Purpose – Leveraged and inverse ETFs (hereafter leveraged ETFs) have received much press coverage of late due to issues with their performance. Managers and the media have focused investors' attention on the impact of compounding, when the funds are held for more than one day. The aim of this...

Purpose – The purpose of this paper is to examine the effects of R&D manipulation on stock valuation for periods around IPOs. Insider manipulation is the difference in actual R&D change minus predicted R&D change where a negative difference indicates R&D underinvestment....

Purpose – The purpose of this paper is to examine the effects of R&D manipulation on stock valuation for periods around IPOs. Insider manipulation is the difference in actual R&D change minus predicted R&D change where a negative difference indicates R&D underinvestment....

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 paper is to examine intra-industry contagion and the following apparent violations of the efficient market hypothesis around large one-day price decline events in individual stocks. Design/methodology/approach – The paper examines daily stock returns around...

Purpose – The purpose of this paper is to evaluate firm financial success across a broad range of performance measures and identify areas of the performance spectrum for which positive results were most difficult to achieve. Simultaneously, the authors identify the firms that most frequently...

Purpose – The purpose of this paper is to compare companies in a developing country with those of a first-world country. For this purpose South African (SA) companies in the chemical, food and electronic industries are to be evaluated on the hand of cash flow ratios and compared with companies...

Purpose - The purpose of this paper is to provide an initial test of the validity of an intertemporal stewardship theory. This theory incorporates stewardship considerations, based on a foundation of spirituality, as well as financial considerations into financial decision-making models....

Purpose -The paper aims to investigate the long-run performance of privatised initial public offerings (IPOs) and their effects on the New Zealand share market (NZSE) and the Australian share market (ASX). Design/methodology/approach -The paper examines the relationship between privatisation and...

Purpose -The aim of this paper is to examine the long-term abnormal returns of firms that have experienced chief executive officer (CEO) succession. According to Chief Executive magazine, directors rank CEO succession as the second most important issue their firms face, the first being strategic...