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Institutional Trading, Trading Mechanisms and Equity Market Integration: Essays on the Polish Stock Market
Voronkova, Svitlana - 2004
The launch of financial reforms in Central and Eastern Europe (CEE) at the beginning of the 1990s stimulated increased interest of investors and academics in the newly-born stock markets of this region. Most of the existing studies, however, consider a group of the CEE markets, stressing their...
Persistent link: https://www.econbiz.de/10009460737
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The Relationship between Short Interest and Stock Returns in the Canadian Market
Ackert, Lucy; Athanassakos, George - 2005
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...
Persistent link: https://www.econbiz.de/10009459116
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The Regulation of Stock Trading and its Enforcement in China
Shen, Tingting - 2004
The first public share issue in the PRC took place in 1994. By the early 21st century, in the space of less than two decades, the Chinese stock market has become the largest one in Asia, with the exception of Japan. Along with this rapid enlargement of the market, the Chinese stock trading...
Persistent link: https://www.econbiz.de/10009471788
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Accrual Noise Ratio as a Measure of Accrual Reliability
Njoroge, Kenneth - 2009
I develop an empirical model that estimates a firm-specific accrual noise ratio (ANR), an operational and statistically … grounded measure of accrual reliability, and test the measure's construct validity. The model allows accrual reliability to … metrics that measure relative perceived reliability, ANR measures accrual reliability independent of the perceptions of …
Persistent link: https://www.econbiz.de/10009475468
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Client Importance and Earnings Management: The Moderating Role of Audit Committees
Sharma, Vineeta D.; Sharma, Divesh S.; … - 2011
-based measures, both performance-adjusted discretionary total and current accruals as proxies for earnings management, and a measure …
Persistent link: https://www.econbiz.de/10009459106
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Cash flows and accrual accounting in predicting future cash flows of Thai listed companies
Chotkunakitti, Porntip - 2005
conducted in the United States has provided inconsistency in the results of investigating accounting data, cash flow and accrual … study investigates the ability of accrual and cash flows accounting data to predict future cash flows of Thai listed … companies. Three regression models are constructed namely earnings, cash flows, accrual components and cash flows models. In …
Persistent link: https://www.econbiz.de/10009475237
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Financial valuation of the German model: the negative relationship between ownership concentration and stock market returns, 1997-2001
Clark, Gordon L.; Wójcik, Dariusz - 2005
Believed to be a robust alternative to Anglo-American market capitalism, the virtues of the German model are increasingly disputed as doubts are raised about its long-term prospects. At the core of the German model is a system of corporate governance that is characterized by concentrated...
Persistent link: https://www.econbiz.de/10009441392
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Stochastic volatility with leverage: fast and efficient likelihood inference
Omori, Yasuhiro; Chib, Siddhartha; Shephard, Neil; … - 2007
This paper is concerned with the Bayesian analysis of stochastic volatility (SV) models with leverage. Specifically, the paper shows how the often used Kim et al. [1998. Stochastic volatility: likelihood inference and comparison with ARCH models. Review of Economic Studies 65, 361–393] method...
Persistent link: https://www.econbiz.de/10009441543
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Evaluating the economic impact of national sporting performance : evidence from the Johannesburg Stock Exchange
Smith, Brendan Kent - 2009
ENGLISH ABSTRACT: This research report examines stock market reactions to sudden changes in investor mood. The motivation for the study is the large volume of psychology and finance research showing that investor mood is affected by various non-economic or economically-neutral phenomena....
Persistent link: https://www.econbiz.de/10009442110
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Relations Between Stock Returns and Fundamental Variables: Evidence from a Segmented Market
Dhatt, Manjeet S.; Kim, Yong H.; Mukherji, Sandip - 1999
This study examines relations between stock returns and potential explanatory factors in Korea, an important and segmented emerging market. Our results show that Korean stock returns in general and returns on stocks listed in Section 1 in particular are significantly positively related to...
Persistent link: https://www.econbiz.de/10009476732