Key points are not available for this paper at this time.
Blaine Huntsman is Professor of Finance and Dean of the Graduate School of Business at the University of Utah. James P. Hoban is Assistant Professor of Finance at Ball State University. The authors gratefully acknowledge the time and interest of the following, who made the data base available: Frank Chambers, President, Continental Capital Corporation; Steven Merrill, President, Bank of America Capital Corporation; and George Quist, Partner, Hambrecht & Quist. The paper also benefits from helpful comments of Eugene Fama, Donald E. Farrar, Ronald C. Lease, and Timothy Campbell.
Huntsman et al. (Tue,) studied this question.