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Source and host country volatility and FDI: A gravity analysis of European investment to Middle East and North Africa

Nicet-Chenaf, Dalila; Rougier, Eric - HAL - 2014

generally given to host country characteristics. In a gravity set-up, we analyze FDI flows from European Union to MENA economies …. We find that European investment to our MENA host countries is higher, the lower the source country output volatility …, thereby supporting the existence of an income effect for European Transnational corporations. In the case of MENA economies …

Persistent link: https://www.econbiz.de/10010899395

The random walk hypothesis for Chinese stock markets: Evidence from variance ratio tests

Charles, Amélie; Darne, Olivier - HAL - 2009

This study examines the random walk hypothesis for the Shanghai and Shenzhen stock markets for both A and B shares, using daily data over the period 1992-2007. The hypothesis is tested with new multiple variance ratio tests - Whang-Kim subsampling and Kim's wild bootstrap tests - as well as the...

Persistent link: https://www.econbiz.de/10010898762

Share repurchase: Does it increase the informativeness of market prices?

Bruslerie, Hubert De La - HAL - 2013

Share repurchases are transactions which are supposed to cause a market reaction through a signaling approach. However looking only at cumulated abnormal returns (CARs) is insufficient and the results are sometimes contradictory. We introduce the concept of informativeness to assess if...

Persistent link: https://www.econbiz.de/10010898867

Precious metals shine? A market efficiency perspective

Charles, Amélie; Darné, Olivier; Kim, Jae H. - HAL - 2014

Precious metals (gold, silver, and platinum) have become an important part of investment portfolios for individuals as well as for institutions. A key question is whether investors should actively trade these metals to time the market or whether they should take a buy-and-hold strategy. This...

Persistent link: https://www.econbiz.de/10010899432

Stock Exchange Mergers and Market Efficiency

Charles, Amélie; Darné, Olivier; Kim, Jae H.; Redor, … - HAL - 2014

The aim of this paper is to examine the positive and negative impacts of stock exchange mergers on the informational efficiency of the markets. We consider a range of factors in relation to the stock exchange merger, that can potentially affects market efficiency, after a merger. These factors...

Persistent link: https://www.econbiz.de/10010899857

The efficiency of the crude oil markets: Evidence from variance ratio tests

Charles, Amélie; Darne, Olivier - HAL - 2009

This study examines the random walk hypothesis for the crude oil markets, using daily data over the period 1982-2008. The weak-form efficient market hypothesis for two crude oil markets (UK Brent and US West Texas Intermediate) is tested with non-parametric variance ratio tests developed by...

Persistent link: https://www.econbiz.de/10010712580

How Compatible is Perfect Competition with Transmission Loss Allocation Methods?

Dai, Jing; Phulpin, Yannick; Rious, Vincent; Ernst, Damien - HAL - 2008

This paper addresses the problem of transmission loss allocation in a power system where the generators, the demands and the system operator are independent. We suppose that the transmission losses are exclusively charged to the generators, which are willing to adopt a perfectly competitive...

Persistent link: https://www.econbiz.de/10008790441