Purpose: The purpose of this paper is to examine the impact of managerial optimism on corporate investment regarding the financially constrained firms for the case of Greece. Taking as a fact that managers principally are optimistic and often overconfident an effort is made to highlight the...

We examine the proposition that the premium/discount (PD) of Greek closed-end funds (CEFs) is an accurate proxy for the small-investor sentiment risk. We find that the average PD explains the returns of portfolios of large capitalization and low book-to-market ratio stocks. In this context, we...

Purpose – The purpose of this paper is to perform an exploratory study of depositary receipts (DRs). In addition to the geographical analysis it tests several hypothesis linked to various DRs’ issues. Design/methodology/approach – Using the publicly available The Bank of New York’s (now...