We investigate the effect of board composition on overall corporate performance while controlling
for managerial ownership and other key variables. We recognize that both managerial …

… Indeed, Kidwell, Marr, and Thompson 16 find issuing costs to be significantly different for
industrial and utility bond issues. Such an industry influence could also be present in the equity …

Many observers of gambling markets are familiar with pamphlets and books-backed by
considerable statistical" evidence"-that for a small price provide the reader with one or more" …

We investigate the underlying causes and the announcement effects of plant closings. The
closing in our sample do not appear related to takeover activity. Instead, they appear …

Critics argue that shelf registration greatly reduces the ability of underwriters to perform
adequate due diligence. This argument suggests underwriters will demand greater …

Controversy surrounds the Securities and Exchange Commission's (SEC) Rule 415 that went
into effect in March 1982 and remained an experiment until it was permanenty adopted for …

This paper examines the relationship between split ratings and bond reoffering yields.
Using a sample of industrial bonds, we find that primary issue bonds that receive different (split) …

… This paper was written while Marr was an economist at the Securities and Exchange
Commission, Washington, DC The Securities and Exchange Commission, as a matter of policy, …

corporate value rather than attempting to maximize shareholder value even where that does
not yield maximum total value. Pertinent court decisions are then presented as evidence …

Using a sample of 96 US companies taken over by foreign companies during the period
1975-87, we assess foreign takeovers in two stages: pre-takeover and takeover. We find …