This paper examines whether it is possible to forecast one-year-ahead returns of individual companies based on the observed ‘psychopathic' characteristics of their top management team. We find that language characteristic of psychopaths present in annual report narratives, questionable...

Economic policy touches most facets of corporate decision-making and variations in policy can elicit significant changes in financial performance and asset prices. We utilise the EPU measure of Baker et al. (2016) to investigate the extent to which policy uncertainty influences Australian...

Much of the research on the long-run market performance of initial public offerings (IPOs) has found that the subsequent share prices are often lower than first day prices, which is documented as the underperformance phenomenon. We contribute to the literature by analysing the performance of 249...

We study the liquidity commonality impact of local and foreign institutional investment in the Australian equity market in the cross-section and over time. We find that commonality in liquidity is higher for large stocks compared to small stocks in the cross-section of stocks, and the spread...

The impact of natural disasters on the Australian equity market is examined. The data set employed consists of daily price and accumulation returns over the period 31 December 1982-1 January 2002 for the All Ordinaries Index (AOI) and a record of 42 severe storms, floods, cyclones, earthquakes...