Global stock market investment has highlighted the debate about whether country effects are typically more relevant than sector/industry effects in international stock returns. This paper studies the roles of country and industry effect on several major European financial markets. We find clear...

Purpose – The aim of this paper is to examine the role of liquidity in asset pricing in a tiny market, such as the Portuguese. The unique setting of the Lisbon Stock Exchange with regards to changes in classification from an emerging to a developed stock market, allows an original answer to...

Although the behavior of the Spanish stock market has been studied from many different points of view, none of the previous research has ever analyzed the influence of previous daytime, overnight and daily returns from the DOW and IBEX upon 5-min intraday returns of the IBEX throughout the...

This study aims to assess performance differences between family and non-family firms, taking into account the Portuguese and the Spanish stock markets. We provide new evidence for this field since we take into account the heterogeneity among family firms. Our thesis is that the leadership of...

Sustainable development is a priority to the United Nations. Moreover, investment managers consider environmental, social and governance score as an important variable in portfolios selection. The fifth goal in the 2030 Agenda is gender equality. Besides, European countries have established...