Winner of the Nobel Memorial Prize in Economic Sciences Richard Thaler challenges the
received economic wisdom by revealing many of the paradoxes that abound even in the …

This feature will report successful searches for disconfirming evidence--economic
anomalies. As suggested by Thomas Kuhn, an economic anomaly is a result inconsistent …

Behavioral finance endeavors to bridge the gap between finance and psychology. Now an
established field, behavioral finance studies investor decision processes which in turn shed …

This paper provides a systematic review of value premium literature that examines the
performance difference between value and growth stocks and the possible reasons for it. We …

Forecasting Volatility in the Financial Markets, Third Edition assumes that the reader has a
firm grounding in the key principles and methods of understanding volatility measurement …

This paper concentrates on the relationship between orthodox (corporate) finance and
dividend policy. More specifically, the paper examines the relationship between different …

The “Dogs of the Dow” strategy has become an increasingly popular investment strategy for
unit investment trusts, resulting in superior performance for US-based investors. To examine …

As an alternative way to shed light on the debate over whether accruals quality is a priced
risk factor, we examine the effect of seasonality on the pricing of the modified) accruals …

This paper establishes an empirical role for two measures of dividend stability (as a proxy for
dividend policy) in explaining UK stock returns. There is little systematic empirical evidence …

One particular investment strategy, a dividend yield strategy, has been in existence for
several years. This strategy consists of investing an equal dollar amount in each of the ten …