Stock market anomalies representing the predictability of cross-sectional stock returns are one of most controversial topics in financial economic research. This chapter reviews several well-documented and pervasive anomalies in the literature, including investment-related anomalies, value...

Asset allocation models have evolved in complexity with the development of modern portfolio theory, but they continue to operate under the assumption of investor rationality and other assumptions that do not hold in the real world. For this reason, academics and industry professionals make...

Prior research has largely focused on the positive side of customer experience, such as satisfaction. In contrast, this study investigates the negative side of customer experience and tests the harmful impact of consumer negative voice on firms' stock returns. Based on a longitudinal real-world...

While Wall Street closely watches financial analysts' earnings forecasts, Main Street often scrutinizes product quality relative to competition. Do firms with superior product competitiveness enjoy greater likelihood of beating analyst earnings target? And if so, is there contingency in this...

Both managers and investors are increasingly concerned with the impact of advertising spending on shareholder returns. This study investigates the analyst-based processes by which advertising may create firm value. Using a large longitudinal dataset with 1,052 firms over 20 years, we find that...

One of most fundamental economic issues is optimal resource allocation towards productive investment with rational risk-taking. In doing so, there is a need to performance evaluation indices, some of which emphasize upon cash flow variables and some others upon information contents of accounting...

Decision making about dividend payout is one of the most important decision that companies should encounter. Identifying factors that influence dividends can help managers in making an appropriate dividend policy. In the other side, companies' dividend payouts over time and with a stable manner...

Consumer return policies have been long recognized and studied by operations management scholars as an important managerial lever in a retail environment. Yet, the behavioral aspects of return policy decision-making and interaction of return policy decisions with other common operational...

We investigate the cross-sectional pattern of stock returns for eight emerging markets using Vector Autoregressive Approach (VAR) to test whether dividend yields can predict stock returns through impulse response characteristics. Our results confirm that dividend yield shocks play an important...

The subject insider trading is controversial. This paper presents series of event studies carried through on the trades with stocks of the firm carried by insiders with the objective to detect abnormal returns, based on the access to privileged information. The sample is composed by trades...