Journal article
VALUATION OF THE PREFERRED STOCK SINKING FUND FEATURE: A TIME‐SERIES APPROACH
The Journal of financial research, v 11(1), pp 33-42
1988
Featured in Collection : UN Sustainable Development Goals @ Drexel
Abstract
This study employs a time‐varying coefficient model to examine the relationship between returns on preferred stock with a sinking fund and preferred stock without a sinking fund. The results provide evidence of a major shift in the relationship between the two types of preferred stock coincident to a major change in Federal Reserve Board monetary policy. Results also show several smaller shifts at other times. The findings lend only weak support to link the announcement of a change in bookkeeping practices for insurance companies with a contemporaneous change in the relationship between the two types of preferred issues, as previous studies contended.
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Details
- Title
- VALUATION OF THE PREFERRED STOCK SINKING FUND FEATURE: A TIME‐SERIES APPROACH
- Creators
- Michael J. Gombola - Drexel UniversityDouglas R. Kahl - Drexel UniversityKenneth P. Nunn - University of Connecticut
- Publication Details
- The Journal of financial research, v 11(1), pp 33-42
- Publisher
- Wiley
- Number of pages
- 10
- Resource Type
- Journal article
- Language
- English
- Academic Unit
- [Retired Faculty]
- Web of Science ID
- WOS:A1988N283200004
- Scopus ID
- 2-s2.0-84986518882
- Other Identifier
- 991019174893004721
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- Collaboration types
- Domestic collaboration
- Web of Science research areas
- Business, Finance