Studies in Economics and Finance: Volume 32 Issue 2

On informational efficiency of the banking sector: a behavioral model of the credit boom

David Peon, Anxo Calvo, Manel Antelo

This paper aims to examine the informational efficiency in retail credit markets to test whether behavioral biases (excessive optimism) by some participants in the banking…

Does the financial crisis influence the month and the trading month effects?: Evidence from the Athens Stock Exchange

Evangelos Vasileiou, Aristeidis Samitas

This paper aims to examine the month and the trading month effects under changing financial trends. The Greek stock market was chosen to implement the authors' assumptions because…

Over-investment, the marginal value of cash holdings and corporate governance

Chih Jen Huang, Tsai-Ling Liao, Yu-Shan Chang

– The purpose of this paper is to examine how investors’ valuation of cash holdings is related to firm-level investment.

Reconsidering the role of Tobin’s Q: Nonlinearities and the adjustment of investment expenditure

Mark J. Holmes, Nabil Maghrebi

The purpose of this study is to investigate nonlinearities in the behavior of investment expenditure. Conventional wisdom suggests that Tobin’s Q criterion is an important…

Economic growth and market-based financial systems: a review

Sheilla Nyasha, N.M. Odhiambo

This paper aims to survey the existing literature on the causal relationship between market-based financial development and economic growth – in both developed and developing…

Identifying an index of financial conditions for South Africa

Kirsten Thompson, Renee Van Eyden, Rangan Gupta

The purpose of this study is to construct a financial conditions index (FCI) for the South African economy to enable the gauging of financial conditions and to better understand…