Past literature shows inconsistent results when analyzing the impact on the external auditors’ report (AR) and stock returns. Similarly, it was observed that there is less literature that examined the significance of the ...

The complete diversification of idiosyncratic volatility is questionable due to factors such as market imperfections, investor irrationality and managerial decisions. Therefore, the purpose of this study is to investigate ...

This paper focuses on IPO long run underperformance anomaly and the application of calendar time techniques to dissect anomalous behavior of IPO stocks. More specifically this paper will provide fresh evidence on how ...

The main channel of information dissemination for initial public offerings (IPO) in the pre-listing stage is the prospectus. Auditor fee and director emoluments are two types of information that investors know about ...