Quarterly Journal of Finance and Accounting

Articles from Vol. 55, No. 1-2, Spring

Corporate Stock Buybacks-Do They Enhance or Worsen Company Performance over Time?
This paper extends prior corporate stock buy back studies by evaluating the effect of stock buybacks on growth and non-growth industries. Regression results indicate that firms categorized in above average growth industries contain a higher degree...
Do the Properties of Analyst Earnings Forecasts Improve When Firms Are Managed by Female CFOs?
Using 1,021 CFO transitions, we find that analyst earnings forecasts become more dispersed after male CFOs are changed to male CFOs, whereas such deterioration in forecast dispersion is much weaker following male-to-female CFO transition. The result...
Liquidity, Information and the Size of the Forward Exchange Rate Bias
We first develop the theoretical rationale of the forward exchange rate unbiasedness hypothesis (FUH) for buyers of forward exchange under an assumption of risk neutrality and interest rate parity. Then by using Jensen's Inequality, we show that FUH...
Sovereign Risk Channels and Exchange Rates
This paper elucidates the channels through which sovereign risk and exchange rates are related. I show that the channels are different depending on whether a country is classified as an emerging or an advanced economy. Generally for emerging market...
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