Investibility and return volatility
Article Abstract:
The impact of foreign ownership on emerging market securities is studied by examining the relation between a stock's investibility and its return volatility. The results show that the impact of market integration on the stock return volatility is positively related to the degree of investibility of individual stocks even after controlling for country, industry, firm size, and turnover.
Publication Name: Journal of Financial Economics
Subject: Economics
ISSN: 0304-405X
Year: 2004
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Bailout and conglomeration
Article Abstract:
A model of business conglomerates in emerging markets with heavy dependence on bank loans and weak institutions, including weak banks whose capacity to access corporate profitability is less developed is presented. This model generates a number of testable predictions for the emerging market corporate finance.
Publication Name: Journal of Financial Economics
Subject: Economics
ISSN: 0304-405X
Year: 2004
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Stock returns, aggregate earnings surprises, and behavioral finance
Article Abstract:
A study is conducted to analyze the impact of firm's aggregate earnings news on the stock market performance.
Publication Name: Journal of Financial Economics
Subject: Economics
ISSN: 0304-405X
Year: 2006
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