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Do Newly Listed Derivatives Affect the Market Risk Premium in a Thin Stock Market?

Clerc, Nicolas - 2001

This study examines the effects on the stock market unitary risk premium and volatility associated with the listing of stock and stock index derivatives in Switzerland. Based on a univariate GARCH (1,1) specification of the stock index variance and a time-varying unitary risk premium...

Persistent link: https://www.econbiz.de/10012742257

The Incremental Value Relevance of Firm Specific Risk Measures in Pricing Junk IPOs

Feroz, Ehsan H. - 2019

This is the first published study, to our best best knowledge, to look at the junk IPOs in a systematic manner using a quasi-experimental design. The study abandons the notion of homogeneous market for IPOs, and instead focuses on the differential demand for information across identifiable...

Persistent link: https://www.econbiz.de/10012746422

The Equity Premium Puzzle : An Artificial Neural Network Approach

Wong, Shee Q. - 2019

This paper presents evidence suggesting that artificial neural networks approach (ANNs) outperform traditional statistical methods and can forecast equity premiums reasonably well. The study replicates out-of-sample estimates of regression using ANN with economic fundamentals as inputs. The...

Persistent link: https://www.econbiz.de/10012746423

ANALYTICAL PROCEDURES : A Data Envelopment Analysis Approach

Feroz, Ehsan H. - 2019

We demonstrate the usefulness of Data Envelopment Analysis (DEA) as an analytical procedure for auditors, especially in the planning stage of the audit, to determine the extent of audit and to assess the preliminary risk level of the client. DEA based analytical procedures can provide consistent...

Persistent link: https://www.econbiz.de/10012746425

Red Flags in Accounting

Feroz, Ehsan H. - 2018

Persistent link: https://www.econbiz.de/10012746610

The Occurrence of Fibonacci Numbers in Time Series of Financial Accounting Ratios : Anomalies or Indicators of Firm Survival, Bankruptcy and Fraud? An Exploratory Study

Amershi, Amin H. - 2018

Although there have been conjectures about possible occurrences of Fibonacci numbers and golden means and ratios in financial statements (Feroz 1992), it is intriguing as to why managers should be reporting these rather stylized series of numbers the occurrences of which have hitherto been...

Persistent link: https://www.econbiz.de/10012746624

Accounting Red Flags

Feroz, Ehsan H. - 2018

Persistent link: https://www.econbiz.de/10012746628

Political Connections and Preferential Access to Finance : The Role of Campaign Contributions

Claessens, Stijn - 2017

Using novel indicators of political connections constructed from campaign contribution data, we show that Brazilian … access to bank finance is an important channel through which political connections operate. We estimate the economic costs of …

Persistent link: https://www.econbiz.de/10012746848

Political Connections and Preferential Access to Finance : The Role of Campaign Contributions

Claessens, Stijn - 2017

Using novel indicators of political connections constructed from campaign contribution data, we show that Brazilian … bank finance is an important channel through which political connections operate. We estimate the economic costs of these … political connections over the two election cycles to be at least 0.2% of GDP per annum …

Persistent link: https://www.econbiz.de/10012746849

How Often Do 'Conflicts of Interests' in the Investment Banking Industry Arise During Hostile Takeovers?

Calomiris, Charles W. - 2011

We analyze all hostile takeovers in the past ten years where the market capitalization of the target firm exceeded $1 billion and the identity of the financial advisor of the acquirer is known. Our analysis reveals that, in the majority of cases, at least one of the advisors for the acquirer...

Persistent link: https://www.econbiz.de/10012714861