Individual investors repurchasing behaviour: evidence from the Portuguese stock market

Leal, Cristiana Cerqueira; Armada, Manuel José da Rocha; Loureiro, Gilberto

doi:10.1080/1351847x.2017.1368681

Cited by 4 publications

(3 citation statements)

References 38 publications

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“…Within the EJF, recent work in this area has focussed on the influence of behavioural factors on portfolio choice (e.g. Dittrich et al, 2005;Holland, 2006;Rubbaniy et al, 2014;Leal et al, 2018), whilst studies examining the impact of home bias (often from a behavioural perspective), mergers / acquisitions and event studies (including their methodological aspects) have also become populous.…”

Section: Cluster #1: Portfolio Management (Represented In Purple)mentioning

confidence: 99%

Twenty-five years of The European Journal of Finance (EJF): a retrospective analysis

Burton

Kumar

Pandey

2020

The European Journal of Finance

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This study commemorates the 25 th anniversary of The European Journal of Finance (EJF) by providing a detailed retrospective analysis of the journal's output using a range of bibliometric tools. The evidence demonstrates that since its inception the journal has grown consistently in terms of dimension, breadth, quality and reach. The major themes that have come to define the EJF over this time include: portfolio management, stock return persistence, risk management, financing decisions, corporate governance, spillover effects, mutual fund performance, volatility measurement and international finance trends. Co-authorship analysis reveals that the journal has fostered a global network of scholars, reflecting the pervasive nature of collaboration that now extends across the world.

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Section: Cluster #1: Portfolio Management (Represented In Purple)mentioning

confidence: 99%

Twenty-five years of The European Journal of Finance (EJF): a retrospective analysis

Burton

Kumar

Pandey

2020

The European Journal of Finance

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“…There are several sources of risk that can affect the amount of investment risk, including interest rate risk, business risk, financial risk (Staikouras, 2005). To reduce risk, investors need to diversify (Leal et al, 2018). Diversification shows that investors need to form investment portfolios in such a way that risk can be minimized without reducing the expected return.…”

Section: Resultsmentioning

confidence: 99%

Direct Current (DC) vs Alternating Current (AC) Financial Transaction Flow in Holding and Non-Holding Companies

2022

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A study on the flow of financial transactions needs to be carried out considering that activities in the financial sector require quick and relevant decisions. The flow of financial transactions in the business world is almost similar to direct current (DC) and alternating current (AC). The phenomenon is that many business people want their funds to be spread outside the company, and some want their funds to only revolve around the company. This study tries to analyze the results of investment flows of funds outside the company and within the company in the scope of the Indonesian capital market. This research is a research using a descriptive approach. The descriptive approach is intended to describe phenomena that occur in the field. The number of sample companies is 175 companies (holding and non-holding). Each company is given a code (code 1 for holding, and code 0 for non-holding), and company data is screened according to research needs on aspects; profit return, stock return, stock price, and profit and loss. Data mining in the field is carried out by researchers by means of secondary data analysis techniques for the capital market through analysis of financial statements from the side of the transaction flow. Then the results of the analysis of the company's flow of funds are processed, compared, and used as the basis for drawing conclusions. The results provide evidence that holding financial flows are more profitable than non-holding according to AC/DC transaction flows. This is in accordance with the risk reduction theory that many developed countries do by controlling the circulation of money only around their country. Theoretically, the results of this study contribute that holding companies have advantages over non-holdings, and practically this research provides a discourse for business people that it is better to run the business alone and not depend on outside parties.

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“…However, investors need to understand the mechanism of multi-markets thoroughly (Akhtar, 2021). However, the investors decisions are also influenced by the characteristics of equity market such as transparency, functionality, efficiency, quick and easy-access to information in the developed equity markets that emerging markets typically lacks (Arikan et al, 2019;Leal et al, 2018). Besides, investors consider the trade-off between desirable and undesirable thing as endeavor to optimize returns and diminish risk rationally which is possible through portfolio diversification strategy (Markowitz, 1952).…”

Section: Introductionmentioning

confidence: 99%

An empirical investigation of Tobin’s-Q augmented various Asset Pricing Models: Evidence from Pakistan

Azam

2022

JSSMS

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Despite the strong growing popularity of Asset Pricing Models, it is difficult to estimate which factor contributes significantly in explaining average excess portfolio returns particularly in emerging equity market. Using an extensive sample over Jan-1994-Dec-2020 period, this paper aims to extend the literature by augmenting Tobin-Q adjusted risk premium with various unconditional standard asset pricing models which seeks to postulate the nexus between expected portfolios stock returns and risk-factors using monthly data of 521 enlisted financial and non-financial firms from Pakistan Stock Exchange. The multiple time-series OLS regression analysis models are employed to analyze Tobin-q risk-factor augmented with various factors models. Fama and French (2015) five-factor model excessively explains average equity returns however, our results reveal that size, value, profitability and particularly Tobin-q factor are significant while market and investment factor are redundant in Pakistan Stock Exchange. The momentum factor shows weak results in describing average equity returns in the market. Based on Gibbons, Ross and Shanken (1989) test, our findings support Tobin-Q augmented Fama and French (2015) five-factor model as appropriate for pricing stocks returns in emerging market of Pakistan. The investors, portfolio managers and policy-makers should assume the Tobin-q factor while constructing diversified portfolios for investments in Pakistan Stock Exchange

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Individual investors repurchasing behaviour: evidence from the Portuguese stock market

Cited by 4 publications

References 38 publications

Twenty-five years of The European Journal of Finance (EJF): a retrospective analysis

Twenty-five years of The European Journal of Finance (EJF): a retrospective analysis

Direct Current (DC) vs Alternating Current (AC) Financial Transaction Flow in Holding and Non-Holding Companies

An empirical investigation of Tobin’s-Q augmented various Asset Pricing Models: Evidence from Pakistan

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