Quarterly Journal of Business and Economics

The Quarterly Journal of Business and Economics presents scholarly articles in finance, accounting, economics, management and marketing.

Articles from Vol. 43, No. 1-2, Winter-Spring

A Reexamination of Information Flow in Financial Markets: The Impact of Regulation FD and Decimalization
Introduction and Motivation Corporate disclosure has long been a controversial and complicated issue. As the violations of insider trading laws over the years have shown, individuals occasionally profit from material corporate information that has...
On the Evolution of Inter-And Intraregional Linkages to Middle East and North African Capital Markets
Introduction Middle East and North African region (MENA) countries are rarely referred to as influential countries in the global financial scene. Wars, political turmoil, economic instability, and institutional underdevelopment have traditionally...
Pay Discrimination in the NBA Revisited
Introduction The use of the residual method to measure wage discrimination is fraught with problems. Oaxaca (1973) stated: If it were possible to control for virtually all sources of variation in wages, one could pretty well eliminate labor...
Repeated LBOs: The Case of Multiple LBO Transactions
Introduction A sequence of actions is required to classify a firm as undergoing a repeated leverage buyout (LBO). The firm must be traded publicly, then must go private via an LBO, subsequently must obtain public status again through a new initial...
Testing for Seasonal Behavior of Monthly Stock Returns: Evidence from International Markets
Introduction Testing for seasonal effects in monthly returns has been given considerable attention in the literature. The presence of a January effect has been much studied and is evident in most of the industrialized countries' stock markets; see,...
The Valuation Effect of Government's Merger Challenges: Evidence from a Regulated Industry
Introduction Numerous studies have documented positive stock price reactions to rivals of acquisition targets (Eckbo 1983, 1992; Stillman 1983; Eckbo and Wier 1985, Mitchell and Mulherin 1996, and Song and Walking 2000). The explanations for the...
Time-Varying Skewness in Stock Returns: An Information-Based Explanation
Introduction The presence of both positive and negative skewness in individual and portfolio stock return distributions is well documented in the literature (Beedles, 1979: Schwert, 1990; Aggarwal and Aggarwal, 1993; Alles and Kling, 1994; and Bekaert,...
Untangling the Effects of Credit Cards on Money Demand: Convenience Usage vs. Borrowing
Introduction In the early 1990s, the popular press painted a picture of the credit card industry as a wolf pack devouring the innocent sheep who were borrowers. And it is true that from 1983 to 1995 average consumer revolving credit rose from $291...