With regards to determining whether herding is spontaneous and irrational behavior causing the Day-of-the-week anomaly, this paper intersects the Christie and Huang (1995) herd behaviour model with French's (1980) Day-of-the-week model in several layers of tests. We use firm-level data and...

This paper investigates the approach of small- to medium-sized Mauritian manufacturing firms to working capital finance using a survey-based approach and case studies. Financing has been cited as one of the most common problems faced by SMEs and is often viewed as one of their main barriers to...

This paper examines calendar anomalies, in particular, the monthly effect in the international wine exchange market. The empirical findings suggest that there is a March effect for the Liv-ex Fine Wine 500 Index, a May effect for the Liv-ex Fine Wine 100 Index and the Liv-ex Claret Chip Index...

We examine the association between the extent of change in key performance indicator (KPI) disclosures and the accuracy of forecasts made by analysts. KPIs are regarded as improving both the transparency and relevancy of public financial information. The results of using linear regression models...

This paper examines co-integration and spillover effects between U.S. and Asia-Pacific stock markets using nine Exchange Traded Funds (ETFs) over the period from 7 January 2004 to 30 September 2010, with sub-samples of before and after the 2007–2008 global financial crisis. The nine ETFs...

This paper explores the mean reversion behaviour of three Japanese real exchange rates during January 1980–January 2010. The CPI- and PPI-based real yen/USD rates and real effective yen rates are examined using newly improved unit root tests allowing for endogenous break(s) in the linear and...

This study examines the relationship between corporate governance and audit fees during the period before and after the enactment of the Malaysian Code of Corporate Governance (MCCG). Our panel analysis of 379 firms during the 1999–2002 period reveals a significant and positive...

This paper aims to close one of the most persistent gaps in international business (IB) and strategic management (SM) research by advocating a systematic extension of our research perspective to a more finance-based "liabilities' approach". As such, it responds to the recent work of prominent...

We investigate the stock market overreaction in Bursa Malaysia from January 2000 to October 2010 using weekly data. We find that winner portfolios tend to have negative returns whereas loser portfolios have positive returns for various holding periods from 1 to 52 weeks. Loser stocks experience...

This study investigates the cross-sectional variation in leverage among publicly listed Government Linked Companies (GLCs) and non-GLCs (NGLCs) in Malaysia for the period from 1997 to 2008. The study uses balanced panel data with multivariate regression as the method of analysis. Results reveal...