While the sell-in-May effect appears to persist in the long run, the authors find that the anomaly is not present in non-election years (both mid-term and presidential elections). There is no significant difference between the May–October and November–April stock returns in non-election...

In this paper, the marginal effects of changes (due to non-stationarity or estimation errors) in the REIT-stock risk premium and the REIT-stock correlation on the optimal portfolio asset mix of REITs, stocks, and bonds are determined. Employing a mean variance utility function and considering...

Notes US efforts to make documents easier to read and reviews previous research on readability. Presents a study of the readability of the investment objective sections of two mutual fund prospectuses, using a sample of college students, the Cloze Readability Procedure and the Flesch readability...

Purpose – Currently many jobs for undergraduate finance majors require that the student demonstrate advanced Excel modeling skills. The purpose of this paper is to illustrate and explain the Excel Best Practices which should enhance their financial modeling efficiency....

Purpose – The purpose of this paper is to develop an algorithm to harvest user specified information on finance portals and compile it into machine‐readable datasets for quantitative analysis. Design/methodology/approach – The Visual Basic macro language in Microsoft Excel is applied to...

Purpose – The purpose of this paper is to describe some optimization exercises which have proved to be very useful for introducing students to Markowitz‐style mean‐varience optimization. Design/methodology/approach – This paper describes two exercises that walk students through the...

Purpose – The purpose of this paper is to propose a way to introduce regression analysis into courses with minimal start‐up time. Doing so makes it less likely that introducing both the software and the estimation technique will create discontinuity in the flow of the material being covered....