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Factor Returns in the Polish Equity Market

Zaremba, Adam - 2016

determinants of stock returns. This study seeks to identify factors important for forecasting changes in stock prices in Poland … Poland it was possible to build factor-based portfolios which outperformed the broad market. However, the Polish market seems …

Persistent link: https://www.econbiz.de/10013007030

What Types of Macroeconomic Announcements Affect Stock Markets in Emerging Eastern Europe?

Saleem, Kashif - 2014

markets. Stock market and macroeconomic news from 2006-2010 for Russia, Poland, Hungary and the Czech Republic are analyzed …

Persistent link: https://www.econbiz.de/10013045383

What Drives the Amount of Capital Raised at IPO? Evidence from the Warsaw Stock Exchange

Dudycz, Tadeusz - 2018

This paper examines the impact of market timing and legal changes in 2005, aimed at aligning Polish regulations on financial markets with the UE standards, on the amount of capital raised at initial public offerings (IPOs) on the Warsaw Stock Exchange. We find that although during IPOs firms...

Persistent link: https://www.econbiz.de/10012934305

The Profitability of Following Analyst Recommendations on the Polish Stock Market

Zaremba, Adam - 2015

analysts' recommendations from Poland. Second, it examines the relations between these patterns and the size of the rated … use monthly stock level data from Poland and the sample period is 2004-2013. In order to examine the profitability of … analysts' reports, we build market-neutral portfolios and test their performance against CAPM, Fama-French three-factor and …

Persistent link: https://www.econbiz.de/10013033604

The impact of trading liquidity on the rate of return on emerging markets : the example of Poland and the Baltic countries

Gniadkowska-Szymańska, Agata - In: E-Finanse : finansowy kwartalnik internetowy 13 (2017) 4, pp. 136-148

Each type of investment has its own liquidity, i.e. the speed with which it can be converted into money. This can be seen with respect to various instruments (such as stocks or futures contracts), market segments, or even entire exchanges. The importance of liquidity has been acknowledged for a...

Persistent link: https://www.econbiz.de/10011900049

Stock liquidity and corporate cash holdings

Nyborg, Kjell G.; Wang, Zexi - 2013

We advance the feedback/cash as ammunition hypothesis, namely that firms hold cash to address feedback from stock prices to cash ows and growth opportunities. Firms with more liquid stocks are expected to hold more cash, the opposite of the prediction from a standard information asymmetry...

Persistent link: https://www.econbiz.de/10010256421

Fixed Income Valuation in the Equity Market : Evidence from the Canadian Income Trust Sector

Glew, Ian - 2012

Investor response to changes in income trust payouts is measured through the implied cost of capital, an inverse valuation metric. Income trust securities are purchased primarily for the income stream: distributions from dividends, return of capital and interest, so adverse responses to...

Persistent link: https://www.econbiz.de/10013108217

The Overseas Listing Puzzle : Post-IPO Performance of Chinese Stocks and ADRs in the U.S. Market

Luo, Yongli - 2014

The “China concepts stock” in the U.S. has attracted a great deal of attention among international investors due to the fast growth in Chinese economy. This paper examines the aftermarket performance and the motivations to list in the U.S. for Chinese firms over 1993-2010 by considering the...

Persistent link: https://www.econbiz.de/10013065928

Asset Liquidity and Stock Liquidity : International Evidence

Charoenwong, Charlie - 2013

This study examines the relation between asset liquidity and stock liquidity across 47 countries. In support of the valuation uncertainty hypothesis, we find that firms with greater asset liquidity on average have higher stock liquidity. More importantly, our study shows that asset liquidity...

Persistent link: https://www.econbiz.de/10013071686

Stock Liquidity and the Pricing of Earnings : A Comparison of China's Floating and Non-Floating Shares

Lou, Fang - 2013

The reform to convert non-floating shares to floating in China provides a setting in which shares are subject to different liquidity constraint. We show that the severity of this constraint is inversely related to the extent to which earnings information is reflected in the share prices....

Persistent link: https://www.econbiz.de/10013074963