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In this paper we investigate the relation of the anomalies on accruals and net stock issues with the value/glamour anomaly. Our findings reveal, that hedge strategies on retained earnings, total accruals, net operating assets (accrual proxies), cash distributions to equity holders (net stock...
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We investigate the behavior of consumer confidence around national elections in the EU-15 coun- tries during 1985:1-2007:3. Consumer con¯dence increases before the date of elections and falls subsequently by almost the same amount. It is able to predict the strength of the performance of the...
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This is the first paper to examine international monetary surprise spillovers and to estimate the response of security prices to monetary and nonmonetary surprises. Monetary surprises have a slope effect on the domestic yield curve--short maturity yields adjust much more than longer maturity...
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