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Full-Text Articles in Business
An Introduction To Financial Analysis, Annetta M. Gibson
An Introduction To Financial Analysis, Annetta M. Gibson
Faculty Publications
Presentation for Treasurers, Euro-Asia Division, July 18, 2013.
Lies! Lies! Lies!, Annetta M. Gibson
Lies! Lies! Lies!, Annetta M. Gibson
Faculty Publications
Presented at the General Conference Auditing Service Seminar, January, 2013
Analysis Of Reits And Reit Etfs Cointegration During The Flash Crash., Stoyu Ivanov
Analysis Of Reits And Reit Etfs Cointegration During The Flash Crash., Stoyu Ivanov
Faculty Publications
In this study I revisit the “disintegration hypothesis” of financial assets around a major crisis event. I examine whether the Vanguard Real Estate Investment Trust and iShares Dow Jones US Real Estate Index Fund exchange traded funds disintegrate from the ten largest Real Estate Investment Trusts during the 14:45 Flash Crash on May 6, 2010. I find that six of the ten largest REITs are not cointegrated with the Vanguard Real Estate Investment Trust prior to the Flash Crash and that five of the ten largest REITs are not cointegrated with iShares Dow Jones US Real Estate Index Fund prior …
Analysis Of The Effects Of Pre-Announcement Of S&P 500 Index Changes., Stoyu Ivanov
Analysis Of The Effects Of Pre-Announcement Of S&P 500 Index Changes., Stoyu Ivanov
Faculty Publications
In this study we attempt to answer the question – does the start of pre-announcing of S&P 500 index changes in October 1989 have an effect on the trading pattern of added or deleted firms? We document that prior to October 1989 the excess returns of added or deleted firms follow a white noise process around the event, whereas after the start of pre-announcing the excess returns can be described as nonstationary. This indicates significant excess profits to be captured around the addition or deletion event after S&P started pre-announcing changes in October 1989 but not prior to that date.
Cross-Border Mergers And Acquisitions And Country Risk Ratings: Evidence From U.S. Financials, Halil Kiymaz
Cross-Border Mergers And Acquisitions And Country Risk Ratings: Evidence From U.S. Financials, Halil Kiymaz
Faculty Publications
This study reports how country risk and macroeconomic conditions influence the wealth gains of U.S. financial firms involved in international mergers and takeovers. The findings suggest that U.S. financials experience weakly significant wealth gains around announcement date. The wealth gains are significant for takeovers in Latin America. There are also differences in wealth gains of subsector affiliations of financial firms. While banks experiencing wealth loss, both insurance and investment services firms having significant wealth gains. The country risk, including economic, political, and financial risk ratings, help to explain the wealth gains to financial bidders.