Purpose - This article aims to present a new strategy of portfolio selection.Design/methodology/approach - After having made a comparative survey of different strategies of portfolio selection adopted by portfolio managers in Tunisia, we propose a new strategy, which we call weighted...

There has been no previous research on the link between license market and stock market. Are the two markets integrated or coupled such that the valuation of the same portfolio of intangible assets is consistent cross market? This study tries to fill the research gap. Based on the data of...

The financial market interest several researchers, especially in the domain of assessment of the financial assets and their performances. The previous research identified several anomalies of the market, as size, Monday, January, PER effects, etc. putting in question the notion of market...

We exploit a quasi-experiment to examine the effects of market makers and stock analysts in three emerging stock markets. We find substantial differences in the effects across markets and, in contrast to existing literature, the effects of market makers are not always positive. Our results...

In this paper we examine the interactions between the U.S. stock market and the Chinese stock market in the scope of market microstructure. In particular, first time in the literature, we examine the forecasting ability of the stock performance in one market to predict the direction of the stock...

Besides the positively biased rating structure and procyclical nature of analysts' stock recommendations we observe that within the global universe stock recommendations and stock performance are largely uncorrelated. Nevertheless, investors are able to benefit from sell side stock...

This paper explores the presence of the turn – of – the – month effect on Bucharest Stock Exchange. We employ daily values from 2002 to 2011 of the two important indices of the Romanian capital market: BET – C and RAQ – C, composed on the stock prices of some of the biggest Romanian...

This paper explores the presence of within – month effects on the Romanian capital markets. In our analysis we employ the daily values of some important indexes from two main components of the Bucharest Stock Exchange: BET, where there are listed some of the biggest Romanian corporations, and...

This study tests a large sample of UK equity returns from 1965-2007 for predictability. Returns are tested using the Lo and MacKinlay (1988) variance ratio test and the Chow and Denning (1993) multiple variance ratio tests. Overall, the results show strong signs of predictability. There is a...

More the financial markets become ‘peopled,' more behavioural patterns are observed in individual investors. The individual investor's attitudes and opinion towards investing must have a significant impact on the stock market. The aim of this study is to analyse the individual Investor's...