We assess UK mutual fund performance from a perspective of a peer-group, applying a novel approach suggested in Hunter et al. (2014). Our sample comprises of 817 UK long-only active equity mutual funds allocated to nine Morningstar style category peer-groups in the period 1992-2016. Overall, we...

We examine the trade credit linkages among firms within a supply chain to reckon the effect of such linkages on the propagation of liquidity shocks from downstream to upstream firms. We choose a sample appropriate for this task, consisting of a large data set of Italian firms from the textile...

This paper investigates the role of volatility risk on stock return predictability. Using 596 stock options traded at the American Stock Exchange and the Chicago Board Options Exchange (CBOE) for the period from January 2001 to December 2010, it examines the relation between different...

This study proposes a new approach to examining executive remuneration and manager characteristics disaggregated by market index peer clusters and analyses personal attributes that differentiate managers across companies of different market caps (proxied my market indices such as FTSE100,...

This paper estimates consequences of the VAT increase on the tourism industry, by analysing the impact of the significant VAT rise in Portugal on the profitability and survival of firms related to food and beverage service activities. The analysis is divided into 3 periods: before and after the...

This paper discusses how bank governance has evolved in academic research and critically discusses the evolution of its concepts, research topics, and research scope in the literature. This paper differs from other literature reviews of the bank's corporate governance in two main points. First,...

We provide one of the first large sample studies to examine the effect of the COVID-19 crisis on firm profitability and liquidity for micro, small, and medium-sized firms in the Visegrad Four (V4) countries. Using panel analysis and difference-in-differences estimation we analyze a sample of...

This paper assesses the relationship between risk-shifting of mutual funds, measured as benchmark-adjusted factor-based investment style change following a structural break, and their risk-adjusted performance. We isolate only the breaks in style risk beyond those embedded in the funds’...