerard and Mark show that the use of anR&D quadratic term enhances the mean-variance efficient portfolios andstockholder returns.

ISBN: 9781849502511 (electronic bk.)Subjects--Topical Terms:

236498
Finance

LC Class. No.: HG152 / .R47 2003

Dewey Class. No.: 332.04

Universal Decimal Class. No.: 336

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505 0 $a Introduction / Andrew H. Chen -- Impact of differential and double taxation on corporate financial policies in an inflationary world / Andrew H. Chen, Edward J. Kane -- Price ceiling regulationof a tax evadingmonopolist / Partha Sengupta -- Depositor preference legislation and failed banks resolution costs / William P. Osterberg, James B. Thomson -- Secondary mortgage markets, GSEs, and the changing cyclicality of mortgage flows / Joe Peek, James A. Wilcox -- Increasing market disciplineon banks : subordinated debt and bank loan sales / Andrew H. Chen, Kenneth J. Robinson, Thomas F. Siems -- Using zero-non-zero patterned vector autoregressive modelling to test for causality between money supply,GDP growth, the London stock market index and the Euro exchange rate /Edward J.Y. Lin, J.H.W. Penm, R.D. Terrell, Soushan Wu -- Fragile fixed exchange rates with banking safety net guarantees / Stephen A. Kane, Mark L. Muzere -- Long memory in currency futures volatility / Ching-Fan Chung, Mao-Wei Hung, Yu-Hong Liu -- Valuation of pension benefit guarantees and termination conditions /Jin-Ping Lee, Shih-Cheng Lee, Min-Teh Yu -- Announcement effects of specially designated dividends / Ken Hung, Chang-Wen Duan, Gladson I. Nwanna -- The optimization of efficientportfolios : the case for an r&d quadratic term / John B. Guerard, Andrew Mark.
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