16 research outputs found
Rationalizing the value premium in emerging markets
Get PDFWe reconfirm the presence of value premium in emerging markets. Using the Brazil–Turkey–India–China (BTIC) grouping during a period of substantial economic growth and stock market development, we attribute the premium to the investment patterns of glamour firms. We conjecture based on empirical evidence that glamour firms hoard cash, which delays undertaking of growth options, especially in poor economic conditions. Whilst this helps to mitigate business risk, it lowers market valuations and drives down expected returns. Our evidence supports arguments that the value premium is explained by economic fundamentals rather than a risk factor that is common to all firms
EFFICIENCY OF COMMERCIAL BANKS IN MALAYSIA
No full textABSTRACT This study investigates the change in the productivit
Teaching-learning-based pathfinder algorithm for function and engineering optimization problems
No full textA Comparative Study of Recent Non-traditional Methods for Mechanical Design Optimization
No full textNature Inspired Techniques and Applications in Intrusion Detection Systems: Recent Progress and Updated Perspective
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