The objective of the present study is to examine the day-of-the week effects in the Indian stock market. For analysis, we selected the BSE Ltd and NSE benchmark indices namely S&P BSE SENSEX and NSE Nifty 50 in this research. The sample included from 1st April 2011 to 31st March 2021, which consists of ten years. The findings reveal that the values of coefficients of Wednesday are positively significant for S&P BSE SENSEX and NSE Nifty 50 Indices. The results from the study suggest that it would be beneficial for the investors to sell shares on Wednesdays and buy shares on other trading days. The results from the present study would be beneficial to individual investors, institutional investors, investment brokers, and administrators in companies.
The COVID-19 pandemic has induced a series of credit risk problems for most commercial banks in the Gulf Cooperation Council region. The study aims to examine the impact of both credit risk and bank-specific drivers on commercial banks' financial performance in the UAE using panel data with a fixed effect model on a sample of ten commercial banks over ten years from 2012-2021. The findings revealed a negative association between credit risk and financial performance while COVID-19 negatively affects financial performance. The management efficiency and banks' liquidity, which measures banks' specific drivers, are found to have a negative relationship with financial performance while capital adequacy and bank size are found to have a positive relationship with financial performance. This study contributes to the knowledge gaps on credit risk and banks' performance during the financial crisis nexus and provides valuable information to regulators and bankers.
This paper investigates whether positive or negative tones in US public firms' sustainability reports are associated with their future environmental performance. Using three-stage least squares simultaneous equations (3SLS) model and a sample of resource extractive firms (mining, quarrying, oil and gas extraction) listed on the US stock exchanges that issue stand-alone sustainability reports between 2010 and 2018, we find a negative correlation between the tones in sustainability reports and future environmental performance. Our result suggests that firms with low environmental performance use more optimistic tones to impress stakeholders. In contrast, firms with good performance tend to be more risk-averse and pessimistic in sustainability reporting to mitigate litigation risks. Our study contributes to understanding what motivates firms to disclose sustainability activities.
