This study aims to test the explanatory power of Fama and French three factor model (1993) in explaining cross-sectional average return for Pakistan¡¯s equity market for the time frame of 10 years from 2004-2014. The sample includes firms that traded on KSE-100 index from 2004-2014. Six...

In this paper we examine definitional aspect of Investor Sentiment, the key economic, market and regulatory factors that influence investor sentiment and the relationship between investor sentiment and market performance. There seems to be no clear consensus on the concept of investor sentiment...

The study first reviews the results of major international research projects on the connection of accounting information and market price of companies, then presents experiences of the empirical analysis carried out by the author. The analysis has been done by the author on a data set of the...

This paper presents a new way of measuring residual income, originally introduced by Magni (2000a, 2000b, 2003). Contrary to the standard residual income, the capital charge is equal to the capital lost by investors. The lost capital may be viewed as (a) the foregone capital, (b) the capital...

The purpose of this study is to examine that the earnings components and banking efficiency are relevant to the market value of the banks or not. Testing the relationship we used DEA for the banking efficiency and regression model is estimated because it is panel study we used Common effect,...

This paper presents a new way of measuring residual income, originally introduced by Magni (2000a, 2000b, 2003). Contrary to the standard residual income, the capital charge is equal to the capital lost by investors. The lost capital may be viewed as (a) the foregone capital, (b) the capital...

The study based on a sample of 61 UAE listed companies examines the determinants of value creation. Size in terms of total assets of a firm is inversely related to value creation. Value as measured by market to book value of equity is negatively related to the size measured by total assets....

The main topic of the paper is a study of Katerina Hellström. Author of the study engages in testing of value relevance in transition economy – in the Czech Republic during the years 1994-2001. The test demonstrated less value relevance in the Czech Republic in comparison of Sweden and also...

This paper analyzes the impact of global risk appetite on the risk premium utilizing high-frequency data. Taking the Turkish economy as our laboratory, we find that the risk premium volatility responds only to a worsening in the risk appetite for the Turkish economy, which is a result that we do...

In the first three decades of CRSP data, value stocks have higher betas than growth stocks. Later on, the ranking is reversed and the gap in beta widens. What makes growth strategies nowadays bear more market risk than value strategies? What are the causes of the reversal in the ranking of...