Identifying stocks' characteristics before market crashes: the case of the Athens stock exchange
by Ilias A. Makris; Vasilis N. Nikolaidis; Stavros Stavroyiannis
Global Business and Economics Review (GBER), Vol. 15, No. 1, 2013

Abstract: Many surveys analyse the volatility of stock market indexes, omitting the role of individual stocks in that phenomenon. In the present study, we focus on that part of the market, using financial and market data from listed firms in the Athens Stock Exchange (ASE) index in several crashes, during current economic crisis. Using econometric analysis, we attempt to identify firm characteristics that may differentiate stocks' behaviour in market crashes. Finding shows that as the depression becomes deeper, investors seem to pay attention, apart from financial indicators (such as beta), to firms' internal economic indicators (such as debt), crucial for their viability.

Online publication date: Thu, 07-Nov-2013

The full text of this article is only available to individual subscribers or to users at subscribing institutions.

 
Existing subscribers:
Go to Inderscience Online Journals to access the Full Text of this article.

Pay per view:
If you are not a subscriber and you just want to read the full contents of this article, buy online access here.

Complimentary Subscribers, Editors or Members of the Editorial Board of the Global Business and Economics Review (GBER):
Login with your Inderscience username and password:

Username:        Password:          Forgotten your password?

Want to subscribe?
A subscription gives you complete access to all articles in the current issue, as well as to all articles in the previous three years (where applicable). See our Orders page to subscribe.

If you still need assistance, please email subs@inderscience.com