Purpose: Corporate governance is a crucial factor when considering excessive corporate risk-taking. Since corporate boards play such an important role in corporate governance, the purpose of this paper is to empirically examine the impact of board composition and further board characteristics...

Many empirical studies have found that patterns in stock index returns are seasonally related, which is contrary to the weak form of the Efficient Market Hypothesis (EMH). This article takes a closer look at the Turn-Of-the-Month Effect (TOME) and its economic relevance. By scrutinizing the...

Purpose – This paper aims to provide an overview of the literature to point out similarities and differences among private ethical investors across countries and time. Over the past three decades, many surveys have been conducted to advance the understanding of the demographic characteristics,...

In past decades, many empirical studies revealed return anomalies in many different asset classes and markets. Very recent publications have, however, even found evidence that stock markets react to the results of soccer matches. In this article, we argue that such empirical studies should be...