In this paper, we compare the financial characteristics of Hong Kong and Singapore manufacturing firms with the MANOVA (Multivariate Analysis of Variance) technique. Our findings indicate that the liquidity, accounts receivable turnover, inventory turnover, total assets turnover, and equity...

The capital budgeting decision is one of the most important financial decisions in business firms. In this case, Variety Enterprises Corporation (VEC) is considering whether to invest in a new production system. To determine if the project is profitable, VEC must first determine the weighted...

We study investor overreaction using data for five major stock market crashes during the 1987-2008 period. We find some evidence of investor overreaction in all five stock market crashes. The prices of stocks investors bid down more than the average during crashes tend to increase more than the...

This article studies the changes in the co-movements of the twelve largest European equity markets after the 1987 international equity market crash. Tests based on Box M and principal component analysis indicate that the co-movements of these equity markets changed significantly after the crash....

Market reaction to mergers and acquisitions is a popular research topic in finance. It has been well documented in empirical literature that target companies earn significant abnormal market returns in corporate acquisitions. However, the effects of stock market crashes, and the effects of...

The number of cross-border mergers and acquisitions has increased considerably after the 2007-2008 financial crisis. However, the post-crisis M&A market has not been studied sufficiently. In this paper, we compare the financial characteristics of the U.S. companies acquired by foreign companies...

Do investors reward green companies by paying a higher than the equilibrium price indicated by the capital-asset pricing models? Or do they penalize green companies by paying a less than the equilibrium price because going green and keeping green is costly and reduces company profits? In this...

We study investor overreaction using data for five major stock market crashes during the 1987-2008 period. We find some evidence of investor overreaction in all five stock market crashes. The prices of stocks investors bid down more than the average during crashes tend to increase more than the...

During the October 9, 2007-March 9, 2009 period, the U.S. stock market experienced the worst bear market in its history since the Great Depression. Empirical studies show that exchange-traded country index funds can provide portfolio diversification benefits to investors in bull markets....

The 2008 crash was the most important global stock market crash in history since the Great Depression. In this paper, we study the contemporaneous co-movements of and the time-series lead/lag linkages between global stock markets after the 2008 stock market crash by using the time-varying...