WORKING PAPERS - 2005 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). 1971 1972 1973 1974 1975 1976 1977 1978 1979 1980 1981 1982 1983 1984 1985 1986 1987 1988 1989 1990 1991 1992 1993 1994 1995 1996 1997 1998 1999 2000 2001 2002 2003 2004 2005   01-05 The Persistence and Pricing of the Cash Component of Earnings Patricia M. Dechow, Scott A. Richardson and Richard D. Sloan [abstract]   02-05 Information (In) Efficiency in Prediction Markets Erik Snowberg, Justin Wolfers and Eric Zitzewitz [abstract] 03-05 Special Purpose Vehicles and Securitization Gary Gorton and Nicholas S. Souleles [abstract] 04-05 Facts and Fantasies about Commodity Futures Gary Gorton and K. Geert Rouwenhorst [abstract] 05-05 The Book-to-Price Effect in Stock Returns: Accounting for Leverage Stephen H. Penman, Scott A. Richardson and Irem Tuna [abstract] 06-05 A Consumption-Based Explanation of Expected Stock Returns Motohiro Yogo [abstract] 07-05 (Revision of paper 24-04) Analyst Reputation, Conflict of Interest, and Forecast Accuracy Lily Fang and Ayako Yasuda [abstract] 08-05 Passive Decisions and Potent Defaults James J. Choi, David Laibson, Brigitte C. Madrian and Andrew Metrick [abstract] 09-05 Saving for Retirement on the Path of Least Resistance James J. Choi, David Laibson, Brigitte C. Madrian and Andrew Metrick [abstract] 10-05 Large Blocks of Stock: Prevalence, Size and Measurement Jennifer Dlugosz, Rudiger Fahlenbrah, Paul Gompers, Andrew Metrick [abstract] 11-05 The Congruence of Shareholder and Bondholder Governance K. J. Martjin Cremers, Vinay B. Nair and Chenyang Wei [abstract] 12-05 The Role of Banks in Takeovers Victoria Ivashina, Vinay B. Nair, Anthony Saunders, Nadia Massoud and Roger Stover [abstract] 13-05 Corporate Governance and Internal Organization Vinay B. Nair [abstract] 14-05 Why Do Public Firms Issue Private and Public Securities? Armando Gomes and Gordon Phillips [abstract] 15-05 The Neoclassical Theory of Investment in Speculative Markets Stavros Panageas [abstract] 16-05 Dequity: The Blurring of Debt and Equity in Securitized Real Estate Financing Georgette Chapman Poindexter [abstract] 17-05 Bank Credit Cycles Gary B. Gorton and Ping He [abstract] 18-05 Eat or Be Eaten: A Theory of Mergers and Merger Waves Gary B. Gorton, Matthias Kahl and Richard Rosen [abstract] 19-05 Vote Trading and Information Aggregation Susan E. K. Christoffersen, Christopher C. Geczy, David K. Musto and Adam V. Reed [abstract] 20-05 Interpretable Asset Markets? Ravi Bansal, Varoujan Khatchatrian and Amir Yaron [abstract] 21-05 Price Informativeness and Investment Sensitivity to Stock Price Qi Chen, Itay Goldstein and Wei Jiang [abstract] 22-05 Human Capital and Earnings Distribution Dynamics Mark Huggett, Gustavo Ventura and Amir Yaron [abstract] 23-05 Debt Restructuring and Voting Rules Philip Bond and Hulya Eraslan [abstract] 24-05 Futures Prices in a Production Economy with Investment Constraints Leonid Kogan, Dimitry Livdan and Amir Yaron [abstract] 25-05 Persistence, Predictability and Portfolio Planning Michael J. Brennan and Yihong Xia [abstract] 26-05 An International Examination of Affine Term Structure Models and the Expectations Hypothesis Huarong Tang and Yihong Xia [abstract] 27-05 Are Stars' Opinions Worth More? The Relation between Analyst Reputation and Recommendation Values Lily H. Fang and Ayako Yasuda [abstract] 28-05 The Effects of Biased Self Perception in Teams Simon Gervais and Itay Goldstein [abstract] 29-05 Solving Models with External Habit Jessica A. Wachter [abstract] 30-05 Let us Trade Pension Claims Bernard Dumas and Juerg Syz [abstract] 31-05 Asymmetric Information and Financing with Convertibles Archishman Chakraborty and Bilge Yilmaz [abstract] 32-05 Stock Returns and Expected Business Conditions: Half a Century of Direct Evidence Sean D. Campbell and Francis X. Diebold [abstract] 33-05 The Pecking Order, Debt Capacity, and Information Mark T. Leary and Michael R. Roberts [abstract] 34-05 A Dynamic Model for the Forward Curve Choong Tze Chang, Dean Foster, Krishna Ramaswamy and Robert Stine [abstract] 35-05 A Portfolio of Consumer Credit David K. Musto and Nicholas Souleles [abstract] 36-05 Do Consumers Choose the Right Credit Contracts? Sumit Agarwal, Souphala Chomsisengphet, Chunlin Liu and Nicholas Souleles [abstract] 37-05 What Can Rational Investors Do About Excessive Volatility and Sentiment Fluctuations? Bernard Dumas, Alexander Kurshev, and Raman Uppal [abstract]
Rodney L. White Center for Financial Research Telephone: (215) 898-7616 Facsimile: (215) 573-8084 Email: rlwctr@finance.wharton.upenn.edu Copyright ©1998 The Wharton School of the University of Pennsylvania. All rights reserved. Site designed by Singularity Design.