How do stocks in BRICS co-move with real estate stocks?

Are Stocks Overtaking Real Estate in Household Portfolios?

A recent Newsweek article entitled “Why We’re Married to the Market” observed: “Seldom, if ever, has Main Street been so enthralled with Wall Street. We have become a nation of stock junkies—splurging on mutual funds, scouring market tables, and studying personal-finance columns” (Samuelson 1998). Journalists, policymakers, and observers from all walks of life have been taking note of the incre...

Do Investors Value Dividend-Smoothing Stocks Differently?

It is almost an article of faith that managers have a preference for smooth dividends. Yet, it is not clear if this reflects investors’ preferences. In this paper, we study whether investors indeed value dividend smoothing stocks differently by exploring the implications of dividend smoothing for firms’ stock prices and cost of capital. Using over 80 years of data, we find no robust relationshi...

Do Hedge Funds Outperform Stocks and Bonds?

H funds’ extensive use of derivatives, short selling, and leverage and their dynamic trading strategies create significant nonnormalities in their return distributions. Hence, the traditional performance measures fail to provide an accurate characterization of the relative strength of hedge fund portfolios. This paper uses the utility-based nonparametric and parametric performance measures to d...

Do Speculative Stocks Lower Prices and Increase Volatility of Value Stocks ?

DRAFT February 12, 5 pm (Choose " print layout view " in Word) The influence of speculative stocks on value stocks is examined through a set of economics experiments. The speculative asset is designed to model a company involved in a rapidly growing market that will be saturated at some unknown point. Using a control experiment where both assets are similar value stocks, we find statistical sup...

Do Stocks Hedge Inflation? Vietnamese and Thai Evidence