This paper contributes to the growing literature on the effects of derivatives on less mature
markets by providing evidence on the stabilizing or destabilizing effects of derivatives on a …

We provide new evidence on the role of financial advisors in M&As. Contrary to prior studies,
top‐tier advisors deliver higher bidder returns than their non‐top‐tier counterparts but in …

Enterprise-Wide Risk Management (EWRM) is the new model of risk management, in which
the identification, understanding, measurement and management of the assortment of risks (…

Abstract Knowledge of the interest rate sensitivity of stocks is important in many areas of
investment and finance. This paper makes three contributions to the existing literature:(a) it …

Effective implementation of market timing and style rotation strategies poses challenging
questions to an active fund manager. In addition to the problems associated in devising a truly …

In this paper we perform regression‐based tests for mean‐variance spanning in order to
detect the effect of investing in euro area small capitalisation stocks on the minimum variance …

We investigate why investors may be willing to participate in active management, notwithstanding
that the average manager is likely to generate negative alpha after fees. We model the …

… The authors are grateful to Arie Melnik, Maurizio Murgia, Nick Tessaromatis, and an
anonymous referee for useful suggestions and comments. They also thank seminar participants at …

Hundreds of variables have been proposed to predict the cross-section of stock returns; see,
for instance, Harvey, Liu, and Zhu (2015), McLean and Pontiff (2016), and Hou, Xue, and …

In the Greek market has not been conducted any research in the trading activity and the
stock reaction after the expiration of the lockup agreement in the Athens Stock Exchange. …