Magistro baigiamajame darbe nagrinėjama aukso kainų įtaka akcijų rinkoms. Darbą sudaro trys pagrindinės dalys: aukso kainų įtakos akcijų rinkoms nagrinėjimas mokslinėje literatūroje, aukso kainų įtakos akcijų rinkai tyrimo metodologija ir aukso kainų įtakos akcijų rinkoms...

We examine how corporate governance indicators such as board size, board composition and CEO duality impact on financing decisions of firms. Panel data covering the five year period 1999-2003 from forty-seven (47) listed firms on the Nairobi Stock Exchange (NSE) was used. Analysis was done...

Stock markets in Africa are small, underdeveloped and generallyundercapitalised by world standards. Until recently they have been perceived astoo risky to invest in by external investors. The “old” perception of Africa as a“single country/block” is slowly receding and countries are...

The ability to successfully exploit the presence of investor overreaction has been identified in a number of stock exchanges, yet numerous examples exist where little or un-exploitable investor overreaction is found.This research attempts to identify an international market where a) useful...

This paper examines the relationship between beta risk and realized stockindex return in the presence of oil and exchange rate sensitivities for fifteen countriesin the Asia-Pacific region using the international factor model. Thirteen of the 15countries have the expected beta signs and show...

This paper examines whether favorable information conveyed by stock split announcements transfers to non-splitting firms within the same industry. We find that there exists intra-industry reaction; shareholders of non-splitting firms experience significant positive abnormal returns during the...

This paper provides new insight into the relationship between short sales and stock market returns using a sample of stocks sold short in Canada. Short interest is defined in relation to trading volume. The results strongly support the assertion that short sales and excess returns are...