Now showing items 266-267 of 267

  • What’s in a vote? The short- and long-run impact of dual-class equity on IPO firm values 

    Smart, Scott B; Thirumalai, Rhamabhadran; Zutter, Chad J
    We find that relative to fundamentals, dual-class firms trade at lower prices than do singleclass firms both at the IPO date and for at least the subsequent five years. The lower prices attached to dual-class firms do not ...
  • Why are those options smiling? 

    Ederington, Louis H; Guan, Wei
    This paper tests whether the true smile in implied volatilities is flat. The smile in observed Black-Scholes implied volatilities has often been attributed to deficiencies in the B-S model, such as the assumption of constant ...