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Social and Behavioral Sciences Commons™
Open Access. Powered by Scholars. Published by Universities.®
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- Agency problems (1)
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- Cat and mouse game (1)
- Cross-listings (1)
- Dynamic Panel Data Methods (1)
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- Economic & social conditions (1)
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Articles 1 - 5 of 5
Full-Text Articles in Social and Behavioral Sciences
Cross-Listing Performance And Insider Ownership: The Experience Of U.S. Investors, Omar A. Esqueda, Dave Jackson
Cross-Listing Performance And Insider Ownership: The Experience Of U.S. Investors, Omar A. Esqueda, Dave Jackson
Economics and Finance Faculty Publications and Presentations
Insider-owned firms pursue U.S. cross-listings following periods of extraordinary performance. However, the long-run post-cross-listing abnormal returns become negative only for insider-controlled cross-listings. We find that the Sarbanes–Oxley Act (SOX) has mitigated the market-timing attempts as negative abnormal returns are limited to the pre-SOX period, supporting a cross-listing bonding benefit after U.S. securities regulation was enhanced. In addition, investors anticipate future operating performance as stock returns incorporate forthcoming operating outcomes one and two years ahead. Whereas capital-raising cross-listings show better operating performance than non-capital-raising, the returns of capital-raising firms are more sensitive to the potential agency problems created by insider-ownership.
The Economics Of Counterfeiting, Elena Quercioli, Lones Smith
The Economics Of Counterfeiting, Elena Quercioli, Lones Smith
Economics and Finance Faculty Publications and Presentations
We develop a strategic theory of counterfeiting as a multi-market large game. Bad guys choose whether to counterfeit, and what quality to produce. Opposing them is a continuum of good guys who select a costly verification effort. In equilibrium, counterfeiters produce better quality at higher notes, but verifiers try sufficiently harder that verification still improves. We develop a graphical framework for deducing comparative statics. Passed and counterfeiting rates vanish for low and high notes. Our predictions are consistent with time series and cross-sectional patterns in a unique data set assembled largely from the Secret Service
Yet More Studies In Rio Grande Valley History, Milo Kearney, Anthony K. Knopp, Antonio Zavaleta, Thomas Daniel Knight
Yet More Studies In Rio Grande Valley History, Milo Kearney, Anthony K. Knopp, Antonio Zavaleta, Thomas Daniel Knight
UTRGV & TSC Regional History Series
Frontera, a poem / Elvira Ardalani -- Strasbourg, Alsace, and Brownsville, Texas : ideal sister cities / Milo Kearney -- La concepción de la identidad fronteriza en Jovita Gonzalez y Adela Sloss de Vento / Laura Garza -- Cuando se fundo Matamoros? / Andres F. Cuellar -- The formation and early development of the Llano Grande / Maria Vallejo -- Doño Rosa Maria Hinojosa de Balli and her family : a lower Rio Grande Valley family in an Atlantic perspective / Thomas Daniel Knight -- Clarksville : a forgotten community on the Rio Grande / Jim Mills -- The last …
Expectations And The Dynamic Feedback Between Foreign Direct Investment And Economic Growth, Diego Escobari, Diego E. Vacaflores
Expectations And The Dynamic Feedback Between Foreign Direct Investment And Economic Growth, Diego Escobari, Diego E. Vacaflores
Economics and Finance Faculty Publications and Presentations
This paper seeks to analyze the dynamic feedback between Foreign Direct Investment (FDI) and economic growth – larger FDI promotes higher GDP, while higher GDP can be achieved with higher levels of FDI. We use panels and a sample of 19 Latin American countries to estimate a dynamic FDI and a dynamic GDP equation that jointly characterize the evolution of both variables. We find that the dynamics of GDP and FDI are mostly driven by the expectations. Shocks of GDP or FDI were found to play no role affecting the dynamics.
The Impact Of Securitization And Bank Liquidity Shocks On Bank Lending: Evidence From The U.S., Peter V. Egly, Dave Jackson, David W. Johnk
The Impact Of Securitization And Bank Liquidity Shocks On Bank Lending: Evidence From The U.S., Peter V. Egly, Dave Jackson, David W. Johnk
Economics and Finance Faculty Publications and Presentations
The securitization expansion preceding the 2007-2009 financial crisis introduced alternative liquidity sources and increased bank lending capacity. During the securitization expansion there was a rise and subsequent collapse of the subprime mortgage market. We investigate the impact of securitization and the subprime mortgage collapse on bank lending during the crisis. The results suggest that securitization, for the large and money-center bank, is a cost effective liquidity source since traditional bank funding costs play a diminished role in the supply of bank lending. We find that for the small and medium bank samples increases in REPO rates fostered lending during the …