Vichet Sum, Ph.D.
 
     
 
 
Refereed Journal Articles

» Sum, V., & Lin, J. C. (In Press). Short interest ratio and equity market return: Causality
   and impulse response functions. Advances in Financial Planning and Forecasting,    Forthcoming. Link to Article

» Sum, V., Ali, M., & Das, M. (2016). Can business confidence and consumer confidence jointly explain    stock market returns? Evidence from panel data. Advances in Investment Analysis and
   Portfolio Management
, 7, 1-7.
Link to Article

» Sum, V. (In Press). Can firms with the best training program withstand the storm of    economic policy uncertainty? Journal of Business Economics and Management,
   Forthcoming.
Link to article

» Sum, V. (In Press). Economic policy uncertainty and stock market returns.
   International Review of Applied Financial Issues and Economics
. Forthcoming.
   Link to article

» Sum, V. (2014). Dynamic effects of financial stress on the U.S. real estate market    performance. Journal of Economics and Business, 75, 80-92. Link to Article

» Sum, V. (2014). Dynamic effect of Tobin's q on price-to-earnings ratio.
   Managerial Finance
, 40(6), 634-643. Link to Article

» Sum, V. (2014). Why should you invest in the best companies to work for?
   Journal of Investing, 23(1), 69-73. Link to Article

» Sum, V. (2014). Covariance patterns of the commodity and equity markets: A recent
   surprise. Journal of Index Investing, 5(1), 33-37. Link to Article

» Sum, V., & Chorlian, J. (2014). Training and the firm's competitiveness: A survey of    practitioners.  Economics, Management, and Financial Markets, 9(2), 11-26.
   Link to Article

» Sum, V. (2014). Equity trading activity and credit spread shock. Journal of Trading,
   9(2), 21-26.Link to Article

» Sum, V. (2014). Stock market performance: Variance decomposition of price-
   earnings ratio, dividend yield and Tobin's Q. Journal of Financial Transformation,
   39
, 63-67.  Link to Article

» Sum, V. (2014). Effects of business and consumer confidence on stock market
   returns: Cross-sectional evidence. Economics, Management, and Financial Markets,
   9
(1), 21-25. Link to Article.

» Sum, V. (2014). Quality of the firm’s training and stock returns.
   Journal of Wealth Management, 16(4), 48-54.
   Link to Article

» Sum, V. (2014). Stock market returns and liquidity: Dynamic relationships and
   causality. Journal of Trading, 9(1), 34-40.
   Link to Article

» Sum, V., Chorlian, J., & Lin, J. C. (2013). The effect of the demand side’s
   confidence on the supply side’s confidence: The mediating role of financial stress.    Investment Management and Financial Innovations, 10(4), 43-47. Link to Article.

» Sum, V. (2013). The ASEAN stock market performance and economic policy    uncertainty in the United States. Economic Papers: A Journal of Applied Economics
   and Policy
, 32(4), 512-521. Link to Article

» Sum, V. (2013). Response of business and consumer confidence to monetary policy
   shocks. The Empirical Economics Letters, 12(11), 1259-1265. Link to Article.


» Sum, V., & Lin, J. C. (2013). Financial stress and commercial bank loan delinquency.
   Banks and Bank Systems, 8(3), 72-75. Link to Article

» Sum, V., & Chorlian, J. (2013). Stock market risk premiums, business confidence and
   consumer confidence: Dynamic effects and variance decomposition. International
   Journal of Economics and Finance
, 5(9), 45-49.
Link to article

» Sum, V., & Chorlian, J. (2013). Strategic involvement of training professionals in the
   firm’s business strategies: Evidence from the United States. Global Journal of
   Business Research
, 7(4), 127-134. Link to article

» Sum, V. (2013). The impulse response functions of stock market returns to
   temperature and precipitation innovations. International Research Journal of Applied    Finance, 4(3), 429-450. Link to Article

» Sum, V. (2013). Commercial paper rates and stock market excess returns. Journal of
   Finance and Investment Analysis
, 2(1), 77-83. Link to Article

» Sum, V. (2013). Innovation and firm performance: Evidence from the capital market.
   Journal of Modern Accounting and Auditing
, 9(2), 272-277. Link to article

» Sum, V. (2013). Employee benefits and stock returns: A look at health care benefits.
   Accounting and Taxation
, 5(1), 1-8. Link to article

» Sum, V. (2013). Economic policy uncertainty in the United States and Europe: A
   cointegration test. International Journal of Economics and Finance, 5(2), 98-101.

   Link to article

» Sum, V. (2013). The orthogonal response of stock returns to dividend yield and price-
   to-earnings innovations. Accounting and Finance Research, 2(1), 47-53.
   Link to Article

» Sum, V. (2013). Impulse response functions and causality test of financial stress and
   stock market risk premiums. International Journal of Financial Research, 4(1), 1-4.
   Link to article

» Sum, V. (2012). Most admired companies: Admirable performance. Journal of
   Applied Finance and Banking
, 2(6), 191-199. Link to article

» Sum, V., & Fanta, F. (2012). Long-run relation and speed of adjustment of economic
   policy uncertainty and excess return volatility. International Research Journal of
   Finance and Economics
, 102, 6-12. Link to article

» Sum, V., & Brown, K. (2012). Real estate sector response to economic policy
   uncertainty shocks.    International Research Journal of Applied Finance, 3(12),
   1739-1747. Link to article

» Sum, V. (2012). Financial stress and economic policy uncertainty: Impulse response
   function and    causality. International Research Journal of Applied Finance, 3(11),
   1633-1637. Link to article

» Sum, V. (2012). The effect of economic policy uncertainty in the US on the stock
   market performance in Canada and Mexico. International Journal of Economics and
   Finance
, 4(11),    165-171. Link to article

» Sum, V. (2012). Economic policy uncertainty and stock market performance: Evidence
   from the European Union, Croatia, Norway, Russia, Switzerland, Turkey and Ukraine.
   Journal of Money, Investment and Banking
, 25, 99-104. Link to article

» Sum, V. (2012). Does economic policy uncertainty in the United States affect stock
   market performance in Europe? International Research Journal of Finance and
   Economics
, 98, 40-45. Link to article

» Sum, V. (2012). The impulse response functions of economic policy uncertainty and
   stock market returns: A Look at the Eurozone. Journal of International Finance
   Studies
, 12(3), 100-105.  Link to article

» Sum, V., & Chorlian, J. (2012). Stock returns and employee turnover. International
   Economics and Finance Journal
, 7(2), 347-354. Link to article

» Sum, V. (2012). Most ethical companies and stock performance: empirical evidence.
   International Research Journal of Applied Finance
, 3(9), 1286-1292. Link to article

» Lim, S., Sum, V., & Khun, C. (2012). Interest rate sensitivity of stock returns: Effects
   across the maturity profile and direction of interest rate changes. International
   Research Journal of Applied Finance
, 3(8), 1151-1162. Link to article

» Sum, V. (2012). Workforce diversity and stock returns. International Research
   Journal of Finance and Economics
, 92, 82-86. Link to article

» Lim, S., Khun, C, & Sum, V. (2012). On the functional forms and stability of money
   demand: The U.S., Japan and Australia. Research in Business and Economics Journal,
   6
, 150-168. Link to article

» Sum, V. (2012). Stock performance and the firm's training program. International
   Research Journal of Applied Finance
, 3(5), 554-559. Link to article

» Sum, V. (2012). A comparison of strategic involvement of training professionals
   employed in small, medium and large firms. Academy of Business Journal, 2, 63-71.
   Link to article

» Lin, J. C., & Sum, V. (2012). Bank ownership and performance in Taiwan: Do politics
   matter? Journal of Finance and Accountancy, 10, 12-30. Link to article

» Sum, V. (2011). Integrating training in business strategies means greater impact of
   training on the firm’s competitiveness. Research in Business and Economics Journal,
   4
, 1-19. Link to article

» Sum, V. (2010). The January and size effects on stock returns: More evidence.
   International Journal of Applied Accounting and Finance
, 1(1), 47-52.
   Link to article

» Brown, K., & Sum, V. (2010). Determinants of dividend payments. International
   Journal of Applied Accounting and Finance
, 1(1), 40-46. Link to article

» Sum, V., McCaskey, S. J., & Kyeyune, C. (2010). A survey research of satisfaction
   levels of graduate students enrolled in a nationally ranked top-10 program at a mid-
   western university. Research in Higher Education Journal, 7(2), 1-17. Link to article

» Sum, V. (2009). Strategic integration of training and innovation: Significantly
   connected. Journal of Global Information Technology, 4(1-2), 7-20. Link to article

» Sum, V. (2007). A framework for managing training programs to enhance
   organizational operation performance. Online Journal for Workforce Education
   and Development
, 2. Retrieved from http://opensiuc.lib.siu.edu/ojwed/vol2/iss3/6/
   Link to article

» Lin, C., Hsieh, H., Yuok, N., Savary, C., & Sum, V. (2004). Evaluating the
   competitiveness of least-developed countries - the example of Cambodia. Asia Pacific
   Management Review
, 9(2), 205-227. Link to article


Working Papers

» Corporate Profit and Credit Spread Dynamics [8/14/2014]
   http://ssrn.com/abstract=2480308

» Banking Sector Performance and Credit Spread [7/27/2014]
   http://ssrn.com/abstract=2472721

» The Power of T-1 Returns [7/27/2014] http://ssrn.com/abstract=2472679

» Short Interest and Credit Spread Dynamics [7/26/2014]
   http://ssrn.com/abstract=2472386

» Economic Growth Risk: The Role of Foreign Development Assistance and Its
   Uncertainty [6/26/2014] http://ssrn.com/abstract=2459334

» Economic Growth, Stock Market Performance, Economic Growth Uncertainty and
   Foreign Participation in Local Equity Market: A Cross-Sectional Examination of 63
   Countries [5/12/2014]  http://ssrn.com/abstract=2436194

» Long-Term Private Sector External Debt and Equity Returns: Cross-Sectional Evidence    from 26 Emerging and Frontier Markets [5/11/2014]
   http://ssrn.com/abstract=2435716

» Economic Growth Risk and Stock Market Performance: Cross-Sectional
   Evidence from 70 Countries [5/8/2014]    http://ssrn.com/abstract=2434832

» A Comparative Analysis on the Volume-Return Relationship of the ETF and
   Stock Market   [4/28/2014]    http://ssrn.com/abstract=2430537

» Does Short Selling Erode Market Liquidity? [1/16/14]
   http://ssrn.com/abstract=2379931

» Global Stock Markets and Investment Opportunities in the United States [1/12/14]
   http://ssrn.com/abstract=2378041

» U.S. Credit Spread and Global Stock Markets [1/12/14]
   http://ssrn.com/abstract=2378040

» Can Retail Investors Drive Up Stock Prices? [10/15/13]
   http://papers.ssrn.com/abstract=2340801

» Stock Market Price-to-Earnings Ratio and Credit Spread: Dynamic Response and    Causality [10/04/13]  http://papers.ssrn.com/abstract=2335873

» Dynamic Response of Credit Spread to S&P 500 Dividend Yield Shock [10/03/13]
   http://ssrn.com/abstract=2335251

» Short Interest and Tobin’s Q Ratios: Dynamic Response and Causality [10/02/13]
   http://papers.ssrn.com/abstract=2334597

» Credit Spread and Aggregate Tobin's Q [09/30/13]
   http://papers.ssrn.com/abstract=2333317

» Dynamic Response of Market Dividend Yield and Price-to-Earnings Ratio to
   Corporate Profit Growth Shock [07/31/2013]    http://papers.ssrn.com/abstract=2304493

» Dynamic Response of Equity Market Returns to Corporate Profit Growth Shock
   [07/31/2013] http://papers.ssrn.com/abstract=2304471

» Stock Market Liquidity and Corporate Profit Growth [07/31/2013]
   http://papers.ssrn.com/abstract=2304487

» Tobin's Q and Stock Market Performance [07/14/2013]
   http://papers.ssrn.com/abstract=2293527

» Stock Market Dividend Yield and Tobin's Q [07/14/2013]
   http://papers.ssrn.com/abstract=2293520

» Commercial Real Estate Loan Delinquency and Real Estate Market Performance
   [07/7/2013]  http://papers.ssrn.com/abstract=2290804

» Commercial Bank Performance and Loan Delinquency [06/27/2013]
   http://papers.ssrn.com/abstract=2286040

» Stock Market Performance: High and Low Months [06/05/2013]
   http://ssrn.com/abstract=2275061
 
» Unemployment, Consumer Confidence, Business Confidence, Inflation and Monetary
   Policy [09/16/2012] http://papers.ssrn.com/abstract=2146497

» How Do Stock Returns on the U.S. Manufacturing Industry Respond to Raw Materials
   Price Shock? [08/29/2012] http://papers.ssrn.com/abstract=2137442

» Determinants of U.S. Government Bond Risk Premia [08/22/2012]
   http://papers.ssrn.com/abstract=2130164

» The Reaction of Stock Markets in the BRIC Countries to Economic Policy Uncertainty
   in the United States [07/12/2012] http://papers.ssrn.com/abstract=2094697
  
» Do Stock Markets in South Asia Respond to Economic Policy Uncertainty in the
   United States? [06/27/2012] http://papers.ssrn.com/abstract=2094688

» How Does Economic Policy Uncertainty in Europe Affect the the U.S. Stock Market?
   [07/24/2012] http://papers.ssrn.com/abstract=2094195

» Can Economic Policy Uncertainty in the United States Predict the Performance of
   Stock Markets in South America? [06/26/2012]
   http://papers.ssrn.com/abstract=2093687

» Does Economic Policy Uncertainty in the United States Have Any Impact on the Stock
   Market Performance in Australia and New Zealand? [06/27/2012]
   http://papers.ssrn.com/abstract=2092377

» How Do Stock Markets in China and Japan Respond to Economic Policy Uncertainty
   in the United States? [06/26/2012] http://papers.ssrn.com/abstract=2092346

» The Effect of Economic Policy Uncertainty in the United States on Stock Market
   Performance of the Asian Tiger Economies [06/26/2012]
   http://papers.ssrn.com/abstract=2092097

» A Trade-Off Analysis between Cost Reduction and Product Differentiation for
   Sustained Competitive Advantage [06/23/2011]
   http://papers.ssrn.com/abstract=1867905

   
© 2014 Vichet Sum, Ph.D