Purpose: The presence of a day-of-the-week effect has been investigated by many researchers over many years, using a variety of financial data and methods. However, differences in methodology between studies could have led to conflicting results. The purpose of this paper is to expand on an...

Purpose: The purpose of this paper is to identify the shareholder value creation measure best suited to express shareholder value creation for a particular industry. Design/methodology/approach: The analysis was performed on 192 companies listed on the Johannesburg Stock Exchange, classified...

Behavioural finance involves a study of the process and influence of human aspects in decision-making and how they influence markets. The core principle of behavioural research in various disciplines is a focus on identifying the ways in which behaviour differs from a normative framework, and...

Purpose – The purpose of this paper is to determine whether anchoring and adjustment as heuristic-driven bias and herding behaviour influences listed property fund managers in South Africa’s property investment decisions. The study contributes to the understanding of the influence of...

Purpose Prior studies on determinants of shareholder value creation have reported conflicting and sometimes confusing results. In this study, to obtain more refined and industry-specific results regarding variables determining shareholder value creation, an analysis was performed focusing on...