Showing 1 - 10 of 55
This paper examines the impact of increased pre-close transparency on the effectiveness of stock closing call. On January 1, 2003, the Taiwan Stock Exchange increases pre-close transparency by disclosing the best five bid and ask prices and related unexecuted orders before market closing. At the...
Persistent link: https://www.econbiz.de/10010938513
This study reports how country risk and macroeconomic conditions influence the wealth gains of U.S. financial firms involved in international mergers and takeovers. The findings suggest that U.S. financials experience weakly significant wealth gains around announcement date. The wealth gains are...
Persistent link: https://www.econbiz.de/10010938517
We study the presence and distribution of private information in neglected firm stocks using a measure of private information first suggested by Roll (1988). Our results suggest that there is no shortage of information on neglected firms for investors and that this private information forms part...
Persistent link: https://www.econbiz.de/10010938524
This paper examines the price discovery and volatility spill-over relationship for Indian commodity markets. We cover twelve actively traded commodities including agriculture, metal and energy and four commodity indices. Price discovery is confirmed for eight commodities and three indices with a...
Persistent link: https://www.econbiz.de/10010938525
We survey 84 finance and accounting majors to determine the behavioral factors that males and females exhibit when making investment decisions. The survey results are linked to student performance in the Stock-Trak Global Portfolio Trading Simulation. We find that males and females exhibit...
Persistent link: https://www.econbiz.de/10010938534
Many studies have investigated how markets react to the change of conventional market index composition. Nevertheless, how investors in emerging markets react to changes to an Islamic Index composition still needs to be answered. This study empirically investigates market responses to...
Persistent link: https://www.econbiz.de/10010939186
This study advances the research on the convenience yield of bulk commodities with particular emphasis on thermal coal. We extend the option model of Milonas and Thomadakis (1997) to estimate thermal coal convenience yields using forward prices. We examine the business cycle of thermal coal in...
Persistent link: https://www.econbiz.de/10010940791
We analyze the announcement price behavior of independent director appointments stemming from monitoring, signaling, advising effects and moderating effects of controlling shareholders. Based upon appointments samples made by firms listed on the Taiwan Stock Exchange, we find that the cumulative...
Persistent link: https://www.econbiz.de/10010943325
Dividend policy has been a puzzle in corporate finance for many decades. So far, the dividend policy continues to be a puzzle in the strategic firm development process. This paper studied the effect of exdividend date for cash-dividend policy in the Taiwan Stock Exchange (TWSE) from 2001 to...
Persistent link: https://www.econbiz.de/10011011764
The study tests prominent equity market anomalies for six emerging markets - Brazil, China, India, Indonesia, South Korea and South Africa. We find that using the Fama French model (FFM) as performance benchmark the size anomaly is present in India, South Korea and Brazil, value anomaly in South...
Persistent link: https://www.econbiz.de/10010960338