Behavioural finance: quo vadis?

Author(s):

Gulnur Muradoglu

Topic:
Finance

Behavioural finance endeavours to bridge the gap between neoclassical finance and cognitive psychology. Now an established field, behavioural finance looks at the investors' decision making formula as well as at their behaviour, which in turn sheds light on the observed departures from the traditional finance theory. The paper provides an overarching view of the behavioural finance area.

Updated: 10/02/2015
Comments:
Views: 7,010

Real and financial sector returns, the IMF, and the Asian crisis

Author(s):

Gulnur Muradoglu

Topic:
Finance
Industry:
Banking

This paper examines the impact of International Monetary Fund (IMF) announcements programs on different sectors of the economy.

Updated: 22/09/2011
Comments:
Views: 4,365

Capital structure and debt maturity in Europe: the role of integration and FDI

Author(s):

Gulnur Muradoglu

Topic:
Finance

We investigate capital structures and debt maturities of firms in Europe. Europe is different from the rest of the world as major European economies have bank-based financial systems and European emerging markets are integrating with them through accession.

Updated: 22/09/2011
Comments:
Views: 5,372

Capital structure and debt maturity in Europe: the role of integration and FDI

Author(s):

Gulnur Muradoglu

Topic:
Finance

We investigate capital structures and debt maturities of firms in Europe. Europe is different from the rest of the world as major European economies have bank-based financial systems and European emerging markets are integrating with them through accession.

Updated: 22/09/2011
Comments:
Views: 5,372

The impact of SEC litigation on firm value

Author(s):

Gulnur Muradoglu

Topic:
Finance
Industry:
Banking

This paper examines the effect of the announcement of the Securities and Exchange Commission's (SEC) legal enforcement actions. The results indicate that SEC lawsuits have a negative effect on share price.

Updated: 22/09/2011
Comments:
Views: 4,269

The UK crisis of 2008: what is real and what is behavioural?

Author(s):

Gulnur Muradoglu

Topic:
Finance
Industry:
Banking

This paper is about the crisis of 2008 in the UK. I first discuss the triggers of the crisis in the UK, then go over the immediate reactions to it in the form of short term policies and conclude with a discussion of long term policies.

Updated: 25/12/2014
Comments: 7
Views: 4,799

Leverage and common risk factors in stock returns

Author(s):

Gulnur Muradoglu

Topic:
Finance
Industry:
Banking

Leverage is an important risk factor which has been ignored in the asset pricing literature. This paper attempts to broaden the focus of the current asset pricing literature by forming portfolios mimicking the leverage factor.

Updated: 22/09/2011
Comments:
Views: 4,896

Using Firm Level Leverage as an Investment Strategy

Author(s):

Gulnur Muradoglu

Topic:
Finance
Industry:
Banking

Investing in low leverage firms yields abnormal returns of 4.43 percent per annum. If an investor holds a portfolio of low leverage and low market to book ratio firms abnormal returns increase to 16.18 percent per annum.

Updated: 22/09/2011
Comments:
Views: 3,803

An empirical test on leverage and stock returns

Author(s):

Gulnur Muradoglu

Topic:
Finance
Industry:
Banking

This is an empirical study that investigates the effect of firm's leverage on stock returns. We start with the explicit valuation model of Modigliani and Miller (1958) and expand the model further to test the relation between stock returns and firms' leverage.

Updated: 22/09/2011
Comments:
Views: 6,261