This paper constitutes an analysis on Indian stock market returns. The conducted study probes the nexus between returns on four stock market indices, namely Sensex (BSE 30), Energy Index (BSE ENERGY), Oil and Gas Index (BSE OIL & GAS), and Capital Goods (BSE CG), and returns on traded energy...

This paper examines limits to arbitrage and mispricing in Treasury protected securities (TIPS). To this end, I construct two different measures of disparity in bond prices from the smooth yield curve. I find that deviations in prices are highly correlated for different maturities and also...

This paper analyzes the reactions of investors and management to an error announcement within an industry. We investigate capital market reactions as well as changes in the financial reporting decisions for a sample of CDAX®-listed industry peers to error firms in Germany. We find that peers...

How is it possible to successfully time the stock market using publicly available information if the market prices evolve according to a random walk in a rational market? Our paper answers this question by providing nine strategies to time the S&P500 index, using two specific real variables as...

This paper discusses potential solutions to the current impasse related to food security stocks, including a concrete proposal by the author on language to be included in the Agreement on Agriculture that may help comply with the mandate of the Bali Ministerial to find a solution in the next...

Prior research fails to explain why theoretically predicted magnitudes of earnings response coefficients (ERCs) and price-to-earnings ratios (P/E ratios) differ from their empirical counterparts. Therefore, we (re)investigate the associations between earnings innovations, persistence of expected...

Unusually high accounting accruals are observable to sophisticated investors, who must then decide whether the accruals represent managerial manipulation of reported earnings or an indication of future firm performance. We hypothesise that both cash and stock dividends contain information useful...

Is something wrong with the structure of the U.S. stock market? Both industry participants and scholars have recently faulted the equity market for its lack of innovation. In particular, they have emphasized that stock exchanges may not have the right incentives to provide innovative solutions...

The literature regarding the effects of managerial optimism concentrates on CEOs, all but neglecting the broader executive team. We evaluate the interplay of the optimism levels of the CEOs and CFOs of listed real estate investment trusts, and study the commercial real estate transactions made...

We examine how private placements of equity (PPEs) affect debtholder wealth. We find that banks charge higher loan spreads, require more collateral, and impose stricter covenants for firms conducting PPEs. The results are more pronounced for firms without a value-enhancing PPE feature,...