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Portfolio and Security Analysis Commons™
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- Bumiputera Corporate Performance; Currency Crisis Impact; Stock Market Analysis; Portfolio Performance Comparison; Market Efficiency Study (1)
- Corporate Governance; Corporate Performance; Public Listed Companies; Investment Patterns; Financial Management (1)
- Day Of The Week Effect; Kuala Lumpur Stock Exchange; Stock Market Anomalies; Firm Size; Economic Conditions (1)
- Dividend Policy Theory; Economic Value Added; Free Cash Flow; Corporate Valuation; Shareholder Value Analysis (1)
- Efficiency (1)
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- Equity (1)
- Index Options (1)
- Land speculation (1)
- Markets (1)
- Mergers and Acquisitions Performance; Non Financial Companies; Shareholder Value Analysis; Profitability Ratios; Capital Gains Evaluation (1)
- Mutual funds (1)
- Real estate investment funds (1)
- Secondary mortgage market (1)
- Shareholder Value Analysis; Corporate Performance; Financial Policy; Growth Opportunities; Kuala Lumpur Stock Exchange (1)
- Unit Trust Performance; Financial Crisis Analysis; Government And Private Funds Comparison; Fund Size Effect; Risk and Return Evaluation (1)
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Articles 1 - 9 of 9
Full-Text Articles in Portfolio and Security Analysis
An Analysis Of The Cross Section Of Returns For Ereits Using A Varying-Risk Beta Model, C. Mitchell Conover, H. Swint Friday, Shelly W. Howton
An Analysis Of The Cross Section Of Returns For Ereits Using A Varying-Risk Beta Model, C. Mitchell Conover, H. Swint Friday, Shelly W. Howton
Finance Faculty Publications
A dual-beta asset pricing model is employed to examine the cross-section of realized equity real estate investment trust (EREIT) returns over bull and bear markets. No significant relationship is found between EREIT returns and a constant beta. However, beta explains cross-sectional returns when betas are allowed to vary across bull markets. This positive relationship exists for both January and non-January months. During bear-market months, no significant relationship is found between REIT betas and returns. But, during such months, size and book-to-market ratio are found to be negatively related to returns.
Evidence Of The Efficiency Of Index Options Markets, Lucy F. Ackert, Yisong S. Tian
Evidence Of The Efficiency Of Index Options Markets, Lucy F. Ackert, Yisong S. Tian
Faculty Articles
Index options have been one of the most successful of the many innovative financial instruments introduced over the last few decades, as their high trading volume indicates. Given their prominence, the pricing efficiency of these markets is of great importance. ; Detecting inefficient pricing, or mispricing, requires comparing a theoretically efficient price with prices of options traded in financial markets. One popular approach to deriving pricing relationships is based on a principle called no-arbitrage, which simply assumes that arbitrageurs enter the market and quickly eliminate mispricing if a profit opportunity without risk exists. However, in a well-functioning economy there is …
Corporate Governance In Selected Public Listed Companies In Malaysia, Sue Lin Lim
Corporate Governance In Selected Public Listed Companies In Malaysia, Sue Lin Lim
Student Works (2000-2009)
During economic boom periods, most shareholders and company regulators paid little attention to good corporate governance, hence the reason for weak corporate governance. This study investigates whether weak corporate governance has significant effects on the corporate performance, investment and financing patterns of selected public listed companies in Malaysia. Previous researches done by Xu and Wang (1997) and Saldana (1999) seem to show that there is a close link between these variables. Based on the regression model formulated in this study, a relationship between weak corporate governance with respect to corporate performance, investment and financing patterns have been established. From the …
Day Of The Week Effect In The Kuala Lumpur Stock Exchange, 1994-1998, Santhi Arasan
Day Of The Week Effect In The Kuala Lumpur Stock Exchange, 1994-1998, Santhi Arasan
Student Works (2000-2009)
This paper investigates whether the day of the week effect anomaly exists in the Kuala Lumpur Stock Exchange (KLSE) over a period of time from 1994 to 1998 using the Exchange Main Board All-Share Index or the EMAS Index, which incorporates all Main Board Companies. The analysis of the day of the week effect during the study period is further explored in relation to firm size and economic conditions. In relation to firm size, this paper investigates whether the day of the week effect is persistent for both large and small firms by comparing the daily mean returns of the …
The Performance Of Bumiputera-Controlled Companies At The Klse, Before And During The Currency Crisis, Nor Azizan Che Embi
The Performance Of Bumiputera-Controlled Companies At The Klse, Before And During The Currency Crisis, Nor Azizan Che Embi
Student Works (2000-2009)
The National Development Policy has successfully achieved their objectives to increase the number of Bumiputera companies that can play an important role in the economy. The number of Bumiputera-controlled companies has increased during the booming period (1995-1996). During this period, many Bumiputera individuals showed their capabilities to handle mega projects in Malaysia. In order to achieve the NDP objectives, many Bumiputera companies stick together and listed in the KLSE. However the Asian countries were hit by currency crisis in the middle of 1997. For almost two and half years, Malaysia experienced a turbulent economy caused by currency crisis. In order …
Economic Value Added : Superior Measurement Of Shareholders' Value, Amalanathan Thomas
Economic Value Added : Superior Measurement Of Shareholders' Value, Amalanathan Thomas
Student Works (2000-2009)
In 1961, Prof. Franco Modigliani and Prof. Merton H. Miller (MM) said in their article Dividend Policy, Growth and The Evaluation of Shares: "To measure corporate performance for market capitalization, companies should consider earnings, cash flows, dividends and investment opportunities as alternatives". Stern Stewart, an advocate of Economic Value Added (EVA) approach to shareholder value understands the issues raised under the MM model which has led him to the view that "free cash flows is cash from operations that is available, attributable to both leaders and shareholders. In other words, it is the cash that is free for distribution to …
Impact Of Corporate Performance And Financial Policies On Shareholder Value In Malaysia, Kuan Hua Quah
Impact Of Corporate Performance And Financial Policies On Shareholder Value In Malaysia, Kuan Hua Quah
Student Works (2000-2009)
This study examines the relationships between firms' shareholder value levels and its corporate performance, financial policies and growth opportunities. A five-year period was used ranging from 1995 to 1999. and involved a total of 106 companies that are listed in the Kuala Lumpur Stock Exchange (KLSE). In attempting to increase knowledge regarding shareholder value issues in Malaysia, a better understanding about the various financial variables that affect shareholder value of companies in Malaysia is expected. Findings show that firms with higher growth opportunities tend to have higher shareholder value levels. The results are more mixed with regard to a company's …
Mergers And Acquistions : A Study On The Performance Of Non-Financial Companies In Malaysia, Maran Marimuthu
Mergers And Acquistions : A Study On The Performance Of Non-Financial Companies In Malaysia, Maran Marimuthu
Student Works (2000-2009)
This study examines the performance of non-financial companies that were involved in merger and acquisition activities between 1990 and 1995. A sample of 60 non-financial companies has been selected which are then split into two main groups; low sales growth companies and high sales growth companies. The objectives of the study are; to examine those companies' performance over the period 1996-1998, to compare their performance with respect to pre-crisis and crisis periods and to assess shareholder value appreciation in comparison between the low sales growth companies and high sales growth companies during their post-acquisition period. Capital gains are used to …
Performance Of Unit Trusts In Malaysia In The Period Of 1995 To 1999, Khing Wee Ong
Performance Of Unit Trusts In Malaysia In The Period Of 1995 To 1999, Khing Wee Ong
Student Works (2000-2009)
Malaysia has experienced one of the Vv'Orst economic and financial crises in the history, in the second half of 1997. Many people are aware on how the crisis affected the share market, but not many know about the effects to the unit trusts industry. This research provides an insight on how the unit trusts in Malaysia have performed during the financial crisis. To make comparisons, the period of the research has been divided into two sub-periods, the first one being prior to the financial crisis (March-95 to June-97) and the second or.e being during the financial crisis (July-97 to November-99). …