In the last decade, neural networks have emerged from an esoteric instrument in academic research to a rather common tool assisting auditors, investors, portfolio managers and investment advisors in making critical financial decisions. A better understanding of the network's performance and...

Predicting exchange rates has long been a concern in international finance as most standard econometric methods are unable to produce significantly better forecasts than the random walk model. Recent studies provide some evidence for the ability of using multivariate time series models to...

Many studies have found underpricing of initial public offerings (IPOs) and attributed the underpricing to information asymmetry either between issuers and underwriters or between informed and uninformed investors. However, by observing the distribution of initial returns on stocks after their...

We apply the bootstrap technique proposed by Kosowski <italic>et al</italic>. [<italic>J. Finance</italic>, 2006, <bold>61</bold>, 2551--2595] in conjunction with Carhart's [<italic>J. Finance</italic>, 1997, <bold>52</bold>, 57--82] unconditional and Ferson and Schadt's [<italic>J. Finance</italic>, 1996, <bold>51</bold>, 425--461] conditional four-factor models of performance to examine whether...