Contents -- Preface -- List of Contributors -- Chapter 1 Collateral Constraints, Debt Management, and Investment Incentives Elettra Agliardi and Rainer Andergassen -- 1. Introduction -- 2. The Model -- 2.1. Time 2 -- 2.2. Time 1 -- 2.3. Benchmark -- 3. Optimal Hedging -- 4. Conclusion -- Appendix -- References -- Chapter 2 A Concave Quadratic Programming Marketing Strategy Model with Product Life Cycles Paul Y. Kim, Chin W. Yang, Cindy Hsiao-Ping Peng and Ken Hung -- 1. Introduction -- 2. The Linear Programming Marketing Strategy Model -- 3. A Concave Quadratic Programming Model of the Marketing Strategy Problem -- 4. Critical Evaluations of the Marketing Strategy Models -- 5. Conclusions -- References -- Chapter 3 Evaluating the Robustness of Market Anomaly Evidence William D. Brown Jr., Erin A. Moore and Ray J. Pfeiffer Jr. -- 1. Introduction -- 2. Background -- 3. Description of the Research Design -- 3.1. The effects of passive deletion -- 3.2. The effects of extreme returns -- 3.3. The forecast-to-price anomaly -- 3.4. The accruals anomaly -- 4. Results -- 4.1. Investigating the effects of passive deletion -- 4.2. Investigating the effects of extreme returns -- 5. Summary and Conclusions -- Acknowledgments -- References -- Chapter 4 Why is the Value Relevance of Earnings Lower for High-Tech Firms? B. Brian Lee, Eric Press and B. Ben Choi -- 1. Introduction -- 2. Contemporaneous Association between Returns and Earnings -- 3. Background and Model Development -- 3.1. Expense mismatching (earnings' lack of timeliness) versus noise for high-technology firms -- 3.2. Model development -- 3.3. Noise from uncertain benefits -- 4. Empirical Results -- 4.1. Expense mismatching -- 4.2. Noise -- 5. Conclusions -- APPENDIX -- References.

Chapter 5 Thirty Years of Canadian Evidence on Stock Splits, Reverse Stock Splits, and Stock Dividends Vijay Jog and PengCheng Zhu -- 1. Introduction -- 2. Literature Review -- 3. Sample Description and Methodology -- 4. Empirical Results -- 4.1. Stock price trend -- 4.2. Stock return trend -- 4.3. Earnings per share trend -- 4.4. Systematic risk (beta) trend -- 4.5. Trading volume trend -- 4.6. Transaction number trend -- 4.7. Possible changes in shareholder composition -- 4.8. Post-split dividend behavior -- 4.9. Valuation impact -- 4.10. Post-split corporate governance environment -- 5. Summary and Conclusions -- References -- Chapter 6 IntradayVolume-VolatilityRelation of theDOW: A Behavioral Interpretation Ali F. Darrat, Shafiqur Rahman and Maosen Zhong -- 1. Introduction -- 2. A Behavioral Interpretation -- 3. Empirical Results -- 4. Concluding Remarks -- References -- Chapter 7 The Pricing of Initial Public Offerings: An Option Approach Sheen Liu, Chunchi Wu and Peter Huaiyu Chen -- 1. Introduction -- 2. The Model -- 3. Numerical Analysis -- 4. Conclusions -- References -- Chapter 8 Determinants of Winner-Loser Effects in National Stock Markets Ming-Shiun Pan -- 1. Introduction -- 2. Trading Strategies and Determinants of Profits -- 3. Empirical Results -- 3.1. Data -- 3.2. Profits to international trading strategies -- 3.3. Variance ratio analysis -- 4. Conclusions -- References -- Chapter 9 Earnings Management in Corporate Voting: Evidence from Antitakeover Charter Amendments Chun-Keung Hoi, Michael Lacina and Patricia L. Wollan -- 1. Introduction -- 2. Antitakeover Charter Amendments and Abnormal Accruals -- 3. Methodology and Sample Selection -- 3.1. Jones model discretionary accruals -- 3.2. Performance-matched discretionary accruals -- 3.3. Sample -- 4. Empirical Results -- 4.1. Firm performance.

4.2. Abnormal accruals surrounding year of shareholder vote -- 4.3. Abnormal accruals by amendment types -- 5. Additional Evidence -- 5.1. Changes in nonoperating items -- 5.2. Quarterly accruals results -- 6. Conclusions -- Acknowledgment -- References -- Chapter 10 Deterministic Portfolio Selection Models, Selection Bias, and an Unlikely Hero Herbert E. Phillips -- 1. Introduction -- 2. Background and Review of Previous Work -- 3. The Normative Portfolio Selection Models: A Brief Outline of Parametric Forms -- 3.1. The full covariance model -- 3.2. The single index model -- 3.3. The Elton, Gruber, and Padberg security-ranking approaches -- 3.3.1. The single index model analog, a left-out detail, and common misconceptions -- 3.3.2. The constant correlation model -- 4. On the Deleterious Effects of Estimation Error in Sample-Based Applications -- 4.1. Optimization model selection bias -- 4.2. Lessons from a previous study -- 4.2.1. How the models diversify -- 4.2.2. Systematic relationships between target rate of return and portfolio size -- 4.2.3. Diversification opportunities seen and not seen -- 4.3. Econometric logic -- 4.3.1. The full covariance model -- 4.3.2. The constant correlation model -- 4.3.3. Sharpe's single index model -- 5. Conclusion -- References -- Chapter 11 Corporate Capital Structure and Firm Value: A Panel Data Evidence from Australia's Dividend Imputation Tax System Abu Taher Mollik -- 1. Introduction -- 2. The Theoretical Framework and the Model -- 2.1. Theoretical framework -- 2.1.1. Bankruptcy cost -- 2.1.2. Agency cost -- 2.2. Australian imputation tax system and firm valuation -- 2.3. The value-leverage model -- 3. Empirical Models and Estimation Method -- 3.1. Data and the variables and measures -- 3.1.1. Financial leverage (FL) -- 3.1.2. Control variables -- 3.2. The Statistical Estimation -- 4. Regression Results.

5. Summary and Conclusions -- Acknowledgment -- References -- Chapter 12 The Momentum and Mean Reversion of Nikkei Index Futures: A Markov Chain Analysis Ke Peng and Shiyun Wang -- Index.