U.S. Leasing Industry – IT Hardware
Tying the Knot: IT Systems in a Merger
Two senior J. P. Morgan Chase executives explain how a worldwide team set the stage for transforming the merged firm’s IT organization.
Content: Case Study | Authors: Bradford Brown, Vikram Malhotra | Source: McKinsey Quarterly | Subject: IT / Technology / E-Business | Industry: Finance / Banking | Company: J. P. Morgan Chase
Debit Card Users Wary of Debt
Credit Cards Come to China
Impact of ATMs on Bank Teller Employment
Financial Scandals
This site offers an interesting view on the shadier side of finance by listing links to information sources covering various types of financial scandals. Topics include:
– Classic Financial and Corporate Scandals
– Scandals involving Central Banks
– Political Corruption
– Organized Crime: the Mafia etc.
– Money Laundering
– Bankers Behaving Badly
– Official Regulatory and Anti-Fraud … [ Read more ]
Content: Online Resource | Author: Roy Davies | Subjects: Finance, History | Industry: Finance / Banking
The Capital Asset Pricing Model: Theory and Evidence
I love summary articles. They help make sense of the world and let us see the forest through the trees. Some of my favorites include the Harris and Raviv summary article on capital structure, Fama’s paper that responds to Behavioral Finance Theories, and Cliff Smith’s introduction to his book of readings in Corporate Finance. And now I have a favorite on the … [ Read more ]
Content: Article | Authors: Eugene F. Fama, Kenneth R. French | Subject: Finance | Industry: Finance / Banking
The Information Content of Share Repurchase Programs
Contrary to the implications of many payout theories, we find that announcements of openmarket share repurchase programs are not followed by an increase in operating performance. However, we find that repurchasing firms experience a significant reduction in systematic risk and cost of capital relative to non-repurchasing firms. Further, consistent with the free cash-flow hypothesis, we find that the market reaction to share repurchase announcements is … [ Read more ]
Content: Article | Authors: Gustavo Grullon, Roni Michaely | Subject: Finance | Industry: Finance / Banking
Luxury Goods and the Equity Premium
What a great article The equity risk premium has puzzled researchers for years. In a nutshell it is the finding that the equity risk premium demanded by investors is too large to be explained by changes in stock returns or changes in consumption unless very high levels of risk aversion were assumed. (See Grossman-Schiller, 1981, Mehra-Prescott 1985). In a forthcoming JF article, … [ Read more ]
Content: Article | Authors: Jonathan A. Parket, Motohiro Yogo, Yacine Ait-Sahalia | Subjects: Finance, Industry Specific | Industry: Finance / Banking
Eastern Europe Banking Market
Online Payment Market Pushes On
What Drives Companies to Repurchase Their Stock?
In the late 1990s, the use of employee stock options increased dramatically, as did the use of stock repurchases. Both affect a company’s earnings per share. New research goes beyond the anecdotes to determine whether financial reporting incentives affect corporate managers’ decisions to repurchase their company’s stock.
Content: Article | Authors: Daniel A. Bens, Douglas J. Skinner, M.H. Franco Wong | Source: Capital Ideas | Subjects: Accounting, Finance | Industry: Finance / Banking
401(k) Report Card
Deflecting Check Fraud
Despite increased security and new technologies that combat bad checks, companies are getting hammered with losses.
Content: Article | Author: Samuel Greengard | Source: Business Finance Magazine | Subject: Finance | Industry: Finance / Banking
Basel’s New Balance
A new accord may soon help banks lend more for less.
Content: Article | Author: Randy Myers | Source: CFO Publishing | Subjects: Finance, Industry Specific | Industry: Finance / Banking
How Foreign Firms Can Attract U.S. Investors: Overcoming ‘Home Bias’
Wharton accounting professor Brian Bushee remembers talking to the CFO of a large Australian consumer products company that was having trouble attracting interest from U.S. analysts and institutional investors. Part of the problem, the CFO had decided, was that his company chose to comply with Australian accounting methods rather than with U.S. GAAP (Generally Accepted Accounting Principles). His experience led Bushee and two colleagues to … [ Read more ]
Content: Article | Author: Brian Bushee | Source: Knowledge@Wharton | Subjects: Finance, International | Industry: Finance / Banking
Much Ado About Dividends
Rewriting the Letter of Credit
Online commerce cries out for a new take on an old economy tool. Letters of credit are being transformed into digital documents stored on Web sites, and new electronic alternatives are preserving the benefits of L/Cs in a form that is simpler and paperless.
Content: Article | Author: Richard H. Gamble | Source: Business Finance Magazine | Subjects: Finance, Industry Specific | Industry: Finance / Banking
Does Decimalization Harm or Help Institutional Investors?
“Decimalization” – the pricing of stocks in dollars and cents instead of fractions – lauded by proponents to be a good thing for investors when it was adopted by the U.S. stock markets in early 2001, is under fire. Critics say it costs institutional investors big. But in a study co-authored by Venkatesh Panchapagesan, assistant professor of finance at Olin, direct institutional trading costs appear … [ Read more ]
Content: Article | Author: Venkatesh Panchapagesan | Source: Discovery@Olin | Subject: Finance | Industry: Finance / Banking