this study empirically investigates the relationship between the timeliness of the financial reporting and the corporate governance proxies for companies listed on the tunisian stock exchange during 2009.it investigates the role of the corporate governance mechanisms on the timeliness of corporate financial reporting besides; it investigates the relationship between the company size, leverage, ...

This paper examines the relationship between the stock crash risk of REITs and different types of institutional investors. First, when we classify REIT institutional investors by their legal type, we find that the ownership of pension funds (bank trusts) is negatively (positively) related to REIT crash risk. In addition, the trading of investment companies, including mutual funds, has become po...

This paper examined the factors that affect investor herd behavior. Herd behavior bias is a well- known phenomenon in financial markets which individuals blindly follow investing decisions of others without understanding fundamental principles investment. While extensive research has explored markets, there remains significant gap herding at level individual investors. Previous studies have pri...

We study a standard consumption based asset pricing model with rational investors who entertain subjective prior beliefs about price behavior. Optimal behavior then dictates that investors learn about price behavior from past price observations. We show that this imparts momentum and mean reversion into the equilibrium behavior of the price dividend ratio, similar to what can be observed in the...

We study brokerage account data from China to study investing behavior and trading performance in an emerging market. Chinese stock markets are new, so we assume that Chinese investors are less experienced about investing as compared to investors from more capitalistic oriented societies. We find that Chinese investors exhibit behavioral biases (i.e., they seem overconfident, inclined toward a ...