This paper examines the movements in the Marxian surplus-value rate using a Quantitative Marxist methodology. It examines the relationship between surplus-value and the degree of monopoly power in the UK economy using quarterly data and a proxy for aggregate concentration — the ratio of market...

Changes in the risk structure of stock returns may sometimes be very revealing. We examine economic variables that help explain principal components in UK stock returns, 01/1985 to 12/2001. The loading pattern on explanatory variables for the first component in a ‘bubble’ period is...

A great deal of research has examined comovements between commercial real estate returns and macroeconomic variables in the US economy. These relationships have attracted less research interest for the UK real estate market, despite this being the largest European Market. This study targets this...

The study aims at simulating and forecasting a company's stock returns and prices by a fundamentalist analysis process based on a Vector Error Correction with Exogenous Variables (VECX) econometric model. To achieve this, we selected relevant fundamentalist indicators and specified a model...

This empiric-analytic paper, aims at verifying whether the firms' capital structure is sensitive to leverage measures. It also verifies whether most of the leverage variability is due to financial debts. The sample consists of all non-financial companies with data available, positive equity and...

This study is aimed at developing and validating an index designed to measure the level of social disclosure of external social programmes implemented by firms listed on the Brazilian stock market. Based on Ramanathan (1976), Haydel (1989) and Hammond and Miles (2004), the index of social...

The purpose of this article is to analyze whether the liquidity effect exists in the Brazilian stock market. In addition to analyzing the liquidity effect, this article evaluated the capacity of CAPM and the Fama-French three-factor model (1993) in explaining it. For such purpose, the companies...

The development of the Brazilian stock market has raised concerns about the practice of insider information, with several cases being documented in recent years. We hypothesize that insider trading is a form of corruption. As such, the higher the corruption level in a country, the more intense...

Conventional cost accounting assumes that the relation between cost and volume is symmetric for volume increases and decreases. We test an alternative model where costs increase more when activity rises than they decrease when activity falls by an equivalent amount. We find, for a sample of...

Previous studies have shown that linear models are incapable of capturing business cycle dynamics with accuracy. This has brought interest in non-linear models such as the Markov switching (MS) regime technique, which can distinguish business cycle recession and expansion phases, and is...