Advances in Financial Economics publishes peer reviewed quality manuscripts on any aspects of financial economics including corporate finance, financial institutions and markets and microeconomics.

This volume focuses on recent pricing puzzles in investments. The valuation of Internet companies, effects of firm size in takeover studies, and long-run performance of mergers in the telecommunications industry are all seen as riddles for the Efficient Markets Hypothesis. Explanations may be found in studies of the effects of differences in investor risk/return preferences, information and liquidity.

This volume contains fourteen research papers with theoretical and empirical treatment of important financial aspects of corporate governance. The papers cover major corporate governance issues such as the role of the board of directors, ownership structure, ownership concentration, and the influence of outside blockholders. Another salient feature of this collection is that it offers substantial international evidence, including that from the United States of America, Australia, Germany, Saudi Arabia, China, India, and Malaysia.

Papers in this volume focus on corporate governance broadly defined as the system of control that helps corporations effectively manage, administer, and direct economic resources. Questions of what and how to produce become equally important as organizations strive to better serve demanding customers. As a result, the design and control of effective organizations have become an integral part of financial economics. Traditionally, organization structure has been described by the vertical and horizontal relationships among the firm, its customers and suppliers. More recently, researchers have...

Questions of what and how to produce become equally important as organizations strive to better serve demanding customers. As a result, the design and control of effective organizations structure has been described by the vertical and horizontal relationships among the firm, its customers and suppliers. More recently, researchers have come to understand that the efficiency of firms depends upon the ability of participants to find effective means to minimize the transaction costs of coordinating productive activity. so long as transaction costs remain low and property rights can be freely...

Advances in Financial Economics, volume 18, will present research on corporate governance both in the US and globally. Papers will deal with the role played by boards of directors, internal organization design and governance mechanisms, franchise agreements, the effect of regulation and policy, the market for corporate control, and strategic alliances. The volume will aim at providing a deeper understanding of corporate governance practices, trends, innovations and challenges using international data.