Faculty Research

Search Publications

Recent Journal Publications by COB Faculty

Search Publications

[clear]
Publication Type Publication Type
Discipline Discipline
Author Author
Year Published Year Published
Filter & Sort Results: 135

Sort by

Apply
Cancel
Showing results for: ""
Results:
Academic Journal
Finance

“Internal Governance and Performance: Evidence From When External Discipline is Weak”

The effect of internal governance on performance is potentially economically significant but may be difficult to identify because of confounding external disciplinary mechanisms and the endogenous choice of internal governance. This study addresses those difficulties by using nonprofit hospitals as an economic environment with muted external disciplinary mechanisms and instrumenting for internal governance using governance spillovers of geographically local public firms. Using patient heart attack survival as a measure of performance, a one standard deviation increase in strength of internal governance reduces the probability of death by 0.89 percentage points after controlling for patient characteristics.
Details

193-216 pages 2017 Jonathan Kalodimos View on: Google Scholar

Academic Journal
Finance

“International diversification with frontier markets”

We provide an analysis of frontier market equities with respect to world market integration and diversification. Principal component results reveal that frontier markets exhibit low levels of integration. In contrast with developed and emerging markets, frontier markets offer no indication of increasing integration through time. Furthermore, individual frontier market countries do not exhibit consistent rates of changing integration. Structural break tests identify breakpoints in integration, as well as integration dynamics across countries. We show that frontier markets have low integration with the world market and thereby offer significant diversification benefits.
Details

227-242 pages 2011 David Berger Kuntara Pukthuanthong Jimmy Yang View on: Google Scholar

Academic Journal
Finance

“Internationalization and Regional Entrepreneurship in China”

This study examines the importance of geographic location on the empirical link between internationalization and entrepreneurial intention. Integrating data from multiple sources to create a measure of internationalization intensity, this study directly contributes to the literature by revealing a significant and more complex relationship between internationalization and entrepreneurship than previously suggested in the literature. Specifically, while highly internationalized locations allow better access to resource markets they may also hinder entrepreneurship for several reasons, including the fact that these locations have higher competition for resources. Results provide direct empirical support to recent theories on the importance of within country comparative differences.
Details

2019 Springer Julie Ann Elston Alois Weidinger View on: Google Scholar

Academic Journal
Finance

“Investor perceptions and volatility within the risk-return tradeoff”

Conditional asset pricing models within the risk-return literature describe a relation between expected risk and return for period t+1, with expectations formed during period t. Existing risk estimates in the literature are formed using backwards looking measures during period t, which are projected forward for period t+1. Evidence suggests ex post observations do not always correspond with conditional ex ante expectations. Using forward looking survey data, I compare measures of expected risk, with common estimates of risk in the literature. Supporting empirical research, I find a strong relation between forward looking investor risk perceptions and conditional risk estimates.
Details

2010 David Berger View on: Google Scholar

Academic Journal
Finance

“Long-Horizon Seasoned Equity Performance in the Pacific Rim Financial Markets”

Previous studies of firms that issue seasoned equity in the US and Japan have found that these firms significantly underperform over the long-run subsequent to the issue. I offer further evidence of this by examining Japanese seasoned offerings (SEOs) from 1975 to 1992. I find similar results for firms issuing seasoned equity in Hong Kong. However, I also find that Korean SEOs generate insignificant abnormal returns over a 36-month period following the issue. These results suggest that the asymmetric information argument offered for the US and Japanese markets do not always hold, especially in markets where the regulatory and market structures vary greatly. Cross-sectional results suggest that younger firms tend to perform worse than older firms.
Details

317-333 pages 2002 Review of Financial Economics Prem Mathew

Academic Journal
Finance

“Many analysts, one dataset: Making transparent how variations in analytical choices affect results”

Details

2018 Association for Psychological Science R Silberzahn E Uhlmann D Martin P Anselmi F Aust E Awtrey S Bahník F Bai C Bannard E Bonnier R Carlsson F Cheung G Christensen R Clay M Craig A Rosa L Dam M Evans I Cervantes N Fong M Gamez-Djokic A Glenz S Gordon-McKeon T Heaton K Eriksson M Heene A Mohr F Högden K Hui M Johannesson Jonathan Kalodimos E Kaszubowski D Kennedy R Lei T Lindsay S Liverani C Madan D Molden E Molleman R Morey L Mulder B Nijstad B Pope N Pope J Prenoveau F Rink E Robusto H Roderique A Sandberg E Schlueter F Schönbrodt M Sherman S Sommer K Sotak S Spain C Spörlein T Stafford L Stefanutti S Täuber J Ullrich M Vianello E Wagenmakers M Witkowiak S Yoon B Nosek View on: Google Scholar

Academic Journal
Finance

“Market fragility and international market crashes”

We extend the Pukthuanthong and Roll (2009) measure of integration to provide an estimate of systemic risk within international equity markets. Our measure indicates an increasing likelihood of market crashes. The conditional probability of market crashes increases substantially following increases of our risk measure. High levels of our risk measure indicate the probability of a global crash is greater than the probability of local crash. That is, conditional on high levels of systemic risk, the probability of a severe crash across multiple markets is larger than the probability of a crash within a smaller number of markets.
Details

565-580 pages 2012 David Berger Kuntara Pukthuanthong View on: Google Scholar

Academic Journal
Finance

“Market Linkages Between the US and Japan: An Application to the Fisheries Industry”

Recent trends in globalization of Pacific Basin commodity markets raises important questions concerning the nature of market integration and price linkages. This paper examines this issue by testing for price linkages between the United States and Japan for two species whose exports from the U.S. to Japan have risen considerably over the past decade. Empirical results indicate segmentation of price linkages for sablefish but probable price linkages for some thornyhead markets. Findings suggest that markets for these species may be less sensitive to price changes in Japan than would be expected based on commodity flows.
Details

517-530 pages 1999 Japan and the World Economy Julie Ann Elston James Hastie Dale Squires