Recent Publications
Volume 7 Number 1 Spring 1996
Founding Editor
MANUCHEHR SHAHROKHI
California State University, Fresno
CONTENTS / CONTRIBUTORS
- Synthetic Barter: Simulating Countertrade Solutions with Swaps
- John F. Marshall and Kevin J. Wynne
- The Impact of Price Limits on Foreign Currency Futures' Price
Volatility and Market Efficiency
- Chao Chen and Jau-Lian Jeng
- Equity Market Return Volatility: Dynamics and Transmission Among
the G-7 Countries
- Lori L. Leachman and Bill Francis
- Capital Market Information Transfer and Integration: The Case of
Securities Dual-Traded in the U.S. and Canada
- LeRoy D. Brooks and Yiu Keung Ip
- The Convergence of Foreign Direct Investment and Restructuring
Evidence from Cross-Border Divestitures
- Aryeh Blumberg and James E. Owers
- Is the Stock Dividend Ex-Day Effect Due to Market
Microstructure?: Contrary Evidence from Korea
- Manjeet S. Dhatt, Yong H. Kim and Sandip Mukherji
- An Analysis of the Stock Market's Response to the Exxon Valdez
Disaster
- Anthony F. Herbst, John F. Marshall and John R. Wingender
- Resolving International Agency Costs in East/West Joint Ventures
- Armand Picou, William R. McDanill and Sidney Rosenberg
Volume 6 Number 2 Fall 1995
Founding Editor
MANUCHEHR SHAHROKHI
California State University, Fresno
CONTENTS / CONTRIBUTORS
- Macroeconomic Derivatives: More Viable Than First Thought!
- Vipul K. Bansal, John F. Marshall and Robert P. Yuyuenyongwatana
- Determining Appropriate International Transfer Prices: Economic
and Administration Rationales for Using Asset-Based Profit Splits
- Rebecca J. Klemm, Douglas W. Dwyer and Thomas L. Brewer
- Testing for the Relationship between Normal Exchange Rates and
Economic Fundamentals
- Shady Kholdy and Ahmasd Sohrobian
- International Loans and the Risk-Return Behavior of Commercial
Banks: Some Evidence from the Capital Market
- Jacky Y. So and Richard T. Nyerges
- A New Approach to the Problem of Harmonizing International
Accounting Reports
- Mohammad S. Bazaz, Ravi Parameswaran and Bijoy Bordoloi
- Shareholder Wealth Effect of Common Stock Offerings
- Majed R. Muhtaseb and George C. Philippatos
Volume 6 Number 1 Spring 1995
Founding Editor
MANUCHEHR SHAHROKHI
California State University, Fresno
CONTENTS / CONTRIBUTORS
- Currency Futures and the Turn-of-Month Effect
- Kartono Liano and G. Wayne Kelly
- Foreign Exchange Options Markets Inefficiency: The Abnormal
Profits Generated by an Implied Volatility Based Rule
- William C. Clyde and James Gislason
- Corporate Financial Structure under Inflation and Financial
Repression: A Comparative Study of North American and Emerging Markets Firm
- A. Sinan Cebenoyan, Klaus P. Fischer and George J. Papaioannou
- Formal Strategic Planning, Informedness and Firm Performance: An
Empirical Investigation
- Ginette McManus, Jacques Saint-Pierre, John Domonkos
- The Impact of Tax Changes on Trading of American Depository
Receipts
- Upinder S. Dhillon and Gabriel G. Ramirez
- Dividend Reinvestment Plans in Australia
- Keith K.W. Chan, Damien W. McColough and Michael T. Skully
Volume 5 Number 2 Fall 1994 (Index Issue)
Founding Editor
MANUCHEHR SHAHROKHI
California State University, Fresno
CONTENTS / CONTRIBUTORS
- Characteristics of Japanese Finance: A Review and Introduction
- Raj Aggarwal
- Determinants of Japanese CEO Compensation
- Rainford M. Knight, Jeff Madura and Anna D. Martin
- Banks in the Board Room: THE American versus Japanese and German Experiences
- W. Carl Kester
- A Comparison of the Financial Characteristics of U.S. and Japanese Manufacturing
Firms
- Ilhan Meric and Gulser Meric
- Wealth Effects from Equity Sales in Japan: Role of Bank Monitoring and Lender/Owner
Conflict Resolution
- Takashi Kaneko and Richard H. Pettway
- Financial Ratios in Japanese and U.S. Firms: A Comparison of Distributional
Characteristics
- Richard L. Constand
- P/E Multiples: Comparative Evidence for Japan and the United States
- Jack Glen and Richard Herring
- Linkages between the U.S. and Japanese Stock Markets: A Bilvariate Garch-M Analysis
- Panayiotis Theodossiou and Gregory Koutmos
Volume 5 Number 1 Summer 1994
Founding Editor
MANUCHEHR SHAHROKHI
California State University, Fresno
CONTENTS / CONTRIBUTORS
- On Selectivity and Market Timing Ability of U.S.-Based International Mutual Funds:
Using Refined Jensen's Measure
- Son-Nan Chen and Hoyoon Jang
- A Multicriterion Approach to Country Selection for Global Index Funds
- Nabil Khoury, Jean-Marc Martel and Pierre Yourougoro
- Investment Banker Prestige, Competition, and Underwriter Compensation in U.S.
Seasoned New Equity Issues
- Sung C. Bae and Haim Levy
- Futures-Forward Price Differentials in the T-Bill Markets: An Application of the
Arbitrage Pricing Theory
- Carolyn C. W. Chang, Jack S. K. Chang, and Jean C. H. Loo
- The Wealth Effect of International Acquisitions and the Impact of the EEC Integration
- James Wuh Lin, Jeff Madura and Armand Picou
- The Mexican Debt Moratorium and Its Effect Upon U.S. Bank Stock Values: Empirical
Tests on Major Event Windows
- George C. Philippatos and K. G. Viswanathan
- Atlantic and Pacific Stock Markets - Correlation and Volatility Transmission
- Hamid Rahman and Kenneth Yung
- Global Market Place and Causality
- A. M. Parhizgari, K. Dandapani and A. K. Bhattacharya
Volume 4 Number 2 Fall 1993 (Index Issue)
Founding Editor
MANUCHEHR SHAHROKHI
California State University, Fresno
CONTENTS / CONTRIBUTORS
- A Co-integration Test of The Impact of Foreign Exchange Rates on U.S. Stock Market
Returns
- Mitchell Ratner
- Market Impact of Announcements of Joint Ventures Between U.S. Firms and Eastern and
Central European Countries: Early Evidence
- Ahmad Etebari
- Pricing of The Eurodollar Bank Rate
- Syed M. Ahmad
- Stability and Predictability of the Comovement Structure of Returns in the American
Depository Receipts Market
- Mahmoud Wahab and Malek Lashgari
- Stock Market Liberalization and The Distribution Of Returns on the Jamaican Stock
Market
- Ronald S. Koot and Prasad Padmanabhan
Volume 4 Number 1 Spring 1993
Founding Editor
MANUCHEHR SHAHROKHI
California State University, Fresno
CONTENTS / CONTRIBUTORS
- Comovements of International Equity Returns: A Comparison of the
Pre- and Post-October 19, 1987, Periods
- Thomas H. McInish and Sie Ting Lau
- Pricing Cross-Currency Put Warrants: Some Empirical Evidence
- K.C. Chen, Barry Laiss and R. Stephen Sears
- U.S. Presidential Elections: International Security-Market
Effects
- John Dobson and Uric B. Dufrene
- The Linkages Between the Equity Markets of Pacific-Basin
Countries and Those of the U.S., U.K., And Japan: A Vector Autoregression Analysis
- Ali M. Fatemi and Jinwoo Park
- Official and Black (Parallel) Foreign Exchange Markets:
"Casual Relationships"
- Abbas Noorbakhsh and Manuchehr Shahrokhi
- Impact of the U.S. Money Supply Announcements on Foreign
Currencies: An Event Study Approach
- LeRoy D. Brooks and Chuck C.Y. Kwok
Volume 3 Number 2 Fall 1992 (Index Issue)
Founding Editor
MANUCHEHR SHAHROKHI
California State University, Fresno
CONTENTS / CONTRIBUTORS
- Optimal Hedging of Stock Portfolios Against Foreign Exchange Risk: Theory and
Application
- Warren Bailey, Edward Ng and Rene M. Stulz
- An Examination of the Distribution of Intra-Daily Exchange Rate Changes
- Chuck C.Y. Kwok and William R. Folks, Jr.
- Importance of Political Risk Assessment Function in U.S. Multinational Corporations
- M. Anaam Hashmi and Turgut Guvenli
- Benefits From Diversification and Currency Hedging of International Equity
Investments: Different Countries' Viewpoints
- Luc A. Soenen and John R. Lindvall
- Valuation Effects of International Listings
- Khalil M. Torabzadeh, William J. Bertin and Terry L. Zivney
- Cointegration, Error-Correction, and joint Efficiency in Forward and Futures Markets
for Major Foreign Currencies
- Banamber Mishra, Matiur Rahman and Steve Caples
Volume 3 Number 1 Spring 1992
Founding Editor
MANUCHEHR SHAHROKHI
California State University, Fresno
CONTENTS / CONTRIBUTORS
- A Multivariate Analysis of the Determinants of the Functional Currency Dichotomy
Decisions
- Ahmad Hosseini and Hossein Shalchi
- Portfolio Diversification and the Inter-Temporal Stability of International Stock
Indices
- Mitchell Ratner
- Evaluating Country Risk: A Decision Support Approach
- Jean-Claude Cosset, Yannis Siskos and Constantin Zopounidis
- The Choice of a Multicurrency Portfolio for a Central Bank: Bonds, Eurodeposits, and
Forward Contracts
- Philippe Jorion and Jaques Rolfo
- Intervention and the Foreign Exchange Risk Premium: An Empirical Investigation of
Daily Effects
- Owen F. Humpage and William P. Osterberg
Volume 2 Number 3/4 Fall/Winter 1991
Founding Editor
MANUCHEHR SHAHROKHI
California State University, Fresno
CONTENTS / CONTRIBUTORS
- Financial Globalization: Payments System Issues and Alternatives
- Herbert L. Baer and Douglas D. Evanoff
- The Profit-Analytic Classification Methodology Applied to the Management of Country
Risk in International Lending
- Kenneth R. Gordon and Michael Palmer
- Country Risk and Country Instability: The Case of Turkey
- Thomas L. Brewer
- Corporate Capital Structure and Taxes in the Korean Manufacturing Sector
- Demir Yener
- A Refinement of the Rational Expectations Monetary Model of Exchange Rate
Determination: Theory and Empirical Tests
- Barry Laiss
- Hedging Foreign Exchange Exposure in the Japanese Yen
- Anthony F. Herbst, Dilip D. Kare and S.C. Caples
- Global Mixed-Asset Diversification
- Richard J. Curcio and Alan J. Ziobrowski
- Portfolio Divestment: The Cost of Doing Business in South Africa
- Gerald P. Weinstein, Pervaiz Alam and Laurence E. Blose
Volume 2 Number 1/2 Spring/Summer 1991
Founding Editor
MANUCHEHR SHAHROKHI
California State University, Fresno
CONTENTS / CONTRIBUTORS
- Differential Market Reaction to Eurobond Financing
- Michael Ferri, Timothy F. Sugrue and Jot Yau
- Market Efficiency Tests Using Forward and Futures Exchange Contracts
- Janice L. Boucher and Mona R. El Shazly
- Comparison of Working Capital Management Practices in Australia and the United States
- Brian Belt and Keith V. Smith
- Portfolio Insurance for Foreign Exchange Risk Management
- Robert Brooks, Jeff Madura and Alan L. Tucker
- Week-of-the-Month Effect in Pacific Basin Stock Markets: Evidence of a New Seasonal
Anomaly
- Theodor Kohers and Raj H. Kohli
- Optimal Currency Forward Market Hedge Ratios: Hedging or Concealed Speculations?
- Anthony F. Herbst and Peggy E. Swanson
- A Pricing of Foreign Currency Investments
- Wai K. Leung and Hung-Gay Fung
- Efficacy of Hedging Internationally Diversified Equity Portfolios - An Empirical Test
- Jeannette N. Medewitz, Fuad A. Abdullah and Keith Olson
- Integration versus Segmentation in Real Asset Markets: Implications for Direct
Investment
- Jeff Madura and Ann Marie Whyte
- Government Bailout and Commercial Bank Loans to Less Developed Countries
- Samantha Bhadra Thapa and Dileep R. Mehta
Volume 1 Number 4 Fall 1990 (Index Issue)
Founding Editor
MANUCHEHR SHAHROKHI
California State University, Fresno
CONTENTS / CONTRIBUTORS
- An Analysis of the Effectiveness of the Nikkei 225 Futures Contracts in Risk-return
Management
- Joanne Hill, Jot Yau, and Thomas Schneeweis
- Market Reaction to Common Stock Offerings in U.S. Capital Markets: Multinational
Versus Domestic Firms
- George P. Tsetsekos
- Use of "Salient Economic Factors" in Determining Functional Currencies
Under FAS 52
- Robert B. Boatler
- An Intraweek Seasonality in the Implied Volatilities of T-Bond and T-Note Options
- Joel N. Morse
- The Wall and International Financial Markets
- Steve Swidler
Volume 1 Number 3 Summer 1990
Founding Editor
MANUCHEHR SHAHROKHI
California State University, Fresno
CONTENTS / CONTRIBUTORS
- An Empirical Investigation of Factors Affecting Cross-Border Acquisitions: The United
States Versus United Kingdom Experience
- Geraldo Vasconcellos, Jeff Madura, Richard Kish
- Determinants of Exchange Controls: An Integrated Aproach
- Ali Fatemi, M. Hossein Safizadeh
- Bank Services and Developing Countries: A Survey of Twenty-Six Developing Nations
- Charles Maxwell, Lawrence Gitman
- Stock Market in South Korea: Its Volatility, Dependency, and Growth
- S. J. Chang
Volume 1 Number 2 Spring 1990
Founding Editor
MANUCHEHR SHAHROKHI
California State University, Fresno
CONTENTS / CONTRIBUTORS
- The Numeraire Problem, Forward Hedges and International Portfolio Selection
- Chuck Kwok
- The Circular Flow of Dollars in the World Financial Markets
- Kashi Tiwari
- The Effect of Selected U.S. Market Conditions and Exchange Rate Variability on Merger
and Acquisition Activites of Foreign Companies in the United States
- Theodor Kohers and Spuma Rao
- Foreign Direct Investment: Evidence From Capital Market Data
- Ghassem Homaifar and Thomas H. Strickland
- The American Depository Receipt (ADR): A Creative Financial Tool for Multinational
Companies
- Krishnan Dandapani, Jerry Haar and Stanley P. Haar
Volume 1 Number 1 Fall 1989
Founding Editor
MANUCHEHR SHAHROKHI
California State University, Fresno
CONTENTS / CONTRIBUTORS
- Global Finance: Causes, Consequences and Prospects of the Future
- Terry Chuppe, Hugh Haworth, Marvin Watkins
- Economic Forces in the Stock Market: An International Perspective
- James Bodurtha, Jr., D. Chinhyung Cho, Lemma Senbet
- An Analysis of Unbundled Stock Units
- John Finnerty, Vistor Borun
- A Simple Rule for Multinational Capital Budgeting
- James Ang, Tsong-Yue Lai
- Hedging Long Term Commodity Swaps with Futures
- David Aspel, Jack Cogen, Michael Rabin
Volume 7 Number 2 Fall 1996
Founding Editor
MANUCHEHR SHAHROKHI
California State University, Fresno
Volume 7 Number 2 Fall/Winter 1996 (Index Issue)
International Real Interest Rate Parity with Error Correction Models
Jong-Cook Byun and Son-Nan Chen
Exchange Rate Regimes and International Market Segmentation:
Evidence from Pricing Effects of International Listings
Arvind Mahajan and Eugene P.H. Futado
Foreign Exchange Exposure and The Pricing of Exchange Rate Risk
Stephen P. Dukas, Ali M. Fatemi, and Amir Tavakkol
Stockholder Wealth Effects of Eurobond Financing:
A Canadian Perspective
George Athanassakos and Jacques A. Schabel
Foreign Direct Investment: The Factors Affecting the Location of
Foreign Branch Plants in The United States
Joseph Friedman, Daniel A. Gerlowski and Jonathan Silberman
Factors Affecting Cross-Border Mergers and Acquisitions:
The Canada-U.S. Experience
Geraldo M. Vasconcellos and Richard J. Kish
Measuring Fair Capital Adequacy Holdings for Banks:
The Case of Taiwan
Min-Teh Yu
Stock Returns and Volatility: An Empirical Investigation of The
German and French Equity Markets
Mbodja Mougoue and Ann Marie Whyte
Published in collaboration with Craig School of Business
California State University, Fresno, by
JAI PRESS INC.
Greenwich, Connecticut London, England
Volume 8 Number 1 Spring/ Summer 1997
GLOBAL FINANCE JOURNAL
Founding Editor
MANUCHEHR SHAHROKHI
California State University, Fresno
CONTENTS
Factors Affecting Returns Across Stock Markets
Jeff Madura, Alan L. Tucker and Marily Wiley
A Bayesian Approach to Foreign Exchange Forecasting
Mahnaz Mahdavi
The International Market for Corporate Control Evidence From
Acquisitions of Financial Firms
Rita Biswas and Donald R. Fraser
Impact of Country Risk on the International Portfolio Selection
Decision
Murli Rajan and Joseph Friedman
Do Cross-Border Acquisitions of U. S. Targets Differ From U. S.
Domestic Takeover Targets
Chao Chen and Robert Su
Estimation of Risk on the Brussels Stock Exchange: Methological
Issues and Empirical Results
Francisca Marie Beer
Periodic Market Closure and Order Imbalances
Yu-Jane Liu
Growth Effects Of Integration Among Unequal Countries
Michael Frenkel and Thomas Trauth
Performance, Capital Structure and Home Country: An Analysis of Asian
Corporations
V. Sivarama Krishnan and R. Charles Moyer
Capital Structure Norms Among Foreign Subsidiaries of U. S.
Multinational Enterprises
Lawrence Peter Shao
Cross Currency Option Pricing: A Note
Lloyd P. Blenman and O. Felix Ayadi
Published in collaboration with Craig School of Business California
State University, Fresno, by
JAI PRESS INC.
Greenwich, Connecticut London, England
Volume 8 Number 2 Fall/Winter 1997 (Index Issue)
GLOBAL FINANCE JOURNAL
Founding Editor
MANUCHEHR SHAHROKHI
California State University, Fresno
CONTENTS
Power Currency Options
Alan Tucker and Jason Z. Wei
The Existence of a Numeraire Currency in Foreign Exchange:
Evidence From Transaction Spot Rates For Japan, Germany, and the
United States
Anthony F. Herbst, Charles L. Smith and Patrick A. Traichal
Foreign Exchange Market Efficiency: Evidence From the Gulf War Period
Rita Biswas and Hany A. Shawky
An Application of Four Foreign Currency Forecasting Models
to the U.S. Dollar and Mexican Peso
Jamshid Mehran and Manuchehr Shahrokhi
Black Market and Official Exchange Rates, Cointegration
and Purchasing Power Parity in Developing Asian Countries
Cuddalore Sundar, Oscar Varela, and Atsuyuki Naka
International Convergence of Short-Term and Long-Term Interest Rates:
Theory and Empirical Tests
Hossein B. Kazemi, Dolly Warotamasikkhadit and V. Anantha
Nageswaran
Co-Movements of Major European Community Stock Markets:
A Vector Autoregression Analysis
Joseph Friedman and Yochanan Shachmurove
A Performance Evaluation of Global Equity Mutual Funds:
Evidence from 1988-95
Sandeep Singh and Ravi Shukla
The Role of Stock Dividends in Korea
Manjeet S. Dhatt, Yong H. Kim, and Sandip Mukherji
Political Instability and Country Risk
Pietra Rivoli and Thomas L. Brewer
Published in collaboration with Craig School of Business
California State University, Fresno, by
JAI PRESS INC.
Greenwich, Connecticut London, England
CONTENTS / CONTRIBUTORS
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