Search results for ""Author John F. Kensinger""

The theme of Research in Finance vol. 29 is "Dealing with Crisis and Regulation." The first chapter looks for solutions to the European financial crisis, and the second provides a study of audit qualifications for accounting firms in Spain using advanced empirical methods. The next chapters are more international in focus, with topics including: business strategies for competition in Mexico; anomalies in the real return on corporate equity compared to real assets; the stabilizing influence of commodity futures trading in oil and gold. The following chapters explore the unintended consequences and burdens of regulations, for example the Sarbanes-Oxley Act of 2002, and other more deeply underlying factors in the financial markets. The regulatory examination then shifts to the electric power grid, and some unintended consequences of the new regulations requiring retail utilities to buy all the power produced by wind and solar generators linked to their grid.

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The theme of this volume is 'Recovering from Financial Crisis'. The lead chapter sets the theme by giving insight into the recent surge in going-private transactions (and the corresponding reduction of Initial Public Offerings). The author develops evidence (reaching back 25 years) that going-private transactions tend to be inversely related with the return on diversified equity portfolios, suggesting that the recent upswing in going-private transactions in the United States is not simply the result of the Sarbanes - Oxley Act of 2002. The second chapter offers insights into the recent round of hedge fund failures. Then, the third chapter offers new insights into some of the more controversial aspects of private equity arrangements - when private equity arrangements are expressed as real options, the actions of the managing partners are more readily understandable. The fourth chapter offers insights into why commodity producers (such as oil companies) choose not to hedge, so that their stock can offer shareholders the opportunity to gain valuable diversification benefits using the stock as a pure play in the commodity. Remaining chapters offer further insights into recent trends in IPO activity, lease versus purchase decisions, agency costs, project risk, and emerging markets.

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The theme of this volume is "Dealing with Volatility and Enhancing Performance". The lead chapter sets the theme by giving insight into using the Chicago Board Option Exchange Volatility Index (CBOE VIX) futures in hedging strategies for equity market investors (and hedge funds). During a time when there is much concern about the perceived volatility of global equity markets, the insights offered here could be reassuring as well as useful. The second chapter offers insights into the efficiency (or lack thereof) of attempts for forecast global earnings. Then, the third chapter offers new insights into an issue that has been important for many decades, but which promises to become more topical in the years to come. That is the question of when and why the people who make the business work should also be the owners. Remaining chapters offer further insights into recent trends in "in-house" mergers/acquisitions activity, purchases and sales of real options, project risk, electricity derivatives, corporate governance in Europe, and emerging markets.

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