This study applies various popular technical trading rules to Asian property market indices from 1995 to 2015 to investigate the profitability of these rules. The results validate the predictive and profitability power of technical indicators in the markets of Indonesia, Malaysia, Taiwan, and...

This paper tests weak-form market efficiency of CIVETS (Colombia, Indonesia, Vietnam, Egypt, Turkey and South Africa) over the period 2002-2012. We apply unit root tests and variance ratio tests to investigate if these equity markets follow a random walk. The empirical results indicate that our...

This paper investigates the Islamic calendar seasonal anomalies in the stock returns of twelve countries where the majority of the population are Muslims. We show empirical evidence of statistically significant Islamic calendar seasonal effects in all twelve countries of our sample. We document...

This paper investigates the relationship between financial news content (optimistic/pessimistic), REIT returns, and trading volume. We apply textual analysis and find that high media pessimism predicts downward pressure on REIT returns. Negative words in the financial press are significantly...

This study provides initial empirical evidence on the usefulness of consumer sentiment and investor optimism indices in explaining real estate investment trust (REIT) price movements. We find evidence of uni-directional causality from REIT returns to the change in Michigan Consumer Sentiment...

The main objective of this study is to examine the performance of hotel stocks and lodging real estate investment trusts (REITs) by estimating the recent Fama-French five-factor model (including investment and profitability factors) with an additional momentum factor during the 2000–2015...