U.K. firms that cut or omit interim dividends during the period 1986-1993 are studied. Price reactions to cuts and omissions were found to be significantly negative and stronger for initial reductions. Gearing, company size and interim earnings change variables were found to have explanatory...

Rights offerings in Australia provide valuable choices to the issuer in terms of both underwriting and renounceability. We formulate a set of hypotheses from a quality-signalling perspective, affording an analysis of the key interrelations between quality, underwriting status, renounceability,...

The article examines the presence of herd behaviour in the emerging Indian stock market. Using daily data of S&P CNX Nifty 50 index of the National Stock Exchange over 1997–2012 and by employing Kalman filter, we investigate for the presence of herding. The article finds that the...

The lead/lag relationship between large and small cap firms is investigated by using a number of Indian equity index series that differ in their market capitalisation characteristics. Large cap indices are found to lead small cap indices and to have higher speeds of adjustment towards intrinsic...

This paper evaluates the performance of the Indian banking sector during the post transition period (1997-2005). The productive performance, scale elasticity, efficiency and capacity utilization parameters are calculated using Data Envelopment Analysis (DEA). The empirical results calibrated...

This paper attempts to examine, using data envelopment analysis, the productivity performance trends of the Indian commercial banks for the period: 1997-98 - 2004-05. Our broad empirical findings are indicative in many ways. First, the increasing average annual trends in technical efficiency for...