Effective incorporation of socially responsible investing (SRI) into student-managed investment fund (SMIF) programs is discussed in the context of a case study. The experience of the example SMIF suggests some techniques to enhance the learning experience. These include: students developing...

In this paper we investigate the profitability of the 52-week high momentum strategy in the Australian equity market over the period 1996-2008. We provide the first examination of the economic significance of the strategy by applying short-sale restrictions and utilizing bid-and-ask prices and...

We examine the efficacy of exchange queries in assisting to explain anomalous trading behaviour in a timely manner. Most equity markets rely on continuous disclosure rules to motivate corporations to immediately disclose sensitive information that can affect trading. Queries allow exchanges to...

A theoretical model proposed by Cornelli and Li (2002) suggests that informed traders transact in shares of the target firm following the announcement of a takeover. In such cases, takeover traders are incentivised to become large shareholders in the target and, in doing so, influence the...

We distinguish luck from skill in fund portfolios of differing activeness by applying bootstrap simulations. Bootstrapping is important as heterogeneous risk taking according to the activeness of a fund's strategies can bias standard significance tests, causing non-normalities in the...

Active opportunity in the market, measured by cross-sectional dispersion in stock returns, significantly influences fund performance. Active strategies have the greatest impact on returns during periods of high dispersion, when alpha produced by the most active funds significantly exceeds that...