We explore the nonlinear linkage between financial risk tolerance and demographic characteristics. Our tests support the nonlinear role of age, income and number of dependents.

Purpose – The purpose of this paper is to examine the impact of female board membership on the profitability of corporate insider purchases. Design/methodology/approach – The authors use a classic event study approach. They measure abnormal returns around the insider purchase events, and...

This study investigates Asia Pacific banks' annual report disclosures on derivatives using the Basel Committee and IOSCO joint recommendations as the derivative and risk management disclosure benchmark. Based on our constructed disclosure index, the mean score is 35%, suggesting that many of the...

In this paper we conduct tests for two different trading rules, namely, the Dual Moving Average (DMA) model and the Channel Breakout (CHB) rule. These rules are tested across five futures contracts – the S&P 500, British Pound, US T‐Bonds, COMEX Gold and Corn using daily data over the period...

Purpose – The purpose of this paper is to investigate the extent of directors breaching the reporting requirements of the Australian Stock Exchange (ASX) and the Corporations Act in Australia. Further, it seeks to assess whether directors in Australia achieve abnormal returns from trades in...

Purpose The purpose of this study is to provide new cross-country evidence on the relation between real estate investment trust (REIT) returns and idiosyncratic risk for samples of listed and unlisted REITs in the US and Australia. Design/methodology/approach Five alternative models with...

Purpose – Using a very large sample of psychometrically derived risk profiles of adult Australians, the paper aims to explore the linkage between financial risk tolerance and gender. Design/methodology/approach – The key proxy of risk tolerance score (RTS) derives from a 25 question survey...

Purpose – The purpose of this paper is to examine the impact of female board membership on the profitability of corporate insider purchases. Design/methodology/approach – The authors use a classic event study approach. They measure abnormal returns around the insider purchase events, and...

An aspect of prospect theory posits that decision‐makers, when making decisions in the face of risk, make their decisions with respect to a pre‐existing reference point or ‘frame’ (the statusquo bias). We utilize data from the Australian version of the TV game show, Deal or No Deal, to...

Purpose – The purpose of this paper is to test the persistence and pricing of earnings, free cash flows (FCF) and accruals using Australian data. In response to arguments concerning omitted variables in the Mishkin test, it seeks to explore asymmetric effects by incorporating categoric...