In this paper we examine the proposition that small investor sentiment, measured by the change in the discount/premium on closed-end funds, is an important factor in stock returns. We [...]
EUROPEAN FINANCIAL MANAGEMENT, 10, 2, June 2004, 235-266 (N.Milonas, co-author)
Previous work on the exposure of firms to exchange rate risk has primarily focused on U.S. firms and, surprisingly, found stock returns were not significantly affected by exchange-rate fluctuations [...]
FINANCIAL MARKETS INSTITUTIONS AND INSTRUMENTS, 12, 5, 2003, 291-346 (Patricia Hall and Larry Lang, co-authors)
Several empirical studies show that investment strategies that favor the purchase of stocks with low prices relative to conventional measures of value yield higher returns. Some of these [...]
JOURNAL OF FINANCE, LVII, No. 5, October 2002, 2143-2165 (C.Kim and C. Pantzalis, co-authors)
This paper examines the agency conflicts between shareholders and bondholders of multinational and non-multinational firms and provides an explanation for the puzzle that multinational firms use less long-term debt, but [...]
JOURNAL OF CORPORATE FINANCE, 9, 2003, 59-92 (C.Pantzalis, co-author)
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EUROPEAN FINANCIAL MANAGEMENT, 8, No. 3, 2002, 281-314 (M. Holmen and N. Travlos, co-authors)
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JOURNAL OF INTERNATIONAL FINANCIAL MANAGEMENT AND ACCOUNTING, 13,3 2002,183-213 (Prasad Padmanabhan, co-author)
For the first time since 1990 the yield on 10-year U.S. Treasury bonds fell below the 1-year Treasury notes. In the parlance of bond traders and financial economists the yield curve (inverted) obtained an inverted shape. The shape of the yield curve [...]
EUROPEAN INVESTOR DIRECT, April 18, 2000