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Analysis into IPO underpricing and clustering in Hong Kong equity market
Qiao, Yongyuan - Volkswirtschaftliche Fakultät, … - 2008
This paper focuses on the time series properties of the level of underpricing of IPO shares and volume of initial selling in Hong Kong equity market. Strong autocorrelation among the level of underpricing has been identified. Evidence suggests that the initial selling volume plays an important...
Persistent link: https://www.econbiz.de/10005789232
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An empirical investigation of the arbitrage pricing theory in a frontier stock market: evidence from Bangladesh
FARUQUE, MUHAMMAD U - Volkswirtschaftliche Fakultät, … - 2011
Although the existing literature of Arbitrage Pricing Theory (APT) on different categories of stock markets is vast, it is non-existent in the case of frontier stock markets (defined as very small capital markets). This paper fills this gap by investigating how APT performs in a frontier stock...
Persistent link: https://www.econbiz.de/10011114102
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Strategies on initial public offering of company equity at stock exchanges in imperfect highly volatile global capital markets with induced nonlinearities
Ledenyov, Dimitri O.; Ledenyov, Viktor O. - Volkswirtschaftliche Fakultät, … - 2014
This research considers the strategies on the initial public offering of company equity at the stock exchanges in the imperfect highly volatile global capital markets with the nonlinearities. We provide the IPO definition and compare the initial listing requirements on the various markets. We...
Persistent link: https://www.econbiz.de/10011258000
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What can we learn from privately held firms about executive compensation?
Cole, Rebel; Mehran, Hamid - Volkswirtschaftliche Fakultät, … - 2010
-corporations; (vi) executive pay is inversely related to CEO ownership; (vii) executive pay is inversely related to financial risk; and … (viii) executive pay is related to a number of CEO characteristics, including age, education and gender: executive pay has a … quadratic relation with CEO age, a positive relation with educational, and is significantly lower for female executives. …
Persistent link: https://www.econbiz.de/10008614999
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EXECUTIVE PAY AND PERFORMANCE IN PORTUGUESE LISTED COMPANIES
Alves, Paulo; Couto, Eduardo; Francisco, Paulo - Volkswirtschaftliche Fakultät, … - 2014
This essay analyses the relationship between corporate governance practices and Chief Executive Officer (CEO) wages … from a sample of Portuguese listed companies over the period from 2002-2011. The relationship between CEO total … compensation and shareholders return, firm characteristics, CEO characteristics, board of directors and shareholders …
Persistent link: https://www.econbiz.de/10011113777
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Psychological and environmental determinants of myopic loss aversion
Hopfensitz, Astrid; Wranik, Tanja - Volkswirtschaftliche Fakultät, … - 2008
Each economic actor is characterized by his own evaluations, traits, and strategies. Although heterogeneity of economic actors is widely acknowledged, little is known about the factors causing it. In this paper, we will examine the behavioral bias known as myopic loss aversion, and the...
Persistent link: https://www.econbiz.de/10005789943
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The Influence of Affect on Beliefs, Preferences and Financial Decisions
Kuhnen, Camelia; Knutson, Brian - Volkswirtschaftliche Fakultät, … - 2008
Recent research in neuroeconomics suggests that the same brain areas that generate emotional states are also involved in the processing of information about risk, rewards and punishments. These findings imply that emotions may influence financial decisions in a predictable and parsimonious way....
Persistent link: https://www.econbiz.de/10005790468
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Previous outcomes and reference dependence: A meta study of repeated investment tasks with and without restricted feedback
Hopfensitz, Astrid - Volkswirtschaftliche Fakultät, … - 2009
When investment is repeated, previous outcomes (winning/losing) as well as the current budget level (gain/loss domain) influence decisions. The first is related to the so-called "gamblers fallacy". The second to value function relative to some reference point. Both effects have been extensively...
Persistent link: https://www.econbiz.de/10005039981
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How to adapt to changing markets: experience and personality in a repeated investment game
Hopfensitz, Astrid; Wranik, Tanja - Volkswirtschaftliche Fakultät, … - 2009
Investment behavior is traditionally investigated with the assumption that risky investment is on average advantageous. However, this may not always be the case. In this paper, we experimentally studied investment choices made by students and financial professionals under favorable and...
Persistent link: https://www.econbiz.de/10008531713
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The financial crisis and the credit rating agencies: the failure of reputation
Miele, Maria Grazia - Volkswirtschaftliche Fakultät, … - 2012
This paper presents a theoretical framework to describe the behaviour of the credit rating agencies(CRAs) during the crisis, surveying some reputational game models. CRAs have been blamed of inflating ratings of the new credit risk transfer products (CRTs) and of acting in favour of issuers...
Persistent link: https://www.econbiz.de/10011260075