Liquidity is an important attribute of an asset that investors would like to take into consideration when making investment decisions. However, the previous empirical evidence whether liquidity is a determinant of stock return is not unanimous. This dissertation provides a very comprehensive...

The purpose of this paper is to examine the linkage between FDI and trade in the case of Vietnam. To investigate this issue, firstly, we attempt to find out the causality relationship between FDI and trade of Vietnam, including exports and imports. Secondly, we try to find out the determinants...

This study establishes and tests a methodology to gauge global markets convergence, i.e., the long-run tendency of different markets to catch-up with a leading market. Under the globalization hypothesis, the differential speeds of the markets worldwide are hypothesized to show some tendencies...

This study revisits the predictability of individual stock returns by focusing on the investors' expectations of future stock prices. It hypothesizes that expectations cause events, and thus provide predictive power to forecast stock returns. Based on this premise, a model that relies on the...

We derive and empirically test a theoretical link between exchange rate volatility and global equity correlations. Starting with option-implied currency volatilities, we use variants of existing currency models, global capital flows, international parity, the Taylor rule, and some simplifying...

Short selling can be driven by various motivations, such as anticipation of negative returns, hedging, etc., which cause short positions to contain heterogeneous information. However, past studies focus primarily on short positions to predict negative stock returns. In this paper, we refine...

This paper investigates the surge and the eventual slowdown in global REITs in the 2000s. Further, it offers some investment strategies that this sector could offer to the investors. The paper contributes to the literature on the predictability of real estate securities returns over short to...

We investigate whether board independent directors mitigate firm’s securities litigation risks. We further analyze this inquiry with special attention to firm’s complexity, monitoring costs, and the relative benefits and costs of board independence. Separate and combined analyses of these...