This article examine how firms manage earnings when firms are in interconnected networks, that is, when firms are interconnected to each other in a way that the survival of one firm is crucial to the survival of other firms connected to it. The article employs network typology to provide some...

Using a unique, hand-collected data set of actual daily share repurchases from the Athens Stock Exchange, we examine the stock market reaction around the disclosure date of actual share repurchases, the factors that affect the size of that reaction, and the motives behind share acquisitions. We...

Using a unique, hand-collected data set of actual daily share repurchases from the Athens Stock Exchange, we examine the stock market reaction around the disclosure date of actual share repurchases, the factors that affect the size of that reaction, and the motives behind share acquisitions. We...

This study aims to test empirically whether public share ownership is able to moderate the relationship between the financial performance proxy with profitability on the quality of information. The quality of IFR information is measured through the disclosure index compiled by Boubaker et al...

Understanding the pattern of stock market volatility is important to investors as well as for investment policy. Volatility is directly associated with risks and returns, higher the volatility the more financial market is unstable. The volatility of the Zimbabwean stock market is modeled using...

This paper focuses on one of the heavily tested issue in the contemporary finance, i.e. efficient market hypothesis (EMH). However, we try to find the answers to some fundamental questions basing on the analysis of high frequency (HF) data from the Warsaw Stock Exchange (WSE). We estimate model...

Using a sample of 312 bank M&As announced between 1998 and 2016 in the EU-27 countries, this paper investigates the impact of market concentration and the European sovereign debt crisis on the way investors react to these corporate events. In Western European countries, we find results which...

This paper provides empirical evidence that Croatian companies manage reported earnings to avoid losses and earnings declines. Specifically, we find that the cross-sectional distribution of scaled earnings and changes in earnings show high frequencies of small positive earnings and small...

Based on high-frequency firm-level data, this paper uncovers new empirical patterns on intraday momentum in China. First, there exists a strong intraday momentum effect at the firm level. Second, the intraday predictability stems mainly from the overnight component rather than the opening...

Purpose – The purpose of this paper is to develop a new framework to test the hypothesis that portfolio model predicts a negative correlation between stock prices and exchange rates in a trivariate transmission channel for foreign portfolio equity investment. Design/methodology/approach –...