Purpose: Both short sellers and margin traders believe in active investment. However, they have the opposite opinions about the prediction of future share price direction: while short sellers are those who predict future price declines, investors buying on margin are those who predict future...

Institutional sponsors increasingly seek outside help in investment management by delegating manager selection and capital allocation decisions to external lead managers. Whether this enhances performance, however, is yet to be examined. We fill the gap using a unique dataset of Korean...

Purpose: On the backdrop of the recent value versus growth debate in both academics and investment community, this paper investigates which is a better strategy, value or growth strategy. Design/methodology/approach: Reworking the Euler equation, this paper derives the relationship among return,...

In this paper we investigate whether the terms used in the design of a convertible debt issue act as a signal of the issuing firm's future growth prospects. Our general premise is that convertible debt design terms are interrelated and arranged in a manner that signals asymmetric information to...