Purpose: the paper aims at examining the existence of herding behaviour in two opposite market condition: bullish and bearish. Design/method/approach: Christie and Huang (1995) and Chang et al. (2000) Methods are used in the study. The sample includes daily and monthly data of listed companies...

In this paper, we use both the Dow Jones and NASDAQ indices to test the robustness of inswanger's (2004c) finding that US stock market dynamics are governed mostly by nonfundamental shocks or speculative bubbles after the 1982 debt crisis. We estimate a total of 72 SVAR models and 36 SVECM...

This study examines the contribution of fundamental financial information to shareholders value in Egypt stock exchange. The sample consists of the thirty one non financial firms included in the stock market index CASE50. The results indicate that certain financial fundamentals are quite...

Purpose: This paper uses the event study methodology to analyze the impact of unexpected political event on stocks abnormal returns. The objective is twofold. The first is to reach robust estimates of stocks abnormal returns. The second is to reach robust estimates of the effects of unexpected...

Purpose - This paper aims to examine the effect of both inflation rate and interest rate on stock prices using quarterly data on non-financial firms listed in DJIA30 and NASDAQ100 for the period 1999-2016. The stock duration model is used to measure the sensitivity in variations in inflation...

The progress of financial markets depends on the way world investors foresee the market potential of the country of choice. Countries that are associated with favorable economic incentives are able to motivate investments in their respective stock markets. The objective of this paper is to...