Journal of Economics and Finance

Publishes theoretical and empirical articles in the general areas of economics and finance. 

Articles from Vol. 33, No. 1, January

Agency Problems in Tracking Stock and Minority Carve-Out Decisions: Explaining the Discrepancy in Short- and Long-Term Performances
AbstractSeveral studies have evaluated short- and long-term performances of parent firms who resort to restructuring via tracking stock or minority carve-out. Results show that short-term positive performance of restructuring parents turns negative in...
A Multivariate Unobserved Component Analysis of US Housing Market
AbstractThis study explores price dynamics and price relationships in the US housing market with a focus on four regions: Northeast, Midwest, South, and West. It applies a multivariate state-space model to identify the common trends and common cycles...
Do Liquidity Induced Changes in Aggregate Dividends Signal Aggregate Future Earnings Growth?
AbstractExtant empirical literature does not provide abundant evidence for the information content hypothesis regarding firm-level dividend signaling. Although this is consistent with the argument against an optimal firm-level dividend policy, this does...
Equilibrium Exchange Rates in Oil-Exporting Countries
Published online: 23 October 2008© Springer Science + Business Media, LLC 2008AbstractWe assess the determinants of equilibrium real exchange rates in a sample of oil-dependent countries. Our data cover OPEC countries from 1975 to 2005. Utilising pooled...
How Useful Are Signals? A Micro-Structure Analysis
Published online: 30 November 2007© Springer Science + Business Media, LLC 2007AbstractWe analyze how the market processes a signaling event by studying a sample of self-tender offers, events often viewed as signals of firm value. By examining changes...
Inter-Industry Differences in Layoff Announcement Effects for Financial Institutions
AbstractThis study expands the examination of workforce layoffs by banks to include non-bank financial institutions and explores inter-industry differences in market reactions to layoff announcements. In examining inter-industry differences, we control...
On Understanding Mutual Fund Terminations
Published online: 25 January 2008© Springer Science + Business Media, LLC 2007AbstractWe examine the determinants of US mutual fund terminations and provide estimates of mutual fund hazard functions. We find that mutual fund termination correlates with...