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Political Regimes and Stock Market Performance in Africa
Asongu, Simplice - 2018
Instrumental Variable methodology. Political regime channels of democracy, polity and autocracy are instrumented with legal …
Persistent link: https://www.econbiz.de/10012936040
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Do presidential elections affect stock market returns in Nigeria
Aliyu, Shehu U. R. - In: West African journal of monetary and economic integration 19 (2019) 1, pp. 52-73
Evidences thrive on the effects of political regimes and presidential elections on stock market returns. This paper investigates the effects of presidential elections on stock returns around the election periods at the Nigerian Stock Exchange (NSE) market. A sample of five (5) months each for a...
Persistent link: https://www.econbiz.de/10013348441
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Why ‘Democracy’ and ‘Drifter’ Firms can have Abnormal Returns : The Joint Importance of Corporate Governance and Abnormal Accruals in Separating Winners from Losers
Kee, Koon Boon - 2014
removing firms with Low AA attenuates the good governance (Democracy) portfolio returns to no different from zero over the … period of 1991-2008. Good governance per se no longer pays off. Isolating the long portfolio of Democracy firms with Low AA … abnormal future returns as predicted in the seminal paper by Sloan (1996), but Democracy firms have positive abnormal returns …
Persistent link: https://www.econbiz.de/10013069518
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Why ‘Democracy’ and ‘Drifter’ Firms can have Abnormal Returns : The Joint Importance of Corporate Governance and Abnormal Accruals in Separating Winners from Losers
Kee, Koon Boon - 2010
removing firms with Low AA attenuates the good governance (Democracy) portfolio returns to no different from zero over the … period of 1991-2008. Good governance per se no longer pays off. Isolating the long portfolio of Democracy firms with Low AA … abnormal future returns as predicted in the seminal paper by Sloan (1996), but Democracy firms have positive abnormal returns …
Persistent link: https://www.econbiz.de/10013140085
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Test of the Chen-Roll-Ross macroeconomic factor model : evidence from Croatian stock market
Dolinar, Dolinar; Orsag, Silvije; Suman, Paola - In: UTMS journal of economics / University of Tourism and … 6 (2015) 2, pp. 185-196
This paper empirically examines the well-known Chen-Roll-Ross model on the Croatian stock market. Modifications of definitions of the Chen-Roll-Ross model variables showed as necessary because of doubtful availability and quality of input data needed. Namely, some macroeconomic and market...
Persistent link: https://www.econbiz.de/10011456296
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Global oil market and the US stock returns
Ahmad, Maryam; Manera, Matteo; Sadeghzadeh, Mehdi - 2015
This paper provides an analysis of the link between the oil market and the U.S. stock market returns at the aggregate as well as industry levels. We empirically model oil price changes as driven by speculative demand shocks along with consumption demand and supply shocks in the oil market. We...
Persistent link: https://www.econbiz.de/10011391816
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The profitability of following analyst recommendations on the Polish stock market
Zaremba, Adam; Konieczka, Przemysław - In: E-Finanse : finansowy kwartalnik internetowy 11 (2015) 1, pp. 22-31
The profitability of analysts' recommendations is documented in numerous studies from all over the world. However, the evidence from the Polish market is relatively modest. The primary aim of this study is to fill this gap. The paper contributes to the economic literature in four ways. First, it...
Persistent link: https://www.econbiz.de/10011393259
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Forecasting returns with fundamentals-removed investor sentiment
Stivers, Adam - In: International Journal of Financial Studies : open … 3 (2015) 3, pp. 319-341
The Baker and Wurgler (2006) sentiment index purports to measure irrational investor sentiment, while the University of Michigan Consumer Sentiment Index is designed to largely reflect fundamentals. Removing this fundamental component from the Baker and Wurgler index creates an index of investor...
Persistent link: https://www.econbiz.de/10011312208
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Size, value effects and the explanatory power of pricing models : evidence from BSE listed Indian industries
Sharma, Bhumiswor; Srikanth P; Suresha B. - In: Scientific papers of the University of Pardubice 30 (2022) 2, pp. 1-17
The firm size and value anomalies are the global-level counterpart for explaining the cross-sectional variations of equity returns. The purpose of this paper is to examine the size, value effects and the explanatory power of three well-known pricing models - CAPM, three-and five-factor across...
Persistent link: https://www.econbiz.de/10014440925
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Abnormal returns and stock price movements : some evidence from developed and emerging markets
Caporale, Guglielmo Maria; Plastun, Alex - 2020
This paper investigates the impact of abnormal returns on stock prices by using daily and hourly data for some developed (US, UK, Japan) and emerging (China, India) markets over the period 01.01.2010-01.01.2020. Average analysis, t-tests, CAR and trading simulation methods are used to test the...
Persistent link: https://www.econbiz.de/10012390869