Online share trading is no longer restricted to expert brokers; there is a diverse population of traders with varying abilities and experience. Decision making in this context can be sub-optimal and risky. This study investigates how performance varies with level of cognitive ability and speed...

This paper focuses on the explanatory power of world influences, regional effects and political risk indices on the equity market returns for a selection of Asia Pacific countries. The results support the notion that emerging equity market returns are driven by both regional and global factors....

This paper examines the link between current-quarter cash flows and both past performance and past cash flows using a sample of Australian retail superannuation fund data (managed growth and managed stable) drawn from the period 1994 to 2000. This is a rapidly growing sector within the...

This paper examines the relationship between the size of a target and the market's reaction to the announcement of a takeover offer. Using the constrained (0,1) market model to estimate abnormal returns, results from a sample of takeovers from 1984-88 indicate size effects for takeover targets...

Cross contract regression analysis provides a framework for testing the statistical fit of the cost of carry model in the financial futures contracts, the 90â€Day Bank Accepted Bill Futures contract and the Australian All Ordinaries Share Price Index Futures contract. The interest rate to...

The study covers the period 16/3/83 to 31/12/87, using daily futures prices to provide descriptive statistics and statistical tests for a random walk. The study period falls naturally into two periods, the pre-crash and period including the 1987 crash. The random walk hypothesis provides a...

Tests for active management inevitably focus on long periods. Yet, implicit in these tests is the assumption that active management generates a stable excess return. We argue that this assumption is not appropriate for active management where the emphasis is on identifying profitable trading...

The shares of BP plc and its subcontractors were rocked when the financial markets discovered the true impact of the Deepwater Horizon explosion as reported in the Wall Street Journal on 22 April 2010. While we track the impact of the disaster on share prices of the key participants, perhaps the...

Sovereign wealth funds (SWFs) are investment portfolios and savings funds that are controlled and actively managed by a sovereign government. In this paper, we document the investment behaviour of a specific fund, Temasek Holdings, which is the Singapore government’s SWF. Using a sample...