From 1963 through 2015, idiosyncratic risk (IR) is high when market risk (MR) is high. We show that the positive relation between IR and MR is highly stable through time and is robust across exchanges, firm size, liquidity, and market-to-book groupings. Though stock liquidity affects the...

From 1963 through 2015, idiosyncratic risk (IR) is high when market risk (MR) is high. We show that the positive relation between IR and MR is highly stable through time and is robust across ex-changes, firm size, liquidity, and market-to-book groupings. Though stock liquidity affects the...

We examine the improvements to forecast accuracy that result from analysts' visits to listed companies. We find that company visits significantly enhance the accuracy of the analysts' earnings forecasts for those companies. The benefit from company visits is more pronounced for companies that...

From 1963 through 2015, idiosyncratic risk (IR) is high when market risk (MR) is high. We show that the positive relation between IR and MR is highly stable through time and is robust across exchanges, firm size, liquidity, and market-to-book groupings. Though stock liquidity affects the...

We compare the ownership characteristics of tobacco stocks with their peers in the same country and industry group. We find lower reported ownership for stocks in the tobacco industry, which suggests that anonymous investors are larger owners of these sin stocks. Compared to peer stocks, U.S....

The purpose of this research is to determine the main forecasting factors of stock analysts, to analyze whether stock analysts have a rational base for their advice to the individual investors. According to the Modigliani-Miller theorem, the factors which affected to dividend and capital gain...

Improvements in investment efficiency and increase in volume of investments are parts of investment activity, and the growth of it is a necessary condition for economic development in every country. In environment of external mechanisms weakness for favorable investment climate creation, the use...

This research tries to find evidence for the Halloween effect by presenting an assessment of the profitability of the “Sell in May, and go away” investment strategy associated with this phenomenon. We present significant proof of the existence of the Halloween effect; it was observed in 29...

This study aimed to establish the financial distress prediction in a public company listed on the Jakarta Stock Exchange specifically incorporated in the trading industry. The samples used in research are all public companies incorporated in the trading industry 2002-2006 period. This study used...

This study aimed to test five fundamental factors (growth, profitability, leverage, liquidity, and efficiency) and two market ratios (earning ratio, and price earning ratio) that predicted to influence stock price in several groups of manufacturing industries listed in Jakarta Stock Exchange...