Articles by Author: Michael Ward

Search results for Michael Ward

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  1. The impact of reference-day risk on beta estimation and a proposed solution

    The impact of reference-day risk on beta estimation and a proposed solution

    Item type: Journal Article • Journal: Investment Analysts Journal
    The ability to accurately estimate systematic risk (or beta) when reference-day risk is considered, is an ineluctable requirement for all applications of the capital asset pricing model (CAPM).
  2. The market impact on shares entering or leaving JSE indices

    The market impact on shares entering or leaving JSE indices

    Item type: Journal Article • Journal: Investment Analysts Journal
    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 events that do...
  3. The winner takes it all: Outperformance drives subsequent flows in South African Unit Trust Funds

    The winner takes it all: Outperformance drives subsequent flows in South African Unit Trust Funds

    Item type: Journal Article • Journal: Investment Analysts Journal
    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 risk, weaker institutions, volatile economies and fewer participants,...
  4. The investment return puzzle on the Johannesburg Stock Exchange

    The investment return puzzle on the Johannesburg Stock Exchange

    Item type: Journal Article • Journal: Investment Analysts Journal
    Firms that invest into positive net present value projects should outperform firms that do not invest. Surprisingly, several studies on United States data have found a negative relationship between capital investment and subsequent shareholder return. There are conflicting explanations for...
  5. Book Review

    Book Review

    Item type: Journal Article • Journal: South African Journal of Philosophy
  6. Introduction

    Introduction

    Item type: Journal Article • Journal: South African Journal of Philosophy
  7. The economic benefits of fungicide treatment of maize for the control of grey leaf spot (<em>Cercospora zeae-maydis</em>) in KwaZulu-Natal

    The economic benefits of fungicide treatment of maize for the control of grey leaf spot (<em>Cercospora zeae-maydis</em>) in KwaZulu-Natal

    Item type: Journal Article • Journal: South African Journal of Plant and Soil
    Grey leaf spot (Cercospora zeae-maydis Tehon and E.Y. Daniels) is a relatively new disease of maize in South Africa and is capable of reducing grain yields by 20–60% in KwaZulu-Natal. Fungicides are widely used for control, but must be applied...