Outlines previous research on the mutual fund industry and compares the characteristics of the US and European mutual fund markets using the structure‐conduct‐performance paradigm. Shows that the European industry is smaller, with more funds and more emphasis on fixed income, with the UK and...

This study examines the performance of both open‐ended and closed‐end mutual funds – as fixed income securities and vehicles for capital gains. A determination will be made of which categories one group was able to outperform the other and to recognize why a group performs better or worse...

Just like the market which has its bulls and its bears, investments has its fundamentalists crowd and its technicians crowd. The academic finance profession must wake up and realize that investing is no longer driven solely by fundamental and statistical analysis. While as a profession we...

Purpose – Taiwan OTC market is an electronic, order driven, call market. The purpose of this paper is to gain understanding of whether trade size or number of transaction provides more information on explaining price volatility and market liquidity in this market. The paper also aims to...

Purpose – The purpose of this paper is to focus specifically on the role of corruption in affecting financial markets. Recently, there are several studies that examine how one country’s level of corruption might affect asset prices in other countries. The aim of this article is to summarize...

Purpose – The objective of this study is to investigate the long‐run performance of initial public offerings (IPOs) in Germany for the period from 1977 to 1995. The paper studies why some IPO firms have substantial positive and others have substantial negative long‐run buy‐and‐hold...

Purpose – The purpose of this paper is to empirically examine the market efficiency, asymmetric effect and time varying risk–return relationship for daily stock return of Amman Stock Exchange (ASE). Design/methodology/approach – The Box–Jenkins selection model is used to determine the...

Purpose – The purpose of this paper is to examine stocks that are most actively discussed by online posters and see if the messages posted about these stocks have information or if they are just noise. Design/methodology/approach – This study uses messages posted on TheLion.com, which...

Purpose – The purpose of this paper is to examine whether or not a calendar time anomaly exists in the number and discount of seasoned equity offerings (SEOs) from 1980‐2004. Design/methodology/approach – Regression analysis was used on data from SEOs offered from 1980 to 2004 to determine...

Purpose – The purpose of this paper is to examine market concentration, economies of scale, economies of scope, and the relative size of a particular fund, within a fund family, as determinants of mutual‐fund expense ratio. This examination is focused at the asset‐manager level and is...