This study examines the relationship between outside directors’ equity-based compensation (DEC) and stock price crash …

Recent survey evidence suggests that investors form beliefs about future stock returns by predominantly extrapolating … years and consequently expect high (low) stock market returns when they observe bullish (bearish) markets in their lifespan … simulating artificial stock markets in which mean-variance optimizing investors have heterogeneous beliefs about future capital …

Purpose Despite the growing recognition of the complex interplay between macroeconomic shock indexes and stock market … African stock market. This leaves much to be desired, given that the financial market in Africa is arguably one of the most … and stock market returns remains largely unexplored. This study happens to be the first to consider the impact of each of …