Leverage-initiating stocks experience an increase in return comovement with leveraged and a decrease zero-leverage the year after leverage initiation event. Conversely, that fully deleverage comove more their new peers of less old stocks. These findings are robust controlling for common factors firm characteristics using various time series events as exogenous shocks to corporate decisions. Our...

The debate on whether stock prices follow a random walk continues, becoming the foundation of modern portfolio theory. Supporters theory still believe that modeling is wasteful exercise. However, evidence from momentum pricing strategy and price reversals suggests otherwise. This study aimed to empirically explore in five international markets before during Covid-19 pandemic June 30, 2017, 2019...

Improving return forecasting is very important for both investors and researchers in financial markets. In this study we try to aim this object by two new methods. First, instead of using traditional variable, gold prices have been used as predictor and compare the results with Goyal's variables. Second, unlike previous researches new machine learning algorithm called Deep learning (DP) has bee...