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Analyst earnings forecast trends in Pacific Rim countries

Ciccone, Stephen J.; Etebari, Ahmad - In: Managerial Finance 30 (2004) 7, pp. 19-35

This study analyzes trends in analyst forecast properties from 1987 through 1998 in the United States and seven Pacific Rim countries: Australia, New Zealand, Taiwan, Hong Kong, Japan, South Korea, and Thailand. Analyst forecast properties in the United States have become less dispersed, more...

Persistent link: https://www.econbiz.de/10014939752

Subperiod robustness checks: testing for effect mean stationarity

Haggard, K. Stephen; Witte, H. Douglas - In: Managerial Finance 38 (2012) May, pp. 530-542

Purpose – The purpose of this paper is to suggest a superior method for assessing mean stationarity of asset pricing … effects. Design/methodology/approach – The authors suggest the use of an F-test to examine mean stationarity of asset pricing … paper sheds light on an analytical oversight in the asset pricing anomalies literature and suggests an appropriate test to …

Persistent link: https://www.econbiz.de/10010540359

Macroeconomic news and risk factor innovations

Gosnell, Thomas; Nejadmalayeri, Ali - In: Managerial Finance 36 (2010) July, pp. 566-582

Purpose – The purpose of this paper is to determine if macroeconomic announcements affect the Fama-French market, size, book-to-market risk factors and momentum factor. Design/methodology/approach – Using unexpected announcements of major macroeconomic indicators, a study is made of how...

Persistent link: https://www.econbiz.de/10009275369

Vulnerable American options

Klein, Peter - In: Managerial Finance 36 (2010) May, pp. 414-430

Purpose – Scholars have examined the importance of a firm's dividend policy through two competing paradigms: the signalling hypothesis and the free cash-flow hypothesis. It has been argued that our understanding of dividend policy is hindered by the lack of a model that integrates the two...

Persistent link: https://www.econbiz.de/10009275401

Market timing and the determinants of performance of sector funds over the business cycle

Kaushik, Abhay; Pennathur, Anita - In: Managerial Finance 36 (2010) July, pp. 583-602

Purpose – Market-timing skills of fund managers are an important issue for both mutual fund investors and researchers. The purpose of this paper is to analyze the market-timing skills and determinants of performance of sector funds across business cycles to see whether sector fund managers...

Persistent link: https://www.econbiz.de/10009275411

Earnings smoothing and the underpricing of seasoned equity offerings

Ngo, Anh Duc; Varela, Oscar - In: Managerial Finance 38 (2012) September, pp. 833-859

-stage least square estimation was used to address the possible endogeneity of pricing and earnings smoothing. Findings – Smooth …

Persistent link: https://www.econbiz.de/10010610995

Recent developments in exchange-traded fund literature: Pricing efficiency, tracking ability, and effects on underlying securities

Charupat, Narat; Miu, Peter - In: Managerial Finance 39 (2013) April, pp. 427-443

, the pricing efficiency, the tracking ability/performance, and the impact on underlying securities of exchange-traded funds …

Persistent link: https://www.econbiz.de/10010814850

Pricing the lease during the contract: an in-progress approach to lease evaluation

Carretta, Alessandro; Nicolini, Gianni - In: Managerial Finance 35 (2009), pp. 841-859

Purpose - Leasing evaluation is a subject that has drawn significant interest in economic circles for many years. The numerous models proposed in the literature have approached the topic from a variety of outlooks and approaches. The contributions made to date, however, all share what would...

Persistent link: https://www.econbiz.de/10010814892

Initial performance of Greek IPOs, underwriter's reputation and oversubscription

Kenourgios, Dimitris F.; Papathanasiou, Spyros; Melas, … - In: Managerial Finance 33 (2007), pp. 332-343

Purpose -This paper aims to provide additional international evidence on the initial public offerings (IPOs) by examining the initial performance and two main determinants of short-run underpricing of 169 IPOs listed on the Athens Stock Exchange (ASE) over the period 1997-2002....

Persistent link: https://www.econbiz.de/10010751907

Performance of initial public offerings and privatized offers: Evidence from a developing country

Peter, Suren - In: Managerial Finance 33 (2007), pp. 798-809

Purpose -The purpose of this paper is to investigate returns of initial public offerings (IPOs) in an emerging market and differences in the returns of privatized and non-privatized offerings. Design/methodology/approach -Market-adjusted return is computed as daily cumulative excess returns for...

Persistent link: https://www.econbiz.de/10010755929