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2004

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Institution
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Articles 1621 - 1624 of 1624

Full-Text Articles in Business

Whence Garch? A Preference-Based Explanation For Conditional Volatility, Grant Mcqueen, Keith Vorkink Jan 2004

Whence Garch? A Preference-Based Explanation For Conditional Volatility, Grant Mcqueen, Keith Vorkink

Faculty Publications

We develop a preference-based equilibriumasset pricing model that explains low frequency conditional volatility. Similar to Barberis, Huang, and Santos (2001), agents in our model care about wealth changes, experience loss aversion, and keep a mental scorecard that a¤ects their level of risk aversion. A new feature of our model is that when perturbed by unexpected returns, investors become temporarily more sensitive to news. Gradually, investors become accustomed to the new level of wealth, restoring prior levels of risk aversion and news sensitivity. The state-dependent sensitivity to news creates the type of volatility clustering found in low frequency stock returns. We …


Corporate Governance And Dividend Policy In Emerging Markets, Todd Mitton Jan 2004

Corporate Governance And Dividend Policy In Emerging Markets, Todd Mitton

Faculty Publications

In a sample of 365 firms from 19 countries, I show that firms with stronger corporate governance have higher dividend payouts, consistent with agency models of dividends. In addition, the negative relationship between dividend payouts and growth opportunities is stronger among firms with better governance. I also show that firms with stronger governance are more profitable, but that greater profitability explains only part of the higher dividend payouts. The positive relationship between corporate governance and dividend payouts is limited primarily to countries with strong investor protection, suggesting that firm-level corporate governance and country-level investor protection are complements rather than substitutes.


Contributions Of Family Leisure To Family Functioning Among Transracial Adoptive Families, Ramon B. Zabriskie, Patti Freeman Jan 2004

Contributions Of Family Leisure To Family Functioning Among Transracial Adoptive Families, Ramon B. Zabriskie, Patti Freeman

Faculty Publications

The purpose of this study was to examine family leisure behavior among intact families with transracial adoptive children and make comparisons to a broad sample of families with only biological children. The sample consisted of 197 adoptive families. Data were analyzed from a parent, youth, and family perspective. The Family Leisure Activity Profile (FLAP) was used to determine family leisure involvement. FACES II was used to measure family functioning. Findings indicated that measures of family cohesion, family adaptability, and family functioning were higher among the adoptive family sample. Core, balance, and total family leisure involvement were also higher among the …


The Influences Of Family Leisure Patterns On Perceptions Of Family Functioning*, Ramon B. Zabriskie, Bryan P. Mccormick Jan 2004

The Influences Of Family Leisure Patterns On Perceptions Of Family Functioning*, Ramon B. Zabriskie, Bryan P. Mccormick

Faculty Publications

This study conducted a preliminary test of a model of family leisure functioning by examining the relationship of core and balance family leisure patterns to family cohesion and adaptability. We hypothesized that core family leisure patterns address family needs for stability, facilitate the development of cohesive relationships, and are related to perceptions of family cohesion, whereas balance family leisure patterns address family needs for change, facilitate the development of adaptive skills, and are related to perceptions of family adaptability. Findings from 2 multiple regression analyses provided preliminary support for the model. Conclusions and implications are discussed.