Momentum Profits and Idiosyncratic Volatility: The Korean Evidence
AbstractPurpose - This study focuses on the profitability of momentum trading in the Korean stock market. More specifically, an examination of the relationship between momentum returns and...
View ArticleExcess Volatility and Closed-End Fund Discounts
AbstractPurpose - To examine the conditions under which discount risk leads to closed-end funds trading at a discount. Design/methodology/approach - A model of investor portfolio choice is developed in...
View Article'6 and 1' option exchanges and stockholder wealth
AbstractPurpose - Purpose – Firms will at times replace employee holdings of out-of-the-money stock options with new ones that have lower exercise prices. This paper examines how stockholders view such...
View ArticleCustomer Value Disclosure and Cost of Equity Capital
AbstractPurpose - This paper examines the association between a firm’s extent and precision of customer value disclosure and its implied cost of equity capital. In addition, we investigate whether...
View ArticleGoodwill Accounting and Asymmetric Timeliness of Earnings
AbstractPurpose - This paper investigates how fair value reporting and increased managerial discretion under the new goodwill accounting affect the asymmetric timeliness of earnings; i.e., accounting...
View ArticleMomentum profits and idiosyncratic volatility: the Korean evidence
AbstractPurpose– This study aims to focus on the profitability of momentum trading in the Korean stock market. More specifically, it aims to conduct an examination of the relationship between momentum...
View ArticleExcess volatility and closed-end fund discounts
AbstractPurpose– The purpose of this paper is to examine the conditions under which discount risk leads to closed-end funds trading at a discount. Design/methodology/approach– A model of investor...
View Article“6 and 1” option exchanges and stockholder wealth
AbstractPurpose– Firms will, at times, replace employee holdings of out-of-the-money stock options with new ones that have lower exercise prices. This paper seeks to examine how stockholders view such...
View ArticleCustomer value disclosure and cost of equity capital
AbstractPurpose– This paper seeks to examine the association between a firm's extent and precision of customer value disclosure and its implied cost of equity capital. In addition, it aims to...
View ArticleGoodwill accounting and asymmetric timeliness of earnings
AbstractPurpose– The purpose of this paper is to investigate how fair value reporting and increased managerial discretion under the new goodwill accounting affect the asymmetric timeliness of...
View ArticleMarket Assessment of Intangibles and Voluntary Disclosure about Innovation:...
AbstractPurpose - This study investigates the incidence of IFRS on stock market assessment of intangibles and voluntary disclosure about innovation. Design/methodology/approach - Three regression...
View ArticleCost of Equity Capital of Foreign Firms: Did Bonding Benefits Diminish after...
AbstractPurpose - This study examines the cost of equity capital for foreign firms listed in the U.S stock exchanges during 2004–2009, a period that the SEC has shifted from requiring foreign issuers...
View ArticleCEO Compensation and Firm Performance: Evidence from the U.S. Property...
AbstractPurpose - This paper examines the relation between chief executive officer (CEO) compensation and firm performance proxied by efficiency estimated from data envelopment analysis (DEA) of the US...
View ArticleValue relevance of earnings and cash flows during the global financial crisis
AbstractPurpose - This study examines the incremental value relevance of cash flow from operations (CFO) given book value and earnings. It also examines the relative value relevance of earnings and CFO...
View ArticleACQUIRERS’ PERFORMANCE IN HOT AND COLD MERGER MARKETS: EVIDENCE OF MISPRICING
AbstractPurpose - The primary purpose of this paper is to test the prediction that overpricing drives merger wavesDesign/methodology/approach - We supplement proxies of overpricing from the existing...
View ArticleMarket assessment of intangibles and voluntary disclosure about innovation:...
AbstractPurpose– The purpose of this paper is to investigate the incidence of International Financial Reporting Standard (IFRS) on stock market assessment of intangibles and voluntary disclosure about...
View ArticleCost of equity capital of foreign firms: Did bonding benefits diminish after...
AbstractPurpose– The purpose of this paper is to examine the cost of equity capital for foreign firms listed in the US stock exchanges during 2004-2009, a period that the Securities and Exchange...
View ArticleCEO compensation and firm performance: Evidence from the US property and...
AbstractPurpose– The purpose of this paper is to examine the relation between chief executive officer (CEO) compensation and firm performance proxied by efficiency estimated from data envelopment...
View ArticleValue relevance of earnings and cash flows during the global financial crisis
AbstractPurpose– The purpose of this paper is to investigate the incremental value relevance of cash flow from operations (CFO) given book value and earnings. It also examines the relative value...
View ArticleAcquirers' performance in hot and cold merger markets: evidence of mispricing
AbstractPurpose– The primary purpose of this paper is to test the prediction that overpricing drives merger waves. Design/methodology/approach– The authors supplement proxies of overpricing from the...
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