The notion of long-term memory has received considerable attention in empirical finance. This paper makes two main contributions. First one is, the paper provides evidence of long-term memory dynamics in the equity market of China. An analysis of market patterns in the Chinese market (a typical...

This paper examines the impact of profitability, stock price performance and growth opportunity on the capital structure of firms in Singapore, Taiwan and Hong Kong. In contrast to Kayhan and Titman (2007), it is found that firms in these three Chinese-dominated economies strongly prefer debt to...

Equity analysts who are more accurate in forecasting earnings tend to work at higher quality brokerage houses. This relation is endogenous, making it difficult to infer causality between brokerage house quality and forecast accuracy. We identify the exogenous portion of equity analysts' initial...