Investment in professionally managed, publicly traded commodity funds has grown rapidly
in recent years. This is the first comprehensive study of the performance of these funds. It is …

This paper uses event study methodology to investigate whether firms adopt Stern Stewart's
EVA system due to poor stock performance (ie, poor profitability) and whether adopting EVA …

IN A RECENT ARTICLE in this journal, Kalay [5] has written an extensive comment on our
1970 article [2] concerning" Marginal Stockholder Tax Rates and the Clientele Effect." While …

Publicly offered commodity funds are limited partnerships that buy and sell futures contracts.
There were over 130 such funds in existence in 1988. An examination of their performance …

Publicly traded commodity funds have been poor investment vehicles, yet new funds are a
fast-growing part of the investment scene. In this article we show that the information provided …

In this paper we use intra-day prices to examine the efficiency of the Treasury bill futures
market. The use of intra-day data allows us to carefully match in time trades in the futures and …

… 3 For each of these years the average return on each portfolio j was calculated and the
following … First the average excess return, 0?j, and average forecasted dividend yield, ~, for each …

THE IMPACT OF INFLATION on equilibrium returns in capital markets has been the subject
of several articles in recent years. Chen and Boness [1], Friend, Landskroner and Losq [4], …

The usefulness of economic value added (EVA) in forecasting stock performance has been
widely debated, and there is much disagreement. This paper examines empirically whether a …

The quantification of risk is an essential ingredient in portfolio analysis. For performance
evaluation and the fair pricing of securities, non-diversifiable risk, or beta, is perhaps the most …