This research indicates an average valuation premium of 27.3% in a sample of 43 companies domiciled in Hungary, the Czech Republic, Poland and Russia relative to 123 companies from the region that choose not to cross-list. After controlling for a host of country-specific micro- and...

Using UK stock market data this study unveils positive abnormal returns on and around the ex-split date. These excess returns are partially predictable using the publicly available information prior to the ex-split date. There is also a persistent increase in the post-split volatility of these...

The current study investigates the interface between the banking and insurance sector. The empirical findings are based on well-known financial intermediaries taken from an international sample. The analysis employs an event study methodology to evaluate the equity performance of these...

The current study examines the effects on shareholders wealth as a result of the bank-insurance interface. Using a global sample of financial intermediaries and an event-study framework the findings reveal significant abnormal returns surrounding the announcement of bank-insurance ventures. A...

We show that multifactor performance estimates for mutual funds suffer from systematic biases, and argue that these biases are a result of miscalculating the factor premiums. Because the factor proxies are based on hypothetical stock portfolios and do not incorporate transaction costs, trade...

This paper investigates whether there are systematic differences between the forecasting style and abilities of female and male analysts, and whether market participants recognize these differences. My key conjecture is that only female analysts with superior forecasting abilities enter the...

In this paper we examine the market reaction - price and volume - to the appearance of a firm in the Who's News column of the Wall Street Journal. We differentiate between those firms whose articles are accompanied by a picture of an executive and a control set of firms whose articles on the...

We revisit and extend the topic of secondary share sales and revisions in IPOs. First we test to determine if secondary share sales constitute a negative signal that is captured in aftermarket performance. We find secondary share sales in general are not correlated with poorer initial or...

In this paper we analyse whether the Indian Stock Index Futures market plays an important role in the assimilation of information and price discovery in the stock market. Using Futures prices for the Samp;P CNX Nifty Index traded on the National Stock Exchange of India, we find that there is...

This paper examines the effect of corporate governance on investor reactions to accounting choice in the context of accounting for business combinations. Using a sample of 324 recent stock swap acquisitions I find that, contrary to practitioners' belief that capital markets penalize purchase...