Managerial Finance: Volume 48 Issue 2

The role of social capital in private placement: evidence from Rule 144A debt issuances

Jianrong Wang, Haizhi Wang, Desheng Yin, Yun Zhu

The purpose of this paper is to investigate the role of social capital in the issuances of Rule 144A debt. Using a sample of 1,378 debt offerings from 1997 to 2015 in the US, this…

Firm, institutional and short sellers’ trading behavior around share repurchases

Reuben Segara, Jin Young Yang

This study investigates the valuation motive for increasing share repurchases: the authors analyze the trading dynamics between short sellers, institutional investors and the firm…

Price and volume effects around Islamic index revisions: the case of DJIM-GCC

Chiraz Labidi, Dorra Laribi, Loredana Ureche-Rangau

This study explores the price and trading volume effects around the quarterly Dow Jones Islamic Market-GCC index (DJIM-GCC) revisions and investigates whether these reactions are…

Betas in the time of corona: a conditional CAPM approach using multivariate GARCH model for India

Sonali Jain

This paper empirically investigates the effect of the coronavirus pandemic (COVID-19) on the Indian financial market and firm betas, perhaps the first paper to do so. The results…

Calendar anomalies in the stock markets: conventional vs Islamic stock indices

Md. Bokhtiar Hasan, M. Kabir Hassan, Md. Mamunur Rashid, Md. Sumon Ali, Md. Naiem Hossain

In this study, the authors evaluate seven calendar anomalies’–the day of the week, weekend, the month of the year, January, the turn of the month (TOM), Ramadan and Eid…

Characteristics analysis of behavioural portfolio theory in the Markowitz portfolio theory framework

Saksham Mittal, Sujoy Bhattacharya, Satrajit Mandal

In recent times, behavioural models for asset allocation have been getting more attention due to their probabilistic modelling for scenario consideration. Many investors are…

Structural innovation in state variables and expected stock returns

Prodosh E. Simlai

The purpose of this study is to investigate whether the surprise components of systematic risk, which are useful in forecasting future investment opportunities, help explain the…

Impact of corporate tax aggressiveness on firm value: evidence from India

Taruntej Singh Arora, Suveera Gill

There is mixed evidence in the extant literature on the firm value implications of corporate tax aggressiveness in the developed economies. There are, however, limited studies…

Student-managed investment funds: seven mismatches and three recommendations

Crystal Yan Lin

The purpose of this paper is to investigate the embedded challenges of student-managed investment funds (SMIFs) and provide recommendations to work with these issues.

Business sustainability performance and corporate financial performance: the mediating role of optimal investment

Ehsan Poursoleyman, Gholamreza Mansourfar, Saeid Homayoun, Zabihollah Rezaee

Employing a large sample consisting of 3,701 corporations domiciled in developed and emerging countries, this paper aims to analyze the mediating role of investment efficiency in…