this paper examines the relationship between accounting conservatism and informational content of earnings using data of 167 firms listed on the tehran stock exchange during 2004-2013. accounting conservatism is measured based on khan and watts' (2009) model and feltham and ohlsson (1995) price model and easton and hariss (1991) return models were used to evaluate the informational content...

in this study, we focused on tehran stock exchange market analysis based on applying moving average rules. the tehran stock exchange in the middle east has evolved into an exciting and growing marketplace where individual and institutional investor trade securities of over 420 companies. in an attempt to examine the ability to earn excess return by exploiting moving average rules, the average a...

This paper assesses the influence of hosting major international sporting competitions on host countries’ stock market performance before and after announcement such events. Specifically, this study explores whether markets countries experience cumulative average abnormal return (CAAR) during aforementioned period. For purposes investigation, considers announcements 18th Asian Games 30th Southe...

Using a new dataset which contains monthly data on 1,015 stocks traded on the London Stock Exchange between 1825 and 1870, we investigate the cross section of stock returns in this early capital market. Unique features of this market allow us to evaluate the veracity of several popular explanations of asset pricing behavior. Using portfolio analysis and Fama-MacBeth regressions, we find that st...

Purpose: This study aims to determine the effect of acquisition company's managerial ability on performance after mergers and acquisitions. CEO overconfidence was added as a moderating in this study. The sample data include companies listed IDX that carried out corporate actions 2014-2018 period. Methodology: sampling technique used is purposive sampling, analysis method SPSS Smart PLS applicat...

The anomalies literature in capital markets research in finance and accounting is based (almost) exclusively on average realized returns. In contrast, we construct accountingbased expected returns for dollar-neutral long-short trading strategies formed on a wide array of anomaly variables, including book to market, size, composite issuance, net stock issues, abnormal investment, asset growth, i...

T study documents that the abnormal stock returns are negative before unscheduled executive option awards and positive afterward. The return pattern has intensified over time, suggesting that executives have gradually become more effective at timing awards to their advantage, and possibly explaining why the results in this study differ from those in past studies. Moreover, I document that the p...

We study the effect of foreign fund flows on asset prices by investigating the link between foreign institutional investor (FII) flows and stock returns in India. Stocks experiencing high innovations in order flow are associated with a permanent price increase, whereas stocks experiencing low innovations are associated with a partly-transient price decline. The differential abnormal return betw...

I develop an analytically tractable dynamic asset pricing model to study expected returns of financially distressed firms in the presence of learning and investor activism. Learning critically affects distressed stocks’ valuations and risk exposures as information about solvency is essential for firm survival in distress. Informational externalities from active investors thus can also have firs...

Who gains from inter-corporate credit? To answer this question we measure the impact of the announcements of inter-corporate loans in China on the stock prices of the firms involved. We find that the average abnormal return for the issuers of inter-corporate loans is significantly negative, whereas it is positive for the receivers. Issuing firms may be perceived by investors to have run out of ...