Full metadata record
DC Field | Value | Language |
---|---|---|
dc.contributor.author | 엄찬영 | - |
dc.date.accessioned | 2018-03-23T04:28:32Z | - |
dc.date.available | 2018-03-23T04:28:32Z | - |
dc.date.issued | 2013-09 | - |
dc.identifier.citation | Emerging Markets Finance and Trade , 2013, 49(sup4), p.93-103 | en_US |
dc.identifier.issn | 1540-496X | - |
dc.identifier.uri | http://www.tandfonline.com/doi/abs/10.2753/REE1540-496X4905S407 | - |
dc.identifier.uri | http://hdl.handle.net/20.500.11754/51168 | - |
dc.description.abstract | Stock issuance predicts future stock returns in the Korean market. This creates profitable trading opportunities. Abnormal returns exist in the zero-cost portfolio that short the firms issuing large numbers of shares and longs those issuing small numbers of shares. Their average abnormal return is 12 percent per annum, which is highly significant even after controlling for market, size, value, and momentum factors as well as transaction costs. The authors suggest the possibility of fixed costs in equity market timing. Only the sizable benefit from market timing over fixed costs motivates firms to increase net equity shares. | en_US |
dc.language.iso | en | en_US |
dc.publisher | Taylor & Francis | en_US |
dc.subject | abnormal return | en_US |
dc.subject | market timing | en_US |
dc.subject | misvaluation | en_US |
dc.subject | stock issuance | en_US |
dc.title | Tactical Asset Allocation and Stock Issuance in the Korean Stock Market | en_US |
dc.type | Article | en_US |
dc.relation.volume | 49 | - |
dc.identifier.doi | 10.2753/REE1540-496X4905S407 | - |
dc.relation.page | 93-103 | - |
dc.relation.journal | EMERGING MARKETS FINANCE AND TRADE | - |
dc.contributor.googleauthor | Kang, Hyoung-Goo | - |
dc.contributor.googleauthor | Kim, Soo-Hyun | - |
dc.contributor.googleauthor | Eom, Chan-young | - |
dc.relation.code | 2013013128 | - |
dc.sector.campus | S | - |
dc.sector.daehak | SCHOOL OF BUSINESS[S] | - |
dc.sector.department | DEPARTMENT OF FINANCIAL MANAGEMENT | - |
dc.identifier.pid | cyeom73 | - |
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