NEW ADVANCES IN FINANCIAL ECONOMICSSERIES IN INTERNATIONAL BUSINESS & ECONOMICS Book

	Contributors
	Preface
	Introduction
1	Capital Structure and Dividend Policy in an Intertemporal Optimization Model	1
2	Ex-dividend Days and Daily Stock Returns	17
3	A Quadratic Growth Approach to the Two-stage Dividend Discount Model	23
4	The Nature of the Predictability of German Stock Returns	39
5	Complex and Random Appearing Stock Prices: A Chaotic Approach	59
6	A Strong Case for the Arrow-Pratt Risk Aversion Measure	87
7	The Role of Banks in Debt Restructuring	97
8	Stock Prices, Merger Activity and the Macroeconomy	111
9	The Impact of the Type of Offering on the Underpricing of IPOs	127
10	Assessment of Investment Quality of Securities: A Fuzzy Set Theory Approach	147
11	Equity Markets with Frictions: An Examination	159
12	Using Real Options Analysis in Capital Budgeting: The Opportunity Cost of Excess Capacity	179
13	Is the Real Interest Rate Stable?	199
14	Agency Costs and Employee Stock Ownership Plans	209
15	Innovations in Currency Markets: Rolling Spot Contracts	217
16	The Pricing of Forward and Futures Contracts with Heterogeneous Consumers	225
17	Exchange Rate Determination in the Forward Exchange and Foreign Currency Futures Markets	241
18	Evidence on Market Efficiency in the Term Structure of Currency Futures Prices	251
19	A Theory of International Takeover Bidding	263
20	Foreign Bank Credit to U.S. Corporations: The Implications of Offshore Loans	275
21	Sovereign and Corporate Borrowing and Sustainable Growth: Strategies Model for the Design of Payments	301
	Author index	327
	Subject index	333