Purpose – The purpose of this paper is to extend the literature on earnings management by examining whether stock dividends provide management with an incentive to manipulate earnings. Design/methodology/approach – This paper employs a refined accrual model that controls the performance...

Purpose – The purpose of this paper is to examine whether managers deliberately use accruals to convey information regarding firm future profitability. Design/methodology/approach – The paper uses contemporaneous earnings and dividend increase announcements in New Zealand as the research...

Purpose – The purpose of this paper is to estimate New Zealand's country level risk using a time‐varying country beta market model. Country beta is allowed to vary as a function of several macro‐economic variables, including the net government overseas borrowing, 90‐day bill rate,...

Purpose – The purpose of this paper is to investigate price discovery for cross-listed stocks on the New Zealand Exchange (NZX) and the Australian Stock Exchange (ASX) and find out the determinants of price discovery between the two markets. Design/methodology/approach – Gonzalo Granger...

Purpose The aim of this study is to examine the tracking performance and tracking error (TE) of New Zealand exchange traded fsunds (ETFs). Design/methodology/approach The authors use regression methods and cointegration analysis to examine tracking performance. Multivariate regressions are used...

Purpose – The aim of this paper is to construct a historical index for the New Zealand stock markets going back to 1899. From these historical returns, the authors can extract the average capital gains and dividend yield. It also allows them to provide an estimate for the equity risk premium...