ADVANCES IN QUANTITATIVE ANALYSIS OF
FINANCE AND ACCOUNTING Volume 4
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Cheng-Fe
ADVANCES IN QUANTITATIVE ANALYSIS OF
FINANCE AND ACCOUNTING
Advances in Quantitative Analysis of Finance and Accounting Editorial Board Cheng F. Lee Mike J. Alderson James S. Ang K. R. Balachandran Thomas C. Chiang Thomas W. Epps Thomas J. Frecka Robert R. Grauer Puneet Handa Der-An Hsu Prem C. Jain Jevons C. Lee Wayne Y. Lee Scott C. Linn Gerald J. Lobo Yaw Mensah Thomas H. Noe Oded Palmon Louis O. Scott Andrew J. Senchak David Smith K. C. John Wei William W.S.Wei Chunchi Wu Uzi Yaari
Rutgers University, USA University of St. Louis, USA Florida State University, USA New York University, USA Drexel University, USA University of Virginia, USA University of Notre Dame, USA Simon Fraser University, Canada University of Iowa, USA University of Wisconsin, Milwaukee, USA Georgetown University, USA Tulane University, USA Kent State University, USA University of Oklahoma, USA University of Houston, USA Rutgers University, USA Tulane University, USA Rutgers University, USA Morgan Stanley Dean Witter, USA University of Texas, Austin, USA Iowa State University, USA Hong Kong Technical University, Hong Kong Temple University, USA Syracuse University, USA Rutgers University, USA
ADVANCES IN QUANTITATIVE ANALYSIS OF
FINANCE AND ACCOUNTING
Editor
Cheng-Few Lee Rutgers University, USA
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ADVANCES IN QUANTITATIVE ANALYSIS OF FINANCE AND ACCOUNTING Advances in Quantitative Analysis of Finance and Accounting — Vol. 4 Copyright © 2006 by World Scientific Publishing Co. Pte. Ltd. All rights reserved. This book, or parts thereof, may not be reproduced in any form or by any means, electronic or mechanical, including photocopying, recording or any information storage and retrieval system now known or to be invented, without written permission from the Publisher.
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Preface to Volume 4
Advances in Quantitative Analysis of Finance and Accounting is an annua