Journal of Applied Finance

Journal of Applied Finance is a trade journal focusing on Applied Finance

Articles from Vol. 14, No. 2, Fall

Market Efficiency and Diversification: An Experiential Approach Using the Wall Street Journal's Dartboard Portfolio
The concepts of market efficiency and portfolio diversification are easy to understand, but it is difficult for some to comprehend the relation of risk and return. A good way to teach these concepts uses the Wall Street Journal's dartboard contest, where...
Merger Motives and Target Valuation: A Survey of Evidence from CFOs
This study provides insights about the motives for mergers and acquisitions (M&As) as well as divestitures and the practices used to value targets during 1990-2001. The survey evidence shows that the primary motivation for M&As is to achieve...
Regulatory Challenges in the Securities Industry
This is an edited version of Dr. Glauber's address to the FMA Annual Meeting Luncheon, October 8, 2004.The 90s-era corporate governance debacles at Enron, WorldCom, and elsewhere coincided, more or less, with a spate of scandals and misdeeds in the securities...
The Long-Term Value of Analysts' Advice in the Wall Street Journal's Investment Dartboard Contest
For nearly thirteen years, the Investment Dartboard column featured the stock recommendations of prominent equity analysts in a contest with the stocks selected by Journal staffers throwing darts. Over the life of the column, investors who rebalanced...
The Reporting of Island Trades on the Cincinnati Stock Exchange
Island is the largest electronic communications network in the US. On March 18th 2002, it began reporting trades to the Cincinnati Stock Exchange (CSE) to reduce costs. We use the information generated following this trade reporting change to analyze...
The True Value of EVA®
Stern Stewart & Company (SSC) developed the measure, Economic Value Added (EVA®), to reward employees for maximizing shareholder wealth. Financial analysts also use EVA to measure firm performance. This study assesses the performance of companies...