Purpose – The purpose of this study is to construct a financial conditions index (FCI) for the South African economy to enable the gauging of financial conditions and to better understand the macro-financial linkages in the country. The global financial crisis that began in 2007-2008...

Purpose – The purpose of this paper is to: investigate whether the foreign institutional investors in Taiwan herd towards the stocks in the same industry; identify the causes of industrial herding; analyze whether herding behavior impacts future industrial returns; and trace the changing...

Purpose – The purpose of this paper is to focus on the performance of three alternative value‐at‐risk (VaR) models to provide suitable estimates for measuring and forecasting market risk. The data sample consists of five international developed and emerging stock market indices over the...

Purpose – The purpose of this paper is to investigate whether corporate dividend policy changed during the financial crisis. Design/methodology/approach – For this study, a life‐cycle model is used to predict the probability that a firm pays a dividend. The data sample for this research...

Purpose – This paper aims to assess the impact of the global financial crisis of 2007‐09 on the risk structure of S&P 500 firms by examining their market, active, and residual risks before and during the crisis. Design/methodology/approach – The classic one‐factor model is estimated for...

Purpose – The purpose of this paper is to contribute to the capital structure literature by examining the determinants of capital structure from the context of South Africa and to provide evidence of the effects of the 2007/2008 global financial crisis on firm-level determinants of debt-equity...

Purpose The purpose of this paper is to investigate executive compensation in the finance sector during the periods surrounding the crisis with a view to determining whether compensation incentives were associated with excessive risk taking. Design/methodology/approach The authors compare...

Purpose – Coupon and principal Separate Trading of Registered Interest and Principal Securities (STRIPS) maturing at the same date often trade at different yields. The paper aims to discuss this issue. Design/methodology/approach – This paper analyzes for the first time the maturity...

Purpose – This paper aims to examine how issue spreads are determined in the New Zealand commercial paper market both before and after the onset of the global financial crisis. Design/methodology/approach – This paper uses regression analysis on data from 1,340 commercial paper tenders...

Purpose Motivated by massive bank failures during the financial crisis and the remarkable resilience of Islamic banks (IBs), this paper aims to analyze the interdependencies between asset/liability portfolio choices of IBs in emerging markets. Design/methodology/approach The authors collect data...