Foreign acquisitions in the United States: Effect on shareholder wealth of foreign acquiring firms

N Cakici, C Hessel, K Tandon - Journal of Banking & Finance, 1996 - Elsevier
This paper examines shareholder wealth gains for 195 foreign firms that acquired US target
firms during 1983–1992. We find that foreign acquirers experience positive and significant …

Financial characteristics of neglected and institutionally held stocks

CA Hessel, M Norman - Journal of Accounting, Auditing & …, 1992 - journals.sagepub.com
Institutional investors are important both because of the magnitude of their holdings and
trading activity and because their decisions to buy or sell can signal a good takeover candidate …

Foreign acquisitions in the United States and the effect on shareholder wealth

N Cakici, C Hessel, K Tandon - Journal of International …, 1991 - Wiley Online Library
The research presented here indicates that foreign acquisitions in the United States in the
form of mergers, have resulted in abnormal returns to targets of nearly 22 percent, a figure not …

The effect of taxation on immunization rules and duration estimation

CA Hessel, L Huffman - The Journal of Finance, 1981 - Wiley Online Library
Investments in default‐free bonds can be insulated from financial loss due to interest rate
changes (via additive shock) by a process known as immunization. The literature on this …

[BOOK][B] Portfolios Weighted by Repurchase and Total Payout

JC Francis, C Hessel, J Wang, G Zhang - 2019 - researchgate.net
Amarket value—weighted investment portfolio composed of all common stocks can be used
as a proxy for the market portfolio. Based on the assumptions underlying the strong efficient …

Shorting leveraged ETF pairs

C Hessel, J Nam, J Wang, X Cunyu… - Journal of Trading …, 2018 - papers.ssrn.com
We study the strategy of shorting a pair of leveraged ETF and inverse leveraged ETF of the
same index. The profitability of this strategy does not depend on the direction of the …

Extensions to portfolio theory to reflect vast wealth differences among investors

CA Hessel - Journal of Financial and Quantitative Analysis, 1981 - cambridge.org
Much of modern portfolio theory rests on conclusions drawn from the original form of the
Capital Asset Pricing Model. Fundamental to the conclusions of this model is the assumption of …

Incorporation of tax considerations into the computation of duration

CA Hessel, LT Huffman - Journal of Financial Research, 1983 - Wiley Online Library
In this paper, the immunization process is extended to protect after‐tax income, and the
duration indices for after‐tax immunization are derived. Selection of the appropriate index …

Changes in volatility of credit spread and market efficiency during rapid growth of credit-related securities

C Hessel, J Wang - Quantitative Finance, 2010 - Taylor & Francis
This paper investigates the changes in credit spread volatility during 1993–2001. We find
that the credit spreads between junk-grade corporate bonds and Treasury bonds were …

[BOOK][B] THE EFFECTS OF TAXES AND IMPERFECT COMPETITION ON INVESTORS'OPTIMUM PORTFOLIOS

CA Hessel - 1979 - search.proquest.com
The composition of in v esto rs' po rtfo lio s and equilibrium prices of secu rities trad itio na lly
hare been explained by the C apital Asset Pricing Model. However, em pirical te s ts of the …