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In the 21st century, already witness to unparalleled rates of globalization, discernible economic success can hardly be achieved without developed stock markets. In case of Georgia, the stock exchange remains in nascent stage of development and positions as one of the smallest and most illiquid...
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This paper aims to measure the effects of delisting on stock returns for the Vietnam stock market. This study employs a … study methodology, the empirical findings confirm that the delisting has negative effects on stock returns in the Vietnam … declines during three trading days following the announcement of delisting. Moreover, it is found that the differences in …
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Prior research suggests that the fear of litigation precludes most managers from manipulating earnings in the initial public offering (“IPO”) setting. Yet, managers' restraint is perhaps unwarranted: research has not yet linked instances of aggressive pre-IPO reporting to increased...
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The literature on ‘cash flow' or ‘earnings' beta is theoretically well-motivated in its use of fundamentals, instead of returns, to measure systematic risk. However, empirical measures of earnings beta based on either log-linearizing the return equation or log-linearizing the clean-surplus...
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