Employing earnings shortfall as a financial distress indicator, we formulate a dynamic nonlinear model, implementing Wooldridge's conditional maximum likelihood estimator and accounting for potentially endogenous covariates. Likewise, we not only achieve a significant improvement in consistency...

Purpose: This paper presents an integrated overview of the empirical literature on the impact of all forms of unconventional monetary policy on macroeconomic variables and on markets. Design/methodology/approach: This survey covers the findings concerning portfolio rebalancing, signaling,...

Purpose: The purpose of this paper is to examine two novel theories that concern the relationship between stock market development (SMD) and foreign direct investment (FDI). The authors focus on Greece that was demoted to the emerging market category in 2013–2014 in the international lists....

Purpose – The purpose of this paper is to present an innovative model to evaluate the fair price of a subset of structured products for a hypothetical US structured bond. Design/methodology/approach – The authors assume that interest rates dynamics are described by the Cox–Ingersoll–Ross...

Purpose – To investigate whether acquiring firms listed in the Athens Stock Exchange, that completed mergers and acquisitions during the period 2001‐2003, tend to manipulate accounting earnings upward prior to the initiation and completion of the transaction. Design/methodology/approach –...

Purpose – The purpose of this paper is to consider the impact of the drachma's replacement by the euro on the quality of accounting information published by Greek listed firms. Design/methodology/approach – The authors examined how the adoption of the euro currency impacted on the timeliness...

We studied empirically American no-load equity mutual funds that invest in European stocks and keep their managers for more than three years, in order to investigate the persistence of the short-term performance, and the related investment style. The results showed an underperformance compared...

This paper uses spectral analysis to examine interrelationships between the daily returns generated by one US (S&P 500) and three major European (FTSE 100, DAX 30, CAC 40) share price indices. Evidence is found of strong interdependence between the European returns series, as well as a lead-lag...

<title/> SIRIOPOULOS C. and ASTERIOU D. (1998) Testing for convergence across the Greek regions, <italic>Reg. Studies</italic> 32, 537-546. During the last five years, few issues have proved more controversial in empirical economics than the so-called convergence hypothesis. This paper examines the issue of convergence...