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 the cost of selling shares. Their answers provide...

This study examines whether individual investors are the source of post- earnings announcement drift (PEAD). We provide evidence on how individual investors trade in response to extreme quarterly earnings surprises and on the relation between individual investors' trades and subsequent abnormal...

We document strong persistence in the performance of trades of individual investors. Investors classified in the top 10 percent place other trades that on average earn excess returns of 15 basis points per day. A rolling-forward strategy of going long firms purchased by previously successful...

The Venture capital (VC) industry in India is of recent origin. However, the average investment value of each deal in India have grown from $3.85 million in 2000 to $7.89 million in 2001.These developments together with the recent steps taken by government to promote venture capitalism in India...

The challenges of payment transactions in electronic commerce were initially underestimated, as is now clear in the light of technological progress and stricter legislation, meaning traditional business models are increasingly coming up against their limits. Only secure, user- friendly and...

In this paper we investigate the coherence between bank ratings and default probability in emerging market economies using scoring and mapping techniques. In order to achieve its disciplining role, the rating should be coherent with the default risk it summarizes and disseminate. This issue is...

Notre travail s’inscrit dans le courant consacré à la prévision de la défaillance bancaire. Il se propose de tester la validité de la typologie de type CAMEL dans le cadre de la modélisation de la prévision du défaut bancaire dans les pays émergents. Son originalité réside dans...

Notre travail s’inscrit dans le courant consacré à la prévision de la défaillance bancaire. Il se propose de tester la validité de la typologie de type CAMEL dans le cadre de la modélisation de la prévision du défaut bancaire dans les pays émergents. Son originalité réside dans...

Cet article étudie l’impact des facteurs institutionnels et réglementaires sur la défaillance des banques des pays émergents. Peu de travaux se sont intéressés à la défaillance bancaire dans ces pays. Or, la qualité des institutions telles que les commissions de régulation et de...

The purpose of this paper is to investigate the regulatory and institutional factors which may increase excessive risk taking in banks. Few studies deal with the impact of these external factors on bank’s risk taking and probability of default, despite the fact that empirical investigation is...