Review of Accounting and Finance: Volume 20 Issue 1

Higher moments and US industry returns: realized skewness and kurtosis

Xiaoyue Chen, Bin Li, Andrew C. Worthington

The purpose of this paper is to examine the relationships between the higher moments of returns (realized skewness and kurtosis) and subsequent returns at the industry level, with…

Agency costs in the market for corporate control: evidence from UK takeovers

Edward Jones, Bing Xu, Konstantin Kamp

This paper aims to examine whether agency costs predict disciplinary takeover likelihood for the UK listed companies between 1986 and 2015.

Blockholders and corporate governance: evidence from China’s split-share-structure reform

Xiaolin Qian, Lewis Tam

Proper empirical tests of the effect of blockholders’ monitoring incentives on corporate governance are scant in the literature because the relationship between ownership…

Liquidity risk, transaction costs and financial closedness: lessons from the Iranian and Turkish stock markets

Sedighe Alizadeh, Mohammad Nabi Shahiki Tash, Johannes Kabderian Dreyer

This paper aims to study the impact of liquidity risk and transaction costs on stock pricing in Iran, a closed market operating under a financial embargo and compare the results…

Accounting downside risk measures and credit spreads

Pervaiz Alam, Barry Hettler, Han Gao

This study aims to examine the association between predictive accounting downside risk measures and changes in credit spreads. Building upon the earnings downside risk (EDR…