We examine the stock price and volume effects of changes in the composition of the FTSE Bursa Malaysia Kuala Lumpur Composite Index (KLCI), over the time period of 2005 to 2012. We find evidence to support the price pressure hypothesis for both additions to and deletions from the KLCI. This is...

We study the association between the stock liquidity of SMEs in the US and their likelihood of bankruptcy, using a dataset that comprises information on 5075 firms over the time period from 1984 to 2013 using the hazard model of Campbell et al. (2008). We find that less liquid stocks are...

We study the effect of derivatives use for both trading and hedging on firm value and financial and market performance using a hand-collected data sample from UK financial firms. We show that the use of derivatives for foreign exchange and interest rate risk hedging enhances value, and that...