Standard textbooks of Investment/Financial Management teach that although portfolio
diversification can help reduce investment risk without sacrificing the expected rate of return, the …

This study comparatively examines the dividends behavior in state-controlled firms versus
family-controlled firms. With the sample of large industrial firms listed on the Main Board of …

This paper examines the application of the Fama and French's (1993) three-factor model in
three Asian emerging markets (Hong Kong, Singapore and Taiwan). The empirical evidence …

We investigate the long-term effects of S&P 500 index additions and deletions on a sample
of stocks from 1962 to 2003 and find a significant long-term price increase for both added …

The risk–return relationship is one of the fundamental concepts in finance that is most important
to investors and portfolio managers. Finance theory argues that the beta or systematic …

This paper examines the risk–return relations in the Singapore stock market for the period
April 1986 to December 1998. Though beta is significantly related to realized returns, the …

… Author links open overlay panel Gordon YN Tang a b , Wai Cheong Shum a … Our results
are in full support of those found by Tang and Shum (2003). The different coefficients found are …

… This paper extends the study of Tang and Ho (1989) on the causal relationship between
the HSIF and the spot index prices by including the post-stock-crash period. Moreover, the …

Examines the impact of introducing derivative warrants on the price, volatility and trading
volume of the underlying securities in Hong Kong, China. Requirements of the Hong Kong …

The intertemporal stability of the covariance matrix of stock returns is important in using ex-post
factor structures on the APT and in portfolio optimization, while that of the correlation …