In this paper we examine unanticipated outliers of stock market. Weather these outliers are truly Black Swans that can not be anticipated or they are avoidable? Also we try to evolve a quantitative strategy to earn superior returns. The simple strategy not only removes outliers from portfolio...

In this paper we examine correlation and mean reverting behavior of Dow Jones Industrial Average, with ten stock markets from Asia, Europe and America. Along with correlation test, Augmented Dickey Fuller Test is conducted to test the mean reverting behavior of time series. We found that all the...

A curious seasonality reported in finance is the monthly effect which implies that the mean daily return for stock is positive and higher during the first half of the month than the second half. Another related anomaly is the turn of the month effect which is said to exist when the average daily...

Seasonal variation and calendar anomalies are known phenomena in equity markets worldwide. Many researchers have studied day-of-the-month, day-of-the-week, month-of-the-year, tax loss hypothesis and SAD cycle in equity markets across countries. There has been many evidences of calendar anomalies...

Working capital management is important part in firm's financial management decision. An optimal working capital management is expected to contribute positively to the creation of firm value. To reach optimal working capital management, the firm manager should control the trade-off between...

The intense concentration process taking place in the financial system across the world has attracted substantial attention from stakeholders and academicians. The impact of M&A on value creation and efficiency/effectiveness improvements of companies involved appears to be on the whole,...

In this paper we examine the impact of workforce reduction on success or failure of corporate restructuring. Reduction in Contractual labor and Exempt workforce is studied with time horizon from restructuring event. Also, the percentage reduction and its impact on success or failure is studied....

Behavioral finance is a field in economics that has in recent times become a subject of significant attention to investors. This paper provides a general discussion of behavioral Finance .In this paper, a survey is made between two different groups of investors. This paper shows how we act or...

The objective of this paper is to study, why organizations take the inorganic mode of expansion. However, the main focus is on studying the operating performance and shareholder value of acquiring companies and comparing their performance before and after the merger. To conduct a uniform...

With the global economic turmoil and the added uncertainty that has ushered in the Indian regulatory scenario since the beginning of the year 2012, it was only obvious for the total number of M&A transactions in the first half of 2012 slipping down as compared to 2010 and 2011. Having said that,...