Research in Finance

by John W. Kensinger (Editor), John F. Kensinger (Editor)

Overview

The theme of this volume is "Dealing with Volatility and Enhancing Performance". The lead chapter sets the theme by giving insight into using the Chicago Board Option Exchange Volatility Index (CBOE VIX) futures in hedging strategies for equity market investors (and hedge funds). During a time when there is much concern about the perceived volatility of global equity markets, the insights offered here could be reassuring as well as useful. The second chapter offers insights into the efficiency (or lack thereof) of attempts for forecast global earnings. Then, the third chapter offers new insights into an issue that has been important for many decades, but which promises to become more topical in the years to come. That is the question of when and why the people who make the business work should also be the owners. Remaining chapters offer further insights into recent trends in "in-house" mergers/acquisitions activity, purchases and sales of real options, project risk, electricity derivatives, corporate governance in Europe, and emerging markets.

Product Details

ISBN-13:	9781780527529
Publisher:	Emerald Group Publishing Limited
Publication date:	05/16/2012
Series:	Research in Finance , #28
Pages:	300
Product dimensions:	6.14(w) x 9.21(h) x 1.18(d)

Table of Contents

List of Contributors viii

Introduction ix

Chapter 1 An Empirical Exploration of the CBOE Volatility Index (VIX) Futures Market as a Hedge for Equity Market and Hedge Fund Investors Keith Black 1

Chapter 2 Global Earnings Forecasting Efficiency John B. Guerard Jr. 19

Chapter 3 The Impact of Employee Stock Ownership on Firms' Investments and Market Value Andrew H. Chen John W. Kensinger 49

Chapter 4 Abnormal Returns and In-House Mergers and Acquisitions Wallace N. Davidson III Shenghui Tong Pornsit Jiraporn 79

Chapter 5 Enhancing the Role of Real Options in Financial Decision Making: Buying and Selling Real Options Andrew H. Chen James A. Conover John W. Kensinger 101

Chapter 6 Financial Leverage, Project Equity, and Sensitivity of NPV Wm. Steven Smith

Chapter 7 Risk Management and Market Efficiency on the Midwest Independent System Operator Electricity Exchange Kevin Jones 125

Chapter 8 At The Origins of Female Directors' Networks: A Study of the French Case Emmanuel Zenou Isabelle Allemand Bénédicte Brullebaut 177

Chapter 9 Economic Motivation of the Ex-Dividend Day Anomaly: Evidence from an Emerging Market Environment Sarin Anantarak 193