We investigate the existence of overreaction and underreaction in the Portuguese stock market and try to conciliate their simultaneous occurrence. We explore whether Portuguese stock returns are related to return past performance examining a sample that includes all stocks listed in the main...

This paper investigates the impact of international sporting and cultural events on national stock markets. We study market reaction to the announcements of the selected country hosting the Summer and Winter Olympic Games, the World Football Cup, the European Football Cup and World and...

We test for herding by Portuguese mutual funds over the period of 1998 to 2000. We employ the (herding) measure of trading suggested by Lakonishok et al. (1992). We find strong evidence of herding behavior for Portuguese mutual funds. Furthermore, our results suggest that the level of herding is...

We assess the performance of a few trading strategies based on a sample of 139 analysts' recommendations made public by a Portuguese investment bank's research department. We address whether stock picking strategies on the basis of these recommendations were effective tools for stock selection....

In this paper, I describe some of the main parametric and non-parametric tests used in event studies to assess the significance of abnormal returns or changes in variance of returns. The parametric tests here described are Brown and Warner's test (1980, 1985), with and without crude independence...

This paper examines the effects on stock returns of dual-listing on an international exchange. My sample consists of 70 firms from 10 emerging markets that dual-listed on the NYSE, NASDAQ and SEAQ-I over the period 1991-1995. The theoretical motivation for this paper lies in the context of the...

This paper examines the effects on stock returns of dual-listing on an international exchange. My sample consists of 70 firms from 10 emerging markets that dual-listed on the NYSE, NASDAQ and SEAQ-I over the period 1991-1995. The theoretical motivation for this paper lies in the context of the...

This paper investigates the impact of international sporting and cultural events on national stock markets. We study market reaction to the announcements of the selected country hosting mega-events such as the Olympic Games, the World and the European Football Cups and World Exhibitions. First,...

This paper investigates the impact of international sporting and cultural events on national stock markets. We study market reaction to the announcements of the selected country hosting the Summer and Winter Olympic Games, the World Football Cup, the European Football Cup and World and...

In this paper, I describe some of the main parametric and non-parametric tests used in event studies to assess the significance of abnormal returns or changes in variance of returns.