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Institutional industry herding: Intentional or spurious?

Gavriilidis, Konstantinos; Kallinterakis, Vasileios; … - In: Journal of International Financial Markets, … 26 (2013) C, pp. 192-214

This paper investigates the extent to which institutional herding at the industry level is motivated by intent. We assess intent using both market and sector states based on three variables (returns; volatility; volume), in order to gauge whether herding intent is more relevant to conditions...

Persistent link: https://www.econbiz.de/10010702747

Underwriter reputation and the underwriter–investor relationship in IPO markets

Neupane, Suman; Thapa, Chandra - In: Journal of International Financial Markets, … 24 (2013) C, pp. 105-126

Using data from the unique setting of Indian IPOs, this study examines the underwriter–investor relationship based on underwriter reputation. We find that high reputation and low reputation underwriters have strong relationships with different sets of investors. While large institutional...

Persistent link: https://www.econbiz.de/10010747592

Factor reversal in the euro zone stock returns: Evidence from the crisis period

Chou, Hsin-I; Zhao, Jing; Suardi, Sandy - In: Journal of International Financial Markets, … 33 (2014) C, pp. 28-55

The adoption of the euro led to a shift in importance from country to industry effects in euro zone stock returns. For the first time, this paper shows that country effects have regained importance in the recent spate of crises. This euro-wide factor reversal is driven by countries with poor...

Persistent link: https://www.econbiz.de/10011189469

Bank earnings forecasts, risk and the crisis

Anolli, Mario; Beccalli, Elena; Molyneux, Philip - In: Journal of International Financial Markets, … 29 (2014) C, pp. 309-335

This paper explores the ability of financial analysts to gauge the risk taken by banks and investigates the impact of … forecasting abilities are negatively influenced by bank-specific risks, except market risk. We also find that forecasting … crisis all risk indicators significantly reduce forecasting abilities of both types of analysts (optimistic and pessimistic …

Persistent link: https://www.econbiz.de/10010743655