Purpose – The purpose of this paper is to test the hypothesis that savers may be substituting equity capital gains from stockholdings for traditional measures of personal saving. The analysis also aims to investigate dividend yield (DY) as a signal to investors about corporate saving rates...

Purpose – The purpose of this paper is to empirically examine the relation between financial leverage and investment opportunities of Chinese industrial firms, which operate in a vastly different financial environment than USA and Japanese firms. Design/methodology/approach – Multivariate...

Purpose – The purpose of this paper is to examine whether the choice of underwriters, venture capital (VC) support, industry and their interactions have any impact on the long‐term performance of initial public offerings (IPOs). Design/methodology/approach – Using standard event study...

Purpose – The purpose of this paper is to examine the informational asymmetry (informational advantage of managers) in leveraged buyout (LBO) transactions. Design/methodology/approach – Unlike previous studies of informational asymmetry in LBOs, this research uses a set of reverse‐LBO and...

Purpose – Given the size and growing importance of socially responsible (SR)‐related funds and investments, the purpose of this paper is to see if those who invest in socially responsible investments (SRIs) conform to a particular profile and if that profile is significantly different than...

Purpose – The purpose of this paper is to examine the contemporaneous relationship between changes in corporate reputations and stock prices. Design/methodology/approach – The Harris Interactive Reputation Quotient TM is used as a measure of corporate reputation. Stock return and risk...

Purpose – The purpose of this paper is to find out whether investors tend to reward firms that resist the urge to borrow and operated with debt free balance sheet and penalize firms that have high levels of debt. Design/methodology/approach – The performance of portfolios of debt free firms...

Purpose – This study aims to examine the market returns of the Ukrainian stock and bond markets to determine whether they exhibit calendar anomalies including the January effect, weekend effect, and turn‐of‐the‐month (TOM) effect. Ukraine provides an opportunity to examine the efficiency...