OAR@UM Collection:
https://www.um.edu.mt/library/oar/handle/123456789/28515
2024-03-29T10:05:59ZMarket perception of SOX act in the case of US listed banks
https://www.um.edu.mt/library/oar/handle/123456789/31915
Title: Market perception of SOX act in the case of US listed banks
Authors: Vitezova, Martina
Abstract: This paper examines the net effect of Sarbanes – Oxley Act of 2002 onto market valuation of bank holding shares. Overall analysis finds significant price growth in the years following the SOX Act. At the same time liquidity of the bank shares has improved, which implies SOX Act has produced benefits for US listed bank holdings. When analyzing shorter sequences, we confirm that banking industry enjoys reputation as well regulated industry as opposed to other industries, which drove the share prices and liquidity up.2011-01-01T00:00:00ZHerding by mutual fund managers in the Athens stock exchange
https://www.um.edu.mt/library/oar/handle/123456789/31877
Title: Herding by mutual fund managers in the Athens stock exchange
Authors: Theriou, Nikolaos G.; Mlekanis, George; Maditinos, Dimitrios
Abstract: Behavioural finance is a paradigm receiving great attention in the last decades and shaking the foundations of modern finance. A broadly discussed behavioural bias is herding, i.e. the tendency of investors to imitate each others’ decisions. Herding is a phenomenon with far-reaching implications for financial markets, but its importance becomes even larger if it is exhibited by institutional investors. The present study attempts to investigate whether mutual fund managers in Greece herd when investing in the Athens Stock Exchange in the period 2001 – 2006. For this purpose, semi-annual portfolio holdings of 31 mutual funds are analysed using the methodology proposed by Lakonishok et al. (1992). The study concludes that mutual fund managers undoubtedly herd, with the extent of herding being irrelevant to the price movements observed in the market. Managers herd primarily when they trade in large capitalisation stocks or stocks that belong to the most “famous” indices.2011-01-01T00:00:00ZInternational stock markets : a co-integration analysis
https://www.um.edu.mt/library/oar/handle/123456789/31876
Title: International stock markets : a co-integration analysis
Authors: Thalassinos, Eleftherios J.; Politis, Evangelos D.
Abstract: This study investigates the degree of co-integration between five major European stock markets and five major non European stock markets. The results show that all five major European stock markets are co-integrated either positively or negatively, while among the five major non European the Canadian, the Japanese and the Singapore are non cointegrated with the others. The results point towards a decreasing number of common stochastic trends influencing the stock markets, i.e. the degree of co-integration between the European stock markets has been increased during the recent decade.2011-01-01T00:00:00ZReforms of the public sector management in Albania
https://www.um.edu.mt/library/oar/handle/123456789/31875
Title: Reforms of the public sector management in Albania
Authors: Stillo, Sonela; Llaci, Shyqyri; Vangjeli, Eleni
Abstract: The problems treated and the often calumniated problems about public administration in Albania gave an impulse to our research. In inquiring through the comparative analysis of the tow public and private sector, we tried to certify the hypotheses that the public administration has enough problems, and that the reform in a certain point have positive indications, but there’s place for improvement. We could say that the paths leading to the integration of the large European family are, among others, the effective reforms in the public sector management, too.2011-01-01T00:00:00Z