I hypothesize that post-event price behavior following large one-day price shocks is related
to pre-event price and firm fundamental characteristics, and that these characteristics proxy …

The ‘other’ January effect posits that when January's stock returns are positive (negative),
the remaining 11 months of the year tend to be positive (negative) as well. While no …

Many papers in the academic literature have documented a “Presidential Election” cycle in
stock returns. Prior literature also documents that stock returns appear to be influenced by …

Technical analysis has always been a controversial topic with weak evidence in the literature
while behavioral finance has enjoyed success. Yet the objective of technical analysis is to …

Market efficiency is generally accepted in the academic community even though it cannot
fully describe reality. Primarily due to noise, prices merely reflect beliefs about a firm’s …

This article examines the volatility dynamics of the mainland Chinese stock markets (Shanghai
A- and B-shares, Shenzhen A- and B-shares, H-shares, and red chips) by employing the …

Recent studies have presented evidence suggesting that firms’ hedging decisions are
influenced by market-timing considerations – a strategy known as selective hedging. Moreover, …

Author Draft For Review Only and similar to industry-specific mutual funds, Select Sector
funds were created to divide the SPY into nine sectors based on industry groupings. That is, …

Most individuals who enjoy positive cash flows probably pursue two goals with their excess
wealth. First, they desire a secure future, which necessitates purchasing investments and …

In a perfectly efficient market, stock prices would accurately reflect a firm’s intrinsic value and
stock price levels would immediately and accurately discount news that changes intrinsic …