Business Commons^™

The Effects Of Stock Distributions On Returns, Volatility, And Price, Jason Heavilin

Open Access Theses & Dissertations

This Dissertation investigates three issues regarding the effects of stock distributions on returns, volatility, and prices in an attempt to answer the questions why firms execute stock distributions and why the market appears to favor them. These questions have occupied academicians for at least 40 years (i.e., Fama et al (1969), Ohlson and Penman (1985), Rankine and Stice (1997), Angel (1997), and Crawford et al (2005) among many others).

Chapter 1 studies the notion that the stock market reacts more positive to stock dividends than to stock splits (Rankine and Stice, 1997). However, I find that the stock market does …

Waiting For The Confidence Fairy: An Analysis Of European Sovereign Bond Spreads Before And After The Financial Crisis, David Uresti

Open Access Theses & Dissertations

The 2008 Financial Crisis that began in the United States caused widespread panic throughout the financial sector which resulted in the collapse of some companies and large losses for others. The availability of credit declined even as investor confidence continued to deteriorate. The European periphery concluded that the Financial Crisis would be relegated to the American economy. However, in 2009 Greece suffered a credit downgrade that signaled that the financial shock entered European shores. Shortly thereafter Spain suffered a credit downgrade followed by Italy in 2010. Suddenly the threat of default by a number of European countries became very real. …