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An Empirical Analysis of Market Reaction Around the Bonus Issues in India

Mishra, Asim - EconWPA - 2005

Past researches have revealed significant abnormal returns for bonus issues even though the bonus issue date is known in advance and the distribution contains no new information. This study examines the stock price reaction to the information content of bonus issues with a view of examining the...

Persistent link: https://www.econbiz.de/10005134827

An Empirical Analasis of Market reaction Around the Bonus Issues in India

Mishra, Asim - EconWPA - 2005

Persistent link: https://www.econbiz.de/10005413084

Exogenous shocks and real estate rental markets: An event study of the 9/11 attacks and their impact on the New York office market

Fuerst, Franz - EconWPA - 2005

Any attempt to measure the impact of the 9/11 attacks is faced with the difficulty of separating the effects of the attacks from the impact of a wider economic recession and other simultaneous events. This study attempts to isolate the effect on New York office rental and vacancy rates by...

Persistent link: https://www.econbiz.de/10005561660

MERGERS AND ACQUISITIONS IN THE PORTUGUESE BANKING INDUSTRY: IS IT THERE A PROCESS OF VALUE CREATION?

Silva, Jacinto Vidigal da; Diz, Miguel - EconWPA - 2005

This paper examines the valuation effects of mergers & acquisitions in the Portuguese banking industry from 1995 to 2003 over a 41-day (-20, +20) event window. Evidence shows some targets gains, but no gains for the bidders. The combined entity (target+bidder) shows no significant gains...

Persistent link: https://www.econbiz.de/10005561758

Why Individual Investors Want Dividends

Dong, Ming; Robinson, Chris; Veld, Chris - EconWPA - 2004

The question of why individual investors want dividends is investigated by submitting a questionnaire to a Dutch … investor panel. The respondents indicate that they want dividends partly because the cost of cashing in dividends is lower than … confirmed for cash dividends but is confirmed for stock dividends. Finally, our results indicate that individual investors do …

Persistent link: https://www.econbiz.de/10005076991

Tournaments in Mutual Fund Families

Kempf, Alexander; Ruenzi, Stefan - EconWPA - 2004

In this paper we examine intra-firm competition in the mutual fund industry. Our empirical study of the US mutual fund industry shows for the first time that managers within mutual fund families compete against each other. They adjust the risk they take depending on the relative position within...

Persistent link: https://www.econbiz.de/10005134712

Family Matters: The Performance Flow Relationship in the Mutual Fund Industry

Kempf, Alexander; Ruenzi, Stefan - EconWPA - 2004

The relationship between the performance of mutual funds and their subsequent growth is examined. The focus of our paper is on the influence of the position of a fund within its family. So far only the influence of the position of a fund within its segment on its subsequent inflows has been...

Persistent link: https://www.econbiz.de/10005134764

Mutual Fund Growth in Standard and Specialist Market Segments

Ruenzi, Stefan - EconWPA - 2004

We examine differences in the performance flow relationship (PFR) between different segments of the fund industry. Such differences can be caused by distinct mutual fund investors’ characteristics in different segments. In our empirical study of the US equity mutual fund industry in 1993-2001,...

Persistent link: https://www.econbiz.de/10005134788

The impact of downside risk on risk-adjusted performance of mutual funds in the Euronext markets

Plantinga, Auke; Sortino, Franks; Meer, Robert van der - EconWPA - 2004

Many performance measures, such as the classic Sharpe ratio have difficulty in evaluating the performance of mutual funds with skewed return distributions. Common causes for skewness are the use of options in the portfolio or superior market timing skills of the portfolio manager. In this...

Persistent link: https://www.econbiz.de/10005413128

Spillovers across High Yield Markets

Moschitz, Julius - EconWPA - 2004

This paper studies the time-variant interactions among US stocks, emerging market bonds and US low-grade corporate bonds. All of these assets are characterized by a similar average return, but returns are far from being perfectly correlated. Therefore, investing in these different assets...

Persistent link: https://www.econbiz.de/10005413232