The Halloween effect refers to a calendar anomaly that can be easily exploited and calls for buying the market index in the end of October each year and switching to treasury bills at the end of April the following year. The effect has only been studied on a 'calendar-month' basis and primarily...

Utilising data for the Greek equity fund market, we empirically investigate the presence of persistence in performance. Persistence is defined as a phenomenon where relative (ranked) performance tends to repeat across successive time intervals. We apply various tests to a set of performance...

Utilising data for the Greek equity fund market, we empirically investigate the presence of persistence in performance. Persistence is defined as a phenomenon where relative (ranked) performance tends to repeat across successive time intervals. We apply various tests to a set of performance...

Banks provide credit to large firms either to finance large firms’ investment projects with positive net present values or to lend out SMEs indirectly through the expansion of trade credit by large firms which have Access to bank credit. The aim of the current article is twofold: to provide...

Bank firms try to improve their efficiency by offering credit to large firms which extent trade credit to those firms that are blocked from bank credit or faces high possibilities to not pay back their loans. This self-discipline helps banks to become more prudent when they lend risky firms such...

We examine the impact of economic news releases on returns, volatility and jumps of the stock and foreign exchange markets of South Africa. We also assess the impact of macroeconomic determinants. The dataset range is fifteen years covering the period from January, 2000 to December, 2014....