Purpose: The purpose of this paper is to provide a plausible explanation for the “sell in May” anomaly observed in US stock markets. A heretofore unexplained strategy of selling stock in May and not returning to the market until November has been shown to outperform a simple strategy of...

Purpose – The purpose of this paper is to develop an algorithm to harvest user specified information on finance portals and compile it into machine-readable datasets for quantitative analysis. Design/methodology/approach – The Visual Basic macro language in Microsoft Excel is applied to...

Purpose – The purpose of this paper is to develop an algorithm to harvest user specified information on finance portals and compile it into machine‐readable datasets for quantitative analysis. Design/methodology/approach – The Visual Basic macro language in Microsoft Excel is applied to...

Purpose - Many energy firms currently compensate their risk managers with bonuses based on their ability to outperform a budget benchmark. This creates the incentive for a manager to “let it ride” (LIR) when prices move adversely to the benchmark, thus exposing the firm to further adverse...

This paper demonstrates how mezzanine financing can be used to minimise the weighted average cost of capital for a second stage growth firm waiting to obtain equity capital from an IPO. A model is provided that allows entrepreneurs to fit their available mezzanine financing cost structure to a...

Purpose – Many energy firms currently compensate their risk managers with bonuses based on their ability to outperform a budget benchmark. This creates the incentive for a manager to “let it ride” (LIR) when prices move adversely to the benchmark, thus exposing the firm to further adverse...