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Browsing by UP Author "Ward, Michael"
Now showing items 21-36 of 36
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Miller, Craig Elie; Ward, Michael (Investment Analysts Society of Southern Africa, 2015)A company’s entry into (or exit from) a major share index provides a special opportunity to examine price discovery. In an efficient market, we expect the demand curve to remain horizontal and to be unaffected by external ...
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Wesson, N.; Muller, C.; Ward, Michael (Association for Professional Managers in South Africa, 2017)Investors can benefit when incorporating the information-signalling effect of share repurchases in their investment strategies. Previous South African studies on open market share repurchases confirmed the globally observed ...
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Ward, Michael; Terblanche, R.C. (Investment Analysts Society of Southern Africa, 2009)Conventional market timing is the process of switching asset classes to meet expectations about economic or sector related forecasts. This paper extends existing research by examining the risk and return outcomes of a ...
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Wesson, N.; Muller, C.; Ward, Michael (Association for Professional Managers in South Africa, 2014)This study examined the long-term performance of open market share repurchase announcements made by companies listed on the JSE during their reporting periods including 1 July 1999 to 2009. A total of 195 open market share ...
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Wesson, N.; Muller, C.; Ward, Michael (Association for Professional Managers in South Africa, 2014)This study examined the long-term performance of open market share repurchase announcements made by companies listed on the JSE during their reporting periods including 1 July 1999 to 2009. A total of 195 open market ...
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Muller, C.; Ward, Michael (Bureau for Economic Research and the Graduate School of Business, University of Stellenbosch, 2010-04)This paper examines the 70 country indices which comprise the MSCI world index as a representative set of global equity investment opportunities, and examines momentum and mean reversion effects in these. We show that ...
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Du Plessis, A.J.; Ward, Michael (Investment Analysts Society of Southern Africa, 2009)Harry Markowitz is generally acknowledged as the father of modern portfolio theory after publishing his seminal paper in 1952, for which he (jointly) received a Nobel Prize in 1990. Markowitz (1952) and Tobin (1958) showed ...
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Mehta, U.; Ward, Michael (Unisa Press, 2017-06)One of the major initiatives to redress the social and economic injustices of apartheid in South Africa is the black economic empowerment (BEE) legislative framework currently enacted by government. One of the core ...
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Moodley, T.; Ward, Michael; Muller, C. (Routledge, 2017)Effective working capital management assists a firm in achieving improved liquidity through the management of the components of receivables, inventory, and payables. Previous studies have established that changes in working ...
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Muller, C.; Ward, Michael (Investment Analysts Society of Southern Africa, 2006)No abstract available
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Ward, Michael (Emerald, 2021-11)CASE OVERVIEW : This case focuses on the business rescue of South African Airlines. SAA, four times rated the best airline in Africa (SAA, 2019), was already insolvent when in early 2020 COVID-19 decimated the world. The ...
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Ward, Michael (Emerald, 2020-07)LEARNING OUTCOMES : The case presents a significant amount of information on the outbreak of COVID-19 and the expected impact on the economy. Although the case is necessarily concise, several links are given to the online ...
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Muller, C.; Ward, Michael (Investment Analysts Society of Southern Africa, 2013)Fama and French (1992), in a controversial paper at the time, noted strong associations between cross-sectional equity returns and so-called style variables including size, the price to earnings (P/E) ratio, gearing and ...
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I'Ons, Trevor Andrew; Ward, Michael (Association for Professional Managers in South Africa, 2012)The effectiveness of the Price Earnings Growth ratio as a valuation tool has been a topical debate amongst analysts ever since being popularised by Lynch (1989). This study examines the appropriateness of the fair value ...
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Sahadev, Kesh; Ward, Michael; Muller, Chris J. (Elsevier, 2018-02)The ability to accurately estimate systematic risk (or beta) in the presence of reference-day risk is an ineluctable requirement for all applications of the capital asset pricing model (CAPM). This research documents ...
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The winner takes it all : outperformance drives subsequent flows in South African unit trust funds Arendse, Jennifer; Muller, Chris J.; Ward, Michael (NISC Pty (Ltd) and Informa Limited (trading as Taylor & Francis Group), 2018-01-30)The relationship between unit trust (mutual fund) performance and subsequent investment flows into and out of funds has been the focus of many international studies. Emerging markets, which are characterised by higher ...
Now showing items 21-36 of 36