The decisions of the European Parliament (EP) are shown to influence both EU emission allowance (EUA) prices and volatility. This is not a universal influence though, only the decisions which are either (i) parliament-led, as opposed to topical decisions originating from the political groups,...

The pricing of European emissions allowances (EUAs) is complicated by the market being driven by not just financial and economic factors, but also the harder-to-gauge uncertain influences of politics and policy. Drawing on a well-established literature showing sentiment to play an expanded role...

Sentiment is shown to influence both West Texas Intermediate (WTI) and Brent futures prices during the period 2002-2013. This is demonstrated while controlling for stock indices, exchange rates, financial costs, inventory and supply levels as well as OPEC activity. Sentiment indices are...

We propose a new real options analysis method for evaluating R&D investments using a novel Poisson process to simulate the discrete progress typical of R&D breakthroughs. We take explicit account of the technical risk of an R&D project, while the market risk and the effect of learning-by-doing...

We propose a new real options analysis method for evaluating R&D investments using a novel Poisson process to simulate the discrete progress typical of R&D breakthroughs. We take explicit account of the technical risk of an R&D project, while the market risk and the effect of learning-by-doing...

Recent research has identified the presence of behavioral influences on traders in predominantly professionally traded markets such as oil, gold, and foreign exchange. Previous research had largely confined behavioral-based investigations to equity markets due to an assumption that noise traders...

We use ultra high frequency (trade by trade) data to demonstrate that equity price clustering and pricing predictability around psychologically important prices in Greece switches away from drachma-focused with the introduction of the euro, but does not immediately switch to euro-clustering. The...

We create individual cultural values measures for households and show that this is an important determinant of their financial behavior. To date, personal cultural values have only been indirectly measured through religion and trust. But these are, at best, an approximation of true cultural...