Overview

This volume consists of original research articles examining timely issues in financial services, asset pricing, and hedging. The articles in the first part of the volume deal with methods for assessing the safety and soundness of banks, rationales for and economic consequences of bank mergers, valuation effects of lender environmental liability, option-theoretic explanations of the closed-end mutual fund discount, and contingent-claims analysis of price-matching refunds. Articles in the second part of the volume study consumption smoothing and the equity premium puzzle, the yield spread of tax-deductible preferred stock, fitting a jump-diffusion model of currency futures options, duration effects on hedge ratios of currency futures, and dynamics between foreign exchange and stock markets in Southeast Asian economies.

Full Product Details

Author:   Andrew H. Chen ,  Andrew H. Chen ,  Andrew H Chen ,  Andrew H Chen
Publisher:   Emerald Publishing Limited
Imprint:   JAI Press Inc.
Volume:   18
Dimensions:   Width: 15.60cm , Height: 1.50cm , Length: 23.40cm
Weight:   0.553kg
ISBN:  

9780762307173

ISBN 10:   076230717
Pages:   268
Publication Date:   22 June 2001
Audience:   Professional and scholarly ,  Professional & Vocational
Format:   Hardback
Publisher's Status:   Active
Availability:   In Print  
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Table of Contents

"List of contributors. Improved methods of treating critical issues in regulating and supervising bank safety and soundness (P.A.V.B. Swamy, T.J. Lutton and P.F. Bartholomew). Economic consequences of financial services industry consolidation (P.A.V.B. Swamy, T.J. Lutton). Secured debt and lender environmental liability (P.A. McGraw, G.S. Roberts). A contingent-claim analysis of the closed-end mutual fund discount puzzle (A.H. Chen, L.J. Merville and C. Won). The ""cost"" of offering price-matching refund policies: a contingent-claims perspective (S.C. Mazumdar, J. Srivastava). The effect of time complementary on consumption smoothing and the equity premium (C.M. Ahn, I. Joon Kim). A comparison of taxable and tax-deductible preferred yields (A. Murphy). Information inherent in implicit distributions (A. Doffou, J.E. Hillard). Hedging currency risk using futures (V. Bhargava, R. Brooks). Long-run and short-run dynamics between foreign exchange and stock markets: evidence from Thailand and The Philippines (M. Rahman, M. Rahman and M. Mustafa)."

Reviews

A. Chen ...Ten papers present recent research in finance. Papers discuss improved methods of treating critical issues in regulating and supervising bank safety and soundness. Journal of Economic Literature, Vol. 40, No.2

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