Purpose: The current study proposes an integrative framework for examination of determinants of stock returns in US market based on the five-factor Fama and French (FF) model, macroeconomic variables and investor sentimental factors. The study is based on both value weighted and equally...

Prior studies have reported mixed Þndings regarding bidder shareholder returns. There are many theories regard-ing the motivation towards the initiation of a takeover. This study intends to analyze four major merger motivations separately and examine the impact each has on bidder re-turns. We...

This paper analyses the performance of all IPOs in the Malaysian stock market between 1995 to October 1997. The effects of underpricing are examined based on the two trading boards, the main and second board. This study extends the analysis by examining the IPOs performance by the size of...

Purpose – This paper attempts to investigate the presence of seasonal effects in the Indian stock market. Design/methodology/approach – The paper tests the efficiency of the Indian stock market through a number of hypotheses. Week day effects, day‐of‐the‐week, weekend, January and...

The global telecommunications marketplace has witnessed considerable and unprecedented changes in the past twenty‐five years, so much so, that comparative recognition of most telecommunications fixed‐link network operators is impossible. Consequently, industry structures, market specific...

Prior studies have reported mixed findings regarding bidder shareholder returns. There are many theories regarding the motivation towards the initiation of a takeover. This study intends to analyze four major merger motivations separately and examine the impact each has on bidder returns. We...

This paper attempts to examine a number of issues regarding the returns on the Hang Seng Index Futures traded in Hong Kong. The daily returns are separated into close‐to‐close, close‐to‐open, and open‐to‐close periods and the three returns examined for autocorrelation, GARCH and...