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Full-Text Articles in Business
The Case Against Stock Picking, Charles J. Higgins
The Case Against Stock Picking, Charles J. Higgins
Finance Faculty Works
This paper brings together various topics in finance--the Capital Asset Pricing Model, Portfolio Theory, the empirical evidence, and the Efficient Market Hypothesis--to address whether individual security selection--Stock Picking--is or is not a meritorious venture.
In Defense Of The Traditional Ira, Charles J. Higgins
In Defense Of The Traditional Ira, Charles J. Higgins
Finance Faculty Works
No abstract provided.
Investor Protection And Cash Holdings: Evidence From U.S. Cross-Listing, Ying Huang, Susan Elkinawy, Pankaj K. Jain
Investor Protection And Cash Holdings: Evidence From U.S. Cross-Listing, Ying Huang, Susan Elkinawy, Pankaj K. Jain
Finance Faculty Works
This paper examines (i) whether the level of firms’ cash holdings differ depending on the strength of investor protection, (ii) whether excess cash holdings are valued more with better investor protection, and (iii) whether cross-listed firms that improve investor protection through “bonding” hold relatively more cash than non-cross-listed firms. We analyze 1405 ADR firms and their corresponding matched firms from 39 different countries and document that ADR firms have significantly higher cash holdings relative to their non-cross-listed peers, especially in recent years. The increase in cash holdings is much higher for emerging market firms because of their transition from particularly …