Managerial Finance: Volume 47 Issue 12

Higher moments anomaly: evidence from the Indian equity market

Asgar Ali, K.N. Badhani

The study investigates the impact of higher moments on cross-sectional returns in the Indian equity market.

Powerful CEOs and earnings quality

Shin-Rong Shiah-Hou

This study explores the effect of CEO power on earnings quality. If powerful CEOs make the information environment more opaque, they can easily conceal information to hide…

Information content of order flows in the FX market: importance of nonfundamental factors

Yacine Hammami, Sabrine Kharrat

The purpose of the paper is to show that order flows determine exchange rate dynamics because they carry information about nonfundamental factors besides macroeconomic…

Proximity to broad bond rating change and CEO power

Akhilesh Bajaj, Li Sun

Borderline firms whose bond rating has a plus or minus specification by a rating agency face a greater potential for an upgrade or downgrade by the agency. The authors examine the…

Do short sellers exacerbate volatility?

Glenn Kit Foong Ho, Sirimon Treepongkaruna, Chaiyuth Padungsaksawasdi

This paper examines whether short sellers aggravate volatility in the Australian stock market by using five different realized volatility (RV) measures during a more stable period.

Impact of cash surplus on firm’s capital structure: validation of pecking order theory

Barnali Chaklader, B. Padmapriya

Building on pecking order theory, this study seeks to understand the various financial factors that influence top management's decision regarding the company’s capital structure…

The bonding hypothesis revisited: evidence from US class action lawsuits

Jeffrey M. Coy, Kien D. Cao, Thuy T. Nguyen

Consistent with an “absolute bonding hypothesis,” the benefits of listing on US exchanges experienced by cross-listed firms are accompanied by an increased risk of experiencing a…

Measuring the effect of investor sentiment on financial distress

Lee M. Dunham, John Garcia

This study examines the effect of firm-level investor sentiment on a firm's level of financial distress.