We compare the Standard Industry Classification (SIC), the North American Industry Classification System (NAICS) and the Global Industry Classification Standard (GICS) schemes in their effectiveness to group stocks with similar operating characteristics. We are the first to analyse and compare...

Purpose – Motivated by recent studies that demonstrate the superiority of the Global Industry Classification System (GICS) relative to the Standard Industry Classification (SIC) system in capital market research, the authors revisit the stock market anomaly documented by Thomas and Zhang (TZ)...

We compare different industry concentration ratios based on the Standard Industry Classification (SIC) system to ratios based on the Global Industry Classification Standard (GICS) system and demonstrate through the analysis of industry markups that GICS-based measures are better proxies for the...

Purpose The purpose of this paper is to establish the optimal decision-making style in a fast-paced, complex, and dynamic environment. Design/methodology/approach Three decision-making attributes are explored: the use of intuition vs analysis, the proclivity to heuristics, and susceptibility to...