Recently added articles from Journal of Economics and Finance:
HOW USEFUL ARE SIGNALS? A MICRO-STRUCTURE ANALYSIS
Oct 01, 2007; O'Neill, Michele; Swisher, Judith ... Abstract We 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 in the degree of informed trading, we find asymmetric information costs fall at announcement, remain low ...
ENHANCING MANAGERIAL INCENTIVES AND VALUE CREATION: EVIDENCE FROM CORPORATE SPINOFFS
Oct 01, 2007; Pyo, Unyong ... Abstract We study corporate spinoffs with changes in CEO compensation to examine how spinoffs affect managerial incentive compensation and whether the changes in managerial compensation can explain the value enhancement and operating performance improvements that occur following ...
WHY DO COMPANIES CHOOSE TO GO IPOS? NEW RESULTS USING DATA FROM TAIWAN
Oct 01, 2007; Shen, Yang-Pin; Wei, Peihwang ... Abstract We examine the determinants of IPOs in Taiwan for the period 1989 to 2000. The regulations in Taiwan permit us to identify firms that met IPO requirements but chose not to go public, allowing for comparisons of firms that choose IPOs and those do not. We find strong evidence ...
OWNERSHIP STRUCTURE AND GOLDEN PARACHUTES: EVIDENCE OF CREDIBLE COMMITMENT OR INCENTIVE ALIGNMENT?
Oct 01, 2007; Small, Kenneth; Smith, Jeff; Yildirim, H Semih ... Abstract Using a sample of S & P 500 firms, we find that golden parachutes are associated with concentrated external ownership, less concentrated internal ownership, and non-Delaware incorporation. We find little support that concentrated external owners use golden parachutes as ...
RECENT PERSPECTIVES IN THE ECONOMICS OF THE ARTS
Oct 01, 2007; Toma, Michael ... This special section of the Journal of Economics and Finance focuses on current research in the economics of the arts and culture. Humankind has been engaged in the production of art and cultural artifacts for thousands of years, as a short visit to any museum of natural history will readily ...
THE ECONOMICS OF A GOOD PARTY: SOCIAL MECHANICS AND THE LEGITIMIZATION OF ART/CULTURE
Oct 01, 2007; Currid, Elizabeth ... Abstract Putting value on cultural goods is a messy business. Cultural value is not just an economic act but instead part of an intense social process of valorization and legitimization. Art/culture is socially consumed and socially aware. Economic value is determined by intangible (and ...
PREFERRED WORK PATTERNS OF CREATIVE ARTISTS
Oct 01, 2007; Throsby, David ... Abstract Recent research has highlighted ways in which the labour market behaviour of artists differs from the predictions of conventional theory. This paper considers one particular aspect of artists' labour supply, i.e. the extent to which preferred time allocations to creative work ...
DOES GIVING MAKE US PROSPEROUS?
Oct 01, 2007; Brooks, Arthur C ... Abstract Nonprofit economists have always assumed that income is a precursor to giving. In contrast, many philosophical and religious teachings have asserted that it is giving that leads to prosperity. This article seeks to test the non-economic hypothesis, using data from the 2000 ...
RECENT EVIDENCE ON THE DETERMINANTS OF CONCERT ATTENDANCE FOR MID-SIZE SYMPHONIES
Oct 01, 2007; Toma, Michael; Meads, Holly ... Abstract This study provides some recent evidence regarding the determinants of aggregate annual attendance at the concert performances of mid-size symphonies. In data from the 2003, 2004, and 2005 seasons from fifty-two mid-size symphonies, attendance is found to be positively affected ...