• Breach of continuous disclosure in Australia

      Andersen, A; Gilbert, A; Tourani Rad (The Financial Services Institute of Australasia (Finsia), 2013)
      Given that disclosure is important for the efficient functioning of capital markets, this paper explores the impact of infringement of continuous disclosure by Australian listed firms. We observe a significantly negative ...
    • Crossing the Tasman: determinants of price discovery for Australia-New Zealand cross-listed shares

      Gilbert, A; Frijns, B; Tourani, A (Institute of Global Finance, Australian School of Business, 2013)
      Price discovery is the process by which markets incorporate new information. In this study, we investigate the price discovery for 19 stocks cross-listed on the NZX and the ASX between 1998 and 2012. We observe strong ...
    • Do criminal sanctions deter insider trading?

      Gilbert, A; Frijns, B; Tourani Rad, A (Wiley, 2013)
      Many developed markets have taken what appears to be a tough stance on illegal insider trading through the use of criminal sanctions. Although criminal sanctions represent a much greater penalty than civil sanctions, the ...
    • Help or Hindrance? Boardroom Network Connectivity and Firm Performance

      Ngataki Andersen, A; Gilbert, A (Auckland Centre for Financial Research, AUT University, 2016)
      While boardroom networks should act as a conduit for resource sharing between firms, and in doing so improve firm performance, recent evidence on the value of connected boards is limited and inconclusive. This study aims ...
    • Market timing ability and mutual funds: a heterogeneous agent approach

      Frijns, B; Gilbert, A; Zwinkels, RCJ (Taylor & Francis, 2013)
      This paper proposes a novel approach to determine whether mutual funds time the market. The proposed approach builds on a heterogeneous agent model, where investors switch between cash and stocks depending on a certain ...
    • On the role of cultural distance in the decision to cross-list

      Dodd, O; Frijns, BPM; Gilbert, A (John Wiley & Sons, 2013)
      This paper examines the role of culture in the choice of the destination market for cross-listing firms. We argue that firms cross-list in markets with greater cultural similarities, because 1) investors are more willing ...
    • On the style switching behavior of mutual fund managers

      Frijns, BPM; Gilbert, A; Zwinkels, R (Financial Management Association International, 2013)
      This paper develops an empirically testable model that is closely related to theoretical model for style switching behavior of Barberis and Shleifer (2003). We implement this model to examine the style switching behavior ...
    • Price discovery in US-Canadian cross-listed shares

      Gilbert, A; Frijns, BPM; Tourani Rad, A (New Zealand Finance Colloquium, 2013)
      Given the increasing integration of markets around the world, concerns have been expressed about the survival of smaller national exchanges in competition with larger, more liquid exchanges. Several theories have been put ...
    • Regulation and market efficiency: the impact of criminal sanctions for insider trading on transaction costs

      Gilbert, A; Frijns, B; Tourani-Rad, A (Bruce McKay on behalf of the Institute of Finance Professionals NZ, ©2004-Auckland, N.Z., 2011)
    • Short and Sweet or Just Short? The Readability of Product Disclosure Statements

      Gilbert, A; Scott, A (Auckland Centre for Financial Research (ACFR), 2017)
      Given the importance of information in making informed financial decisions, it is vital that investors are able to understand the information provided to them. With this in mind, in 2013, New Zealand legislators replaced ...
    • Why do financial literacy programmes fail?

      Frijns, BPM; Gilbert, A; Tourani-Rad, A (Auckland Centre for Financial Research, Auckland University of Technology, 2013)
      Numerous studies have found a positive relationship between financial literacy and financial experience. Typically, this relationship is interpreted as being a causal relationship, i.e. an increase in financial literacy ...