WORKING PAPERS - 1998
Click on any title listed below to see the abstract. Click on the  icon beside the title in order to download the full paper in Adobe Acrobat. (If you do not have the Adobe Reader you can get a free copy from Adobe's World Wide Web Site at http://www.adobe.com/acrobat/readstep.html).
#01-98
Executive Compensation & the Boundary of the Firm: The Case of Short-Lived Projects
Gary Gorton and Bruce D. Grundy
[abstract]
#02-98
Customer-Controlled Firms: The Case of Stock-Exchanges
Carmine Di Noia
[abstract]
[PUBLISHED] #03-98
The Declining Credit Quality of US Corporate Debt: Myth or Reality?
Marshall E. Blume, Felix Lim and A. Craig MacKinlay
The Journal of Finance, Volume 53, No. 4, August 1998, pp. 1389-1413
[abstract]
[PUBLISHED] #04-98
Costs of Equity Capital and Model Mispricing
Lubos Pástor and Robert F. Stambaugh
The Journal of Finance, Volume 54, No. 1, February 1999, pp. 67-121.
[abstract]
[PUBLISHED] #05-98
An Analysis of Mutual Fund Design: The Case of Investing in Small-Cap Stocks
Donald B. Keim
The Journal of Financial Economics, Volume 51, No. 2, February 1999, pp. 173-194.
[abstract]
#06-98
Capital Market Equilibrium with Mispricing and Arbitrage Activity
Süleyman Basak and Benjamin Croitoru
[abstract]
#07-98
The Information Contained in Stock Exchange Seat Prices
Donald B. Keim and Ananth Madhavan
[abstract]
[PUBLISHED] #08-98
The Cost of Institutional Equity Trades
Donald B. Keim and Ananth Madhavan
The Financial Analysts Journal, Volume 54, No. 4, July/August 1998, pp. 50-69
[abstract]
[PUBLISHED] #09-98
Currency Prices, the Nominal Exchange Rate, and Security Prices in a Two-Country Dynamic Monetary Equilibrium
Süleyman Basak and Mike Gallmeyer
Mathematical Finance, Volume 9, No. 1, January 1999, pp. 1-30.
[abstract]
#10-98
On the Fluctuations in Consumption and Market Returns in the Presence of Labor and Human Capital: An Equilibrium Analysis
Süleyman Basak
[abstract]
#11-98
Management Turnover and Corporate Governance Changes Following the Revelation of Fraud
Anup Agrawal, Jeffrey J. Jaffe and Jonathan M. Karpoff
[abstract]
#12-98
Capital Market Equilibrium with Differential Taxation
Süleyman Basak and Mike Gallmeyer
[abstract]
#13-98
Understanding the Nature of the Risks and the Source of Rewards to Momentum Investing
Bruce D. Grundy and J. Spencer Martin
[abstract]
#14-98
Eighths, Sixteenths and Market Depth: Changes in Tick Size and Liquidity Provision on the NYSE
Michael A. Goldstein and Kenneth A. Kavajecz
[abstract]
#15-98
A Theory of Dividends Based on Tax Clienteles
Franklin Allen, Antonio Bernardo and Ivo Welch
[abstract]
#16-98
Are Transactions and Market Orders More Important than Limit Orders in the Quote Updating Process?
Ron Kaniel and Hong Liu
[abstract]
#17-98
Risk Arbitrage in Takeovers
Francesca Cornelli and David D. Li
[abstract]
#18-98
Revenue Efficiency and Change of Control: The Case of Bankruptcy
Francesca Cornelli and Leonardo Felli
[abstract]
#19-98
Asset Pricing Models: Implications for Expected Returns and Portfolio Selection
A. Craig MacKinlay and Lubos Pástor
[abstract]
#20-98
Optimal Consumption of a Divisible Durable Good
Domenico Cuoco and Hong Liu
[abstract]
#21-98
The Equity Premium and Structural Breaks
Lubos Pástor and Robert F. Stambaugh
[abstract]
#22-98
Ex-Ante Real Rates and Inflation Risk Premiums: A Consumption-Based Approach
Ayelet Balsam, Shmuel Kandel and Ori Levy
[abstract]
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