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Full-Text Articles in Business
Gfc: Origin, Consequence And Cost, Mohamed Ariff, Ahmed Khalid
Gfc: Origin, Consequence And Cost, Mohamed Ariff, Ahmed Khalid
Ahmed Khalid
No abstract provided.
Women’S Decision Making: A Contextual Assessment, Safdar Khan
Women’S Decision Making: A Contextual Assessment, Safdar Khan
Safdar Khan
No abstract provided.
Momentum Trading In Sector Etfs, Steven Dolvin, Jill Kirby
Momentum Trading In Sector Etfs, Steven Dolvin, Jill Kirby
Steven D. Dolvin
If markets were efficient, then strategies based on past price behavior would be essentially worthless. However, many traders follow investment plans that are designed to exploit momentum, particularly across sectors. This article examines one common, related trading rule: “There’s Always a Bull Market Somewhere.” Under this approach, investors buy (sell) past 12-month winners (losers). Prior studies find a positive abnormal return in the subsequent 12-month period following implementation of this strategy; however, no study examines the impact of such rules on the short-term trading patterns (returns and volume) of related securities. This article fills this gap, finding that ETFs representing …
Firm Value And Investment Policy Around Stock For Stock Mergers, Adel Bino, Elisabeta Pana
Firm Value And Investment Policy Around Stock For Stock Mergers, Adel Bino, Elisabeta Pana
Elisabeta Pana
We study a sample of publicly traded firms that expand by acquiring other firms in pure, stock-for-stock mergers. After these mergers, we find that the diversification premium decreases for the acquiring firm due to having added a target firm trading at a discount. Furthermore, the acquiring firm experiences a decrease in investment opportunities and a decrease in leverage. This is an effect confined only to non-diversifying mergers. Our results indicate that the acquirer’s investment efficiency at the firm level remains unchanged after the merger.