Contemporaneous evidence of corporate revenue and profit forecasting error is provided in a different institutional context, Australian sharemarket initial public offerings. This article extends the literature on company forecast risk by incorporating new proxies for forecasting error (float...

Theoretical models of trade (Dontoh and Ronen, 1993; Holthausen and Verrecchia, 1990; Karpoff, 1986; Kim and Verrecchia, 1997; and Varian, 1989) show that information-based trading is a consequence of four fundamental determinants: heterogeneous prior beliefs, differential interpretations, the consensus effect,...

We measure the impact of murders on prices and rents of homes in Sydney. We find that housing prices fall by 3.9% for homes within 0.2 miles of the murder, in the year following the murder, and weaker results in the second year after a murder. We do not find any effects of murders on rents....

Investment performance studies of pension or mutual funds have overall been too statistically inconclusive to create definitive rankings to help investors make fund selection decisions. This paper presents an alternative approach based on comparing the pension or mutual fund firms themselves...

This paper investigates two aspects of the demand side determinants of bank lending for a sample of Australian SMEs. Using data from the Growing Australian Business Survey we document the results on why a sample of Australian SMEs seek bank finance and bank credit rationing of loan applications....

We examine the factors associated with the establishment of an environmental committee at the board level and its impact on the disclosure of environmental risks in an Australian context. Using a sample of Australian Stock Exchange firms disclosing their information to the Carbon Disclosure...

Market efficiency is an important feature of successful financial markets. The aim of this paper is to analyze the available evidence on the efficient market hypothesis (EMH). Meta-regression analysis is applied to 1,560 estimates of the Variance Ratio test of the efficiency of Asian and...

In this study, we investigated the impact of the first wave of the COVID-19 pandemic on various sectors of the Australian stock market. Market capitalization and equally weighted indices were formed for eleven Australian sectors to examine the influence of the pandemic on them. First, we...