Purpose – The purpose of this is paper is to pay a closer look at the 2008-2009 financial crisis (and its aftermath) and analyzes stock returns of nine major US oil companies as well as the oil and gas sector under daily data from January 1992 to April 2012. Design/methodology/approach – The...

Purpose – Over the years a number of tactical, dynamic and strategic approaches for asset allocation have been developed to improve the objectivity of portfolio management. One of the most popular approaches is to annually rebalance a portfolio of six to ten assets classes back to an equal or...

Purpose The purpose of this paper is to examine how Moroccan institutional investors view dividend policy. It discusses the importance these investors attach to the dividend policy of their investee firms, how much influence they exercise in shaping investee firms’ dividend policies, their...

Purpose – The purpose of this paper is to examine positive-feedback (PF) behavior and its relationship to momentum profitability and information uncertainty. Design/methodology/approach – Using the behavioral function of rational traders and feedback traders, the authors jointly estimate the...

Purpose – Tiger Woods suffered minor injuries and major scrutiny into his personal life due to a suspicious car crash. Previous research suggests that his sponsors would be expected to suffer a significant negative shock. The purpose of this paper is to determine if there was such a shock and...

Purpose – The purpose of this paper is to examine market concentration, economies of scale, economies of scope, and the relative size of a particular fund, within a fund family, as determinants of mutual-fund expense ratio. This examination is focused at the asset-manager level and is based on...

Purpose – The purpose of this paper is to investigate the influence of capital structure changes by target firms on the outcome and ex post performance of firms targeted by proxy contests. Design/methodology/approach – The influence is examined by using predictions of control-driven model...

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 purpose of this paper is to investigate the asymptotic distribution of the extreme daily stock returns in African stock markets over the period 1996-2007 and examine the implications for downside risk measurement. Design/methodology/approach – Extreme value theory methods are...