The finance literature suggests that analysts’ stock recommendations have negligible impact on market prices. Some studies suggest this lack of market impact may be partly driven by the affiliations between investment ...

The seminal market efficiency paradigm in finance is being increasingly challenged by evidence apparently inconsistent with its predictions. Such "anomalies" tend to show that the market does not fully incorporate ...

The distress factor hypothesis says that value stocks and small stocks are distressed and therefore higher returns on such stocks are merely a compensation for higher risk. I test this hypothesis using z-scores, a cleaner ...

This paper explores the powerful emotions unleashed during asset pricing bubbles. Adopting a psychoanalytic perspective, we develop a five-stage path-dependent model of such financial crises and test this empirically on ...

This thesis examines the motivation by UK firms for one aspect for corporate philanthropy – support for the arts. The literature has shown that there is an increase in strategic philanthropy – business giving which is ...