Kamstra et al. [Kamstra, M.J., Kramer, L.A., Levi, M.D., 2000. Losing sleep at the market: the daylight saving anomaly. The American Economic Review 90, 1005-1011] argue that the mean weekend return following the changes in daylight saving time is less than the mean weekend return throughout the...

This note provides an empirical analysis of the potential for heuristic-based approaches to derive a divisional cost of equity from a firm's total cost of capital. Since an empirical relationship between fundamental information and systematic risk has previously been shown in other studies,...

Investors rely increasingly on the internet for their information research, in parallel to the use of traditional news channels. Accordingly, country-specific empirical evidence demonstrates that internet search activity has predictive power over future trading volume of listed stocks. This...

The brewing industry has recently experienced increased merger activity. This paper analyzes the shortterm wealth effects of horizontal mergers and acquisitions on acquirers in the brewing industry. Based on a sample of 69 takeover announcements between 1998 and 2010, significant positive...

The real estate banking industry in Germany has undergone severe changes due to changes in the legal framework, consolidation processes and economic crisis. As one of the results, German banks begin to sell their portfolios of non performing real estate loans. The six relevant transactions in...

It is known from the literature on the psychology of modes of behavior in stock markets that – besides other parameters – moods and emotions as personal influencing factors affect yield expectations and the risk-awareness of market participants. The constructs that may influence moods...

This study analyses the implications that have emanated for non-anonymous floor trading at the Frankfurt stock exchange from the fact that the closing hour of electronic stock trading at the German stock exchange system XETRA has been advanced from 20.00 hrs to 17.30 hrs. effective as of 03...

Wird durch M&A-Transaktionen in der europäischen Bankenindustrie Shareholder Value generiert? Vor dem Hintergrund des beschriebenen scheinbaren Widerspruchs zwischen starker und jüngst erneut zunehmender M&A-Tätigkeit in der Bankenindustrie einerseits und der auf Basis der Forschung...