We examine the role of investment opportunities and free cash flow in explaining R&D-induced
abnormal returns. After controlling for firm size, financial leverage, dividend yield, …

In this paper we use cointegration tests to examine the long‐run diversification potential of
13 emerging capital markets. The Johansen [18] and Johansen and Juselius [19] …

We examine the effect of announcements of plans to increase R&D expenditures on the
stock price of rival firms. We test two alternative hypotheses: the first‐to‐innovate hypothesis …

… SH Szewczyk and GP Tsetsekos, PA SB1310 and the market … SH Szewczyk and GP Tsetsekos,
PA SB1310 and the market … Szewczyk and GP Tsetsekos, PA SB1310 and the market for …

This study reports the findings of a comprehensive mail questionnaire survey of the stock
repurchase programs of major US corporations. Emphasis is placed on understanding the …

This paper investigates the extent to which institutional ownership of equity affects the market's
response to announcements of new issues of common stock. We find that the absolute …

This study examines the valuation consequences of domestic and foreign divestments by
comparing the stock price reaction to announcements of domestic plant closings and foreign …

This study demonstrates that a plant closing announcement provides information not just for
the plant being closed but also for other operations and the firm as a whole. An examination …

We argue that ‘emerging’ security markets, as defined by IFC, have characteristics differentiated
from their counterparts in industrialized nations not only due to differential levels of …

This paper tests the proposition that split announcements are informative signals that play a
greater information role for widely held firms. We present evidence for an inverse …