WORKING PAPER SERIES FOR YEAR 1995
Why do Markets Move Together? An Investigation of U.S. - Japan Stock
Return Comovements using ADRS
(WP No. 95-1)

Another Look at the Role of the Industrial Structure of Markets for International Diversification Strategies
(WP No. 95-3)
John M. Griffin and G. Andrew
Karolyi
An Alternative Valuation Model for Contingent Claims
(WP No. 95-4)
Gurdip S. Bakshi and
Zhiwu Chen
Does Coordinated Institutional Activism Work? An Analysis of the Activities of the Council of Institutional Investors
(WP No. 95-5)
Tim C. Opler and Jonathan Sokobin
Property-Casualty Insurance Guaranty Funds and Insurer Vulnerability to Misfortune
(WP No. 95-6)
Soon-Ja Lee and Michael L. Smith
Fully Revealing Equlibria with Suboptimal Investment
(WP No. 95-7)
John C. Persons
Automated Executions are Different: An Empirical Examination of Changes
in Soes Rules
(WP No. 95-8)
Jeffrey H. Harris and Paul Schultz
Taxes, House Prices and Housing Consumption
(WP No. 95-9)
Dennis R. Capozza, Richard Green and
Patric H. Hendershott
Equilibrium Valuation of Foreign Exchange Claims
(WP No. 95-10)
Gurdip S. Bakshi and
Zhiwu Chen
The Determinants of the Maturity of Corporate Debt Issues
(WP No. 95-11)
Jose Guedes and
Tim Opler
Liquidation Versus Continuation: Did Reorganized Firms do the Right Thing?
(WP No. 95-12)
Michael J. Alderson and
Brian L. Betker