Purpose – The purpose of this paper is to investigate the impact of dividend initiations on shareholders’ wealth using a sample of 38 Greek listed firms. Design/methodology/approach – The event study methodology of Brown and Warner was employed to examine the share price reaction to...

Purpose – Most investors' retirement portfolios have inter-period cash inflows. The standard time-weighted mean return (or geometric mean return) is generally used to report returns on investors' retirement portfolios. The purpose of this paper is to examine the standard time-weighted mean...

Purpose – The purpose of this paper is to investigate the total factor productivity (TFP) change in the Greek cooperative banking industry over the period 2000-2005. Design/methodology/approach – The paper employs the Malmquist index and estimate two models, one based on the intermediation...

Purpose – The purpose of this paper is to examine the effect of the mandatory adoption of corporate governance mechanisms on serious firm issues (earnings manipulation, management effectiveness and firm's financing). Design/methodology/approach – Cross-sectional analysis is employed to...

Purpose – The purpose of this paper is to examine the relationship between beta and returns in the Athens stock exchange (ASE), taking into account the difference between positive and negative market excess returns' yields. Design/methodology/approach – The data were taken from DataStream...

Purpose – This paper seeks to investigate the accounting factors that affect the value of a firm. Design/methodology/approach – Cross-sectional analysis is employed to investigate the association between critical accounting ratios and stock returns. Findings – This study finds that the...

Purpose – The aim of this paper is to examine the productivity of the Greek banking sector for the time period 2004-2006. Design/methodology/approach – Standard ratio measures of bank financial performance have been used as output measures in a data envelopment analysis model in combination...

Purpose – The purpose of this study is twofold: to test the hypothesis that the closing prices of Titan S.A. stock can be approximated by a random walk; and to valuate the risk associated to this stock. The first question is equivalent to the efficient market hypothesis (EMH) and, therefore,...