In the 1990s, the importance of international rating agencies became more pronounced among stakeholders who were interested in screening companies based on specific financial criteria. Now with a focus on sustainability, stakeholders are interested in screening companies on both financial and...

We examine the practices of various international rating agencies and develop a framework based on the auditor independence model to examine the acceptability of various rating agency methodologies. Rating agencies methodologies are classified as solicited, unsolicited or co-operative depending...

We investigate the specification and power of intraday event study test statistics. Both the mean and market models generate well-specified return results for one- to thirty- minute intervals. Moreover, they detect return shocks equivalent to one spread in one- and five-minute interval data and...

We consider the effectiveness of trailing stop-loss rules which, unlike traditional stop-loss rules, involve the sell trigger price being moved higher to protect profits as prices rise. Our results indicate that while these rules have inferior mean returns to a simple buy-and-hold strategy, they...

Frontier markets, sometimes referred to as “emerging emerging markets,” have high transaction costs so investors who rebalance their portfolios monthly do not receive diversification benefits. However, diversification gains can be achieved by investors rebalancing every three months or...