Purpose – The purpose of this paper is to establish two competitive models to explain why investors use technical analysis (TA). Design/methodology/approach – Information Discovery Model suggests that technical traders are able to infer non-public information; Herding Behavior Model argues...

Purpose The purpose of this paper is to compare the profitability of different pairs selection and spread trading methods using the complete data set of commodity futures from Dalian Commodity Exchange, Shanghai Futures Exchange and Zhengzhou Commodity Exchange. Design/methodology/approach Paris...

Purpose – Motivated by recent studies that demonstrate the superiority of the Global Industry Classification System (GICS) relative to the Standard Industry Classification (SIC) system in capital market research, the authors revisit the stock market anomaly documented by Thomas and Zhang (TZ)...

Purpose – The purpose of this paper is to replicate Richardson et al. ’s (2005) study on how accrual components’ reliability affects earnings persistence and whether investors anticipate the lower earnings persistence through stock return. In this study, the authors use more recent data to...

Purpose – The purpose of this paper is to examine the January effect, a well-documented capital markets pricing anomaly in which January return premiums are observed to be on average higher than in other months of the year. Extant literature focusses primarily on investor trading behaviors and...

Purpose – This paper aims to investigate the impact of the introduction of the 2004 bank capital requirements on the quoted stock prices on the Nigerian stock market. Design/methodology/approach – Using monthly data over the period January 1986 to December 2006, residual analysis methodology...

Managers generally possess complex social networks and occupy central positions within their networks. We investigate the influence of managers' social network relationships on capital market pricing efficiency by specifically analysing the relationship between top management team network...