This study is situated in an investment context and explores how the effect of framing (gain versus loss framing) changes the impact of incidental emotions (fear and excitement) on behavioral and physiological outcome measures. While existing literature has found that the effects of framing and...

Prior research has documented that, counter-intuitively, high credit risk stocks earn lower – not higher – returns than low credit risk stocks. In this paper we provide evidence against rational expectations explanations, and show that a model incorporating limits-to-arbitrage factors is...

This paper examines spillover effects caused when market participants trade different financial instruments in a single operation. We develop and test an extended model for cross-correlation in the trading processes of different assets on the European bond market. We find a significant...

This study examines in detail the link between accounting measures of a firm's success and its share price performance, employing data on all currently listed French companies. A key finding is the negative relationship between the growth rates of earnings, sales, and assets, and the following...

This paper proposes and tests a new framework for weighting recursive out-of-sample prediction errors in accordance with their corresponding in-sample estimation uncertainty. In essence, we show how as much information from the sample as possible can be used in the evaluation of prediction...