Purpose – This paper aims to contribute the existing finance literature by examining whether the ratings of Morningstar in Australia provide useful information for an investor by way of investigating the efficiency of domestic Australian equity funds that received a rating as at November 2005....

When analyzing relative performance, especially at the institutional level, the traditional data envelopment analysis (DEA) models do not recognize vastly different and important activities as separate functions and therefore cannot identify which function may be the main source of inefficiency....

Using an additive super-efficiency data envelopment analysis (DEA) model, this paper develops a new assessment index based on two frontiers for predicting corporate failure and success. The proposed approach is applied to a random sample of 1001 firms, which is composed of 50 large US bankrupt...

This paper proposes data envelopment analysis (DEA) as a quick-and-easy tool for assessing corporate bankruptcy. DEA is a non-parametric method that measures weight estimates (not parameter estimates) of a classification function for separating default and non-default firms. Using a recent...

Estimate bias and “no-sales” are investigated in the context of Latin American Art auctions conducted in New York between 1977 and 1996. We find that, using a new method for calculating bias, both Sotheby's and Christie's overestimated art (oil-on-canvas pieces) by 2.7 percent. The inclusion...

Given the increasing importance attached to both corporate social responsibility (CSR) and corporate governance, this study investigates the association between these two complimentary mechanisms used by companies to enhance relations with stakeholders. Consistent with both legitimacy and...

In 1972 the Australian Federal Government partially relaxed exchange controls prohibiting overseas portfolio investment by Australian investors. The purpose of this paper is to examine the benefits which might have accrued to Australian investors over the period 1970 to 1977 had they been able...

Results of many previous studies on the rate of small business failure suggest an inverse relationship between size of business and propensity to fail. However, it has been suggested that this inverse relationship, between firm size and the rate of discontinuance, may more accurately be...