2008 EFM READERS' CHOICE BEST PAPER AWARD

EUROPEAN FINANCIAL MANAGEMENT, VOLUME 14, 2008

VOL 14:1 JANUARY 2008

Behavioral Finance: A Review and Synthesis
Avanidhar Subrahmanyam

Clustering in U.S. Stock Prices After Decimalization
DAVID IKENBERRY and JAMES WESTON

Wolf in sheep’s clothing: the active investment strategies behind index performance
ANGELO RANALDO and RAINER HABERLE

Overconfidence and investor size
Anders Ekholm and Daniel Pasternak

Adaptive Learning in an Expectational Difference Equation with Several Lags: Selecting among Learnable
MIKAEL BASK

New Paradigms in Stock Market Indexing
DEREK JUN and BURTON G. MALKIEL

Why Have Debt Ratios Increased for Firms in Emerging Markets?
TODD MITTON

On the Equivalence Between the APV and the WACC Approach in a Growing Leveraged Firm
Mario Massari, Francesco Roncaglio and Laura Zanetti

Timing and Wealth Effects of German Dual Class Stock Unifications
Ingolf Dittmann and Niels Ulbricht

VOL 14:2 MARCH 2008

Economic Sentiment and Yield Spreads in Europe
Eva Ferreira, Maria-Isabel Martinez serna, Eliseo Navarro and Gonzalo Rubio

Corporate Sell-offs in the UK: Use of Proceeds, Financial Distress, and Long-Run Impact on Shareholder Wealth
Edward Lee and Stephen Lin

Dispersed Trading and the Prevention of Market Failure: Blackout at the Copenhagen Stock Exchange
DAVID PORTER, CARSTEN TANGGAARD, DANIEL G. WEAVER and WEI YU

How Much Is Too Much: Are Merger Premiums Too High?
Antonios Antoniou, Philippe Arbour and Huainan Zhao

An Empirical Analysis of the Pricing of Bank Issued Options versus Options Exchange Options
JENKE TER HORST and CHRIS VELD

Regime Change and the Role of the International Markets on the Stock Returns of Small Open Economies
Don Bredin and Stuart Hyde

Capital Structure and Assets: Effects of an Implicit Collateral
Christian Riis Flor

VOL 14:3 JUNE 2008

Non-Monotonicity of the Tversky-Kahneman Probability-Weighting Function: A Cautionary Note
Jonathan Ingersoll

Testing Conditional Asset Pricing Models Using a Markov Chain Monte Carlo Approach
Manuel Ammann and Michael Verhofen

Have European Stocks Become More Volatile?
Colm Kearny and Valerio Poti

The Determinants of Foreign Currency Hedging: Does Foreign Currency Debt Induce a Bias?
Ephraim Clark and Amrit Judge

Minority Protection and Dividend Policy in Finland
SEPPO KINKKI

Predicting Agency Rating Migrations with Spread Implied Rating
Jiaming Koo and Simone Varotto

Asymmetric Volume-Return Relation and Concentrated Trading in the LIFFE Futures
TRIBHUVAN N. PURI and GEORGE C. PHILIPPATOS

What’s New in Finance?
Matti Keloharju

VOL 14:4 SEPTEMBER 2008

Trust in Financial Markets
Colin Mayer

Social Networks and Corporate Governance
AVANIDHAR Subrahmanyam

Debt, Equity, and Hybrid Decoupling: Governance and Systemic Risk Implications
Henry T. C. Hu and Bernard Black

The Impact of Corporate Governance on Executive Compensation
Stephen Sapp

The Evolution of Corporate Governance and Firm Performance in Emerging Markets: The Case of Sellier and Bellot
TOMAS JANDIK and CRAIG G. RENNIE

Corporate Restructuring and Bondholder Wealth
LUC RENNEBOOG and PETER G. SZILAGYI

Corporate Real Estate Sale and Leaseback Effect: Empirical Evidence from Europe
Tomi Grunlund, Antti Louko, and Mika Viahekoski

VOL 14:5 NOVEMBER 2008

Psychological Bias as a Driver of Financial Regulation
DAVID HIRSHLEIFER

The Long-Term Effect of the Sarbanes-Oxley Act on Cross-Listing Premia
Kate Litvak

Corporate Governance when Managers Set Their Own Pay
Pablo Ruiz-Verdu

Which Factors affect Bond Underwriter Fees? The Role of Banking Relationships
Marco Navone and Giuliano Iannotta

The First- and Second-Hand Effect of Stock Recommendations: New Evidence on the Price Pressure and Information Hypotheses
Philipp M. Schlumpf , Markus M. Schmid? and Heinz Zimmermann

Required Rates of Return for Corporate Investment Appraisal in the Presence of Growth Opportunities
Jo Danbolt, Ian R. C. Hirst and Edward A. E. Jones

The Lead-lag Relationship Between Cash and Stock Index Futures in a New Market
Manolis Kavussanos, Illias D. Visvikis and Panayotis Alexakis

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