GEORGE G. KAUFMAN

WORKING PAPER SERIES

• 93-1, Bank Contagion: Theory and Evidence, George G. Kaufman

• 93-2, The Intellectual History of the Federal Deposit Insurance Corporation Improvement Act, George J. Benston, George G. Kaufman

• 93-3, Analysis of Stop-Loss Reinsurance Treaties, Chandra Mishra, Jorge J. Urrutia

• 93-4, Empirical Results of Oil and World Equity Markets During the Persian Gulf Crisis Using Event Study and Causality Methodologies, A. G. Malliaris, Jorge L. Urrutia

• 93-5, The Equity Markets' Reaction to Global Shocks: A Comparison of the October 1987 Market Crash and the August 1990 Invasion of Kuwait, A. G. MalliarisJorge L. Urrutia

• 93-6, Managerial Entrenchment in Modern Firms: The Stakeholder Hypothesis, Larry J. Merville, Chandra S. Mishra

• 93-7, Large Institutions and Corporate Policy: The Collusion Hypothesis, Stan Eakins, Chandra Mishra

• 93-8, Deposit Insurance Subsidies, Moral Hazard, and Regulatory Incentives, Chandra Mishra, Jorge L. Urrutia

• 93-9, Tests of Random Walk and Market Efficiency for Emerging Latin American Equity Markets, Jorge L. Urrutia

• 93-10, Improving the FDIC Improvement Act: What Was Done and What Still Needs to be Done to Fix the Deposit Insurance Problem, George J. Benston, George G. Kaufman

• 93-11, A Comparison of the Performance of the Black-Scholes and Random Interest Rate Option Pricing Models, Hyun Mo Sung

• 93-12, The Effects of Overpayment and the Form of Financing on Bidder Returns in Mergers and Tender Offers, Hyun Mo Sung

• 93-13, The Effects of the Method of Payment on Target Returns in Mergers and Tender Offers, Hyun Mo Sung

• 93-14, A Hazard Rate Approach to the Timing of LDCs Debt Reschedulings,Suk Hun Lee

• 93-15, Multivariate Models for Analysis and Prediction of Insolvency in the Property-Liability Insurance Industry, Suk Hun Lee, Jorge L. Urrutia

• 93-16, The Reactions of Secondary Market Prices of Developing Country Syndicate Loans to the Brady Plan, Suk Hun Lee, Hyun Mo Sung

• 93-17, The Impact of the Gulf Crisis on the LDCs Economies, Suk Hun Lee, Hyun Mo Sung, Jorge L. Urrutia

• 93-18, CEO Motive, Opportunity and the Firm's Investment Decision, Don O. May

• 93-19, Portfolio Theory, G. M. Constantinides, A. G. Malliaris

• 93-20, The Current State of Banking Reform, George G. Kaufman

• 93-21, Exploring the Real Interest Rate Puzzle, Elijah Brewer III, George G. Kaufman

• 93-22, The Impact of Mergers on Bank Operating Performance, Paul A. Spindt, Vefa Tarhan

• 94-1, Managing Interest Rate Risk with Duration Gaps to Achieve Multiple Targets, Gerald O. Bierwag, George G. Kaufman

• 94-2, The Role of Economists in Public Policy, George G. Kaufman

• 94-3, FDICIA: The Early Evidence, George G. Kaufman

• 94-4, Nonlinear Dynamics in the Volatility of Asset Markets, A. G. Malliaris, Jerome L. Stein

• 94-5, Pecking Order of Financing in Mergers, Announcement Returns, Post-takeover Operating Gains, and Long-run Share-Price Performance, Paul A. Spindt, Vefa Tarhan, Hyun-Mo Sung

• 94-6, The U. S. Banking Debacle of the 1980s: An Overview and Lessons, George G. Kaufman

• 94-7, Early Evidence on Banking in Low- and Moderate-Income Minority Areas in Chicago: A Case Study,Nicholas A. Lash, Larry R. Mote

• 94-8, New Evidence on the Effects of Federal Regulations on Insider Trading: The Insider Trading and Securities Fraud Enforcement Act (ITSFEA),Jon A. Garfinkel

• 94-9, Value Maximization and the Information Content of Corporate Investment With Respect to Earnings, Tom Nohel, Bong-Soo Lee

• 94-10, The Causes and Consequences of Accounting-Based Performance Plans, Chandra Mishra, Don May

• 94-11, Linkages Between Agricultural Futures Contracts, A. G. Malliaris, Jorge L. Urrutia

• 94-12, Asymmetric Information, Dividend Announcements, and Contagion Effects in Bank Stock Returns, Tom Nohel, Wolfgang Bessler

• 94-13, Firm Value, Contracting and Organizational Structure: The Coordination Cost Hypothesis, Chandra Mishra, Larry Merville

• 94-14, Insider Trading and Executive Compensation, Jon A. Garfinkel, Joel F. Houston

• 94-15, European Stock Market Fluctuations: Short and Long Term Relationships, A. G. Malliaris, Jorge L. Urrutia

• 94-16, The Bayesian Random Coefficient Marlot Model in Event Studies, Suk Hun Lee, Hyun Mo Sung

• 94-17, Long Term Interest Rate Differentials, Liquidity Preference, and Exchange Rate Fundamentals, E. Pikoulakis, A. G. Malliaris, Y. Zhuang

• 95-1, Modeling the Exchange Rate: A Departure from Traditional Fundamentals that Explains the Data, E. Pikoulakis

• 95-2, The Impact of Stock-Price-Based Incentives on Shareholder Wealth, Daniel McConaughy, Chandra S. Mi shra

• 95-3, Market Structure and Trader Anonymity: An Analysis of Insider Trading, Jon A. Garfinkel, M. Nimalendran

• 95-4, Bank Failures, Systemic Risk, and Bank Regulation, George G. Kaufman

• 95-5, Desining an Efficient and Incentive Compatible Government Provided Deposit Insurance Program in Developing and Transitional Economies, George G. Kaufman

• 96-1, Lessons for Transitional and Developing Economies from Mature Deposit Insurance Systems, George G. Kaufman

• 96-2, Deposit Guarantee Schemes - The Italian, The European Community and the U.S. Regulation, Barbara Fradeani

• 96-3, Preventing Banking Crises in the Future: Lessons From Past Mistakes, George G. Kaufman

• 96-4, Theoretical Issues and Tests on Mean Reversion in Asset Prices: A Survey, Raffaella Cremonesi

• 96-5, Market Discipline and the Use of Insured Deposits in Banking, Matthew T. Billett, Jon A. Garfinkel, Edward S. O'Neal

• 96-6, Bank Fragility: Perception and Historical Evidence, George G. Kaufman

• 96-7, How Should Financial Institutions and Markets Be Structured: Analysis and Options for Financial System Design, George G .Kaufman, Randall S. Kroszner

• 97-1, FDICIA After Five Years: What has Worked and What Has Not, George G. Kaufman

• 97-2, Preventing Banking Crises: Taking the “State” Out Of State Banks, George G. Kaufman

• 97-3, FDICIA After Five Years, George G. Kaufman, George J. Benston

• 97-4, Modernizing Financial Services: Combining Banking and Commerce (testimony before the Subcommittee on Capital Markets, Securities and GSEs of the Committee on Banking and Financial Services, US House of Representatives, 3/12/97), George G . Kaufman

• 97-5, BA NKING REFORM:The Whys and How Tos, George G. Kaufman

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