Efficiency and stock returns: evidence from the insurance industry
نویسندگان
چکیده
منابع مشابه
Efficiency and stock returns: Evidence from the insurance industry
This study investigates whether the capital market values the efficiency of firms. After tracing stock returns and efficiency changes of 399 listed insurance firms in 52 countries during the 2002-2008 period, the paper reports a positive and statistically significant relationship between profit efficiency change and market adjusted stock returns. However, there is no robust evidence that cost e...
متن کاملInvestigating the Effect of Investors' Behavior and Management on the Stock Returns: Evidence from Iran
The purpose of the present study is to investigate the effect of behavioral variables on overconfidence in management, herding behavior and investors' emotional tendency on stock return. To this end, by using the data of firms listed in the Iran's Stock Exchange during the seven-year period of 2010-2016, overconfidence index in management, the herding behavior of the investors and the emotional...
متن کاملPetrochemical Products Market and Stock Market Returns: Empirical Evidence from Tehran Stock Exchange
While the relationship between stock market return and oil price is of great interest to researchers, previous studies do not investigate stock market return with petrochemical products market. In this paper, we analyzed the relationship between prices of main petrochemical products and stock returns of petrochemical companies in Tehran stock exchange. Using a panel data model and GLS estimatio...
متن کاملAnalyzing the Impact of Credit Ratings on Firm Performance and Stock Returns: Evidence from Taiwan
The respective study covers three aspects; factors determining credit rating, credit rating impact on performance of entities and the relation between stock returns and credit rating. The study focuses on the firms listed in Taiwan Stock Exchange (TSE) of Taiwan. The empirical analysis uses the data of 50 firms rated by Taiwan Ratings Corporation (TRC) for the period 2010-2015. Two estimation t...
متن کاملIndustry Concentration and Average Stock Returns∗
This paper shows that differences in industry concentration help explain the crosssection of average stock returns. Firms in concentrated industries earn lower returns, even after controlling for size, book-to-market and momentum. The premium for industry concentration exhibits systematic business cycle variation. In addition, the premium on book-to-market is higher in more concentrated industr...
متن کاملذخیره در منابع من
با ذخیره ی این منبع در منابع من، دسترسی به آن را برای استفاده های بعدی آسان تر کنید
ژورنال
عنوان ژورنال: Journal of Productivity Analysis
سال: 2013
ISSN: 0895-562X,1573-0441
DOI: 10.1007/s11123-013-0347-x