Publisher Summary This chapter provides a selective review of recent work in behavioral
finance. Modern finance assumes that the study of substantively rational solutions to …

We study the effect of different acquirer types, defined by financial status and their payment
methods, on their short and long‐term performance, in terms of abnormal returns using a …

Prediction of stock prices has been an important area of research for a long time. While
supporters of the efficient market hypothesis believe that it is impossible to predict stock …

“Bali, Engle, and Murray have produced a highly accessible introduction to the techniques
and evidence of modern empirical asset pricing. This book should be read and absorbed by …

Two easily measured variables, size and book‐to‐market equity, combine to capture the
cross‐sectional variation in average stock returns associated with market β, size, leverage …

This paper identifies five common risk factors in the returns on stocks and bonds. There are
three stock-market factors: an overall market factor and factors related to firm size and book …

For many years, scholars and investment professionals have argued that value strategies
outperform the market. These value strategies call for buying stocks that have low prices …

This paper relates cross‐sectional differences in returns on Japanese stocks to the
underlying behavior of four variables: earnings yield, size, book to market ratio, and cash …