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The Crisis In State Highway Finances: Its Roots, Current Effects, And Some Possible Remedies, Juita-Elena Yusuf, Lenahan O'Connell
The Crisis In State Highway Finances: Its Roots, Current Effects, And Some Possible Remedies, Juita-Elena Yusuf, Lenahan O'Connell
School of Public Service Faculty Publications
This paper focuses on the American states and the sources of the expanding structural imbalance between their highway-related revenues on the one hand and expenditures for transportation infrastructure needs on the other. The paper describes the roots of the funding problem over recent decades, looks at some of the responses taken at the state and federal level, and discusses their inherent limitations as solutions to this funding crisis. The paper also presents several policy recommendations for increasing revenues. We demonstrate that a variable rate gas tax indexed to the construction cost index and improvements in automobile fuel efficiency and a …
Do Neglected Firms Suffer From An Information Deficit?, Kenneth Yung, Hamid Rahman, Qian Sun
Do Neglected Firms Suffer From An Information Deficit?, Kenneth Yung, Hamid Rahman, Qian Sun
Finance Faculty Publications
We study the presence and distribution of private information in neglected firm stocks using a measure of private information first suggested by Roll (1988). Our results suggest that there is no shortage of information on neglected firms for investors and that this private information forms part of the decision set for managerial decisions. Our results indicate a significant negative correlation between the amount of private information and certain important firm characteristics such as market size, cash flow, sales and return on assets. When the impact of private information is analyzed on the investment and payout policies of the neglected firms, …