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How does investor sentiment affect stock market crises? Evidence from panel data
Zouaoui, M.; Nouyrigat, G.; Beer, F. - HAL - 2010
We test the impact of investor sentiment on a panel of international stock markets. Specifically, we examine the influence of investor sentiment on the probability of stock market crises. We find that investor sentiment increases the probability of occurrence of stock market crises within a...
Persistent link: https://www.econbiz.de/10008790351
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Can the Mortensen-Pissarides Model Match the Housing Market Facts ?
Lisi, Gaetano - HAL - 2012
This paper examines whether the baseline Mortensen-Pissarides matching model can account for the housing market facts, namely, the existence of price dispersion, the positive correlation between housing price and trading volume, and between housing price and time-on-the-market. Our main finding...
Persistent link: https://www.econbiz.de/10009652973
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Liquidity generated by heterogeneous beliefs and costly estimations
Shen, Min; Turinici, Gabriel - HAL - 2012
We study the liquidity, defined as the size of the trading volume, in a situation where an infinite number of agents with heterogeneous beliefs reach a trade-off between the cost of a precise estimation (variable depending on the agent) and the expected wealth from trading. The "true" asset...
Persistent link: https://www.econbiz.de/10010548256
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Liquidity generated by heterogeneous beliefs and costly estimations
Shen, Min; Turinici, Gabriel - HAL - 2012
We study the liquidity, de ned as the size of the trading volume, in a situation where an in nite number of agents with heterogeneous beliefs reach a trade-o between the cost of a precise estimation (variable depending on the agent) and the expected wealth from trading. The \true" asset price is...
Persistent link: https://www.econbiz.de/10010550926
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Trading Volume and Market Efficiency: An Agent Based Model with Heterogenous Knowledge about Fundamentals
Lespagnol, Vivien; Rouchier, Juliette - HAL - 2014
This paper studies the effect of investor's bounded rationality on market dynamics. In an order driven market, we consider a few-types model where two risky assets are exchanged. Agents differ by their behavior, knowledge, risk aversion and investment horizon. The investor's demand is defined by...
Persistent link: https://www.econbiz.de/10010933931
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Tobin tax and trading volume tightening: a reassessment
Damette, Olivier; Goutte, Stéphane - HAL - 2014
This article extends the previous literature on the Tobin tax and financial transaction tax. We investigate the linkages between trading volumes and transaction costs using both a linear and a nonlinear methodology. In stark contrast with previous studies, we consider the possibility that our...
Persistent link: https://www.econbiz.de/10010821381
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Stochastic dominance with respect to a capacity and risk measures
Grigorova, Miryana - HAL - 2011
Pursuing our previous work in which the classical notion of increasing convex stochastic dominance relation with respect to a probability has been extended to the case of a normalised monotone (but not necessarily additive) set function also called a capacity, the present paper gives a...
Persistent link: https://www.econbiz.de/10009368022
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Confucianism and its implications for industrial relations in China
Laulusa, Leon - HAL - 2008
This study aims to examine the impact of Confucian values on industrial relations in China. The existing literature … suggests that these values have a significant influence on industrial relations in China. Authors commonly report that Chinese … industrial relations are peculiar and different from those found in some Western counties. Particularly, in China, trade unions …
Persistent link: https://www.econbiz.de/10009208413
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Strategic Interactions in Environmental Regulation Enforcement: Evidence from Chinese Provinces
Renard, Mary-Françoise; Xiong, Hang - HAL - 2012
towards China's decentralization of environment policy implementation as well as its fiscal arrangements. …
Persistent link: https://www.econbiz.de/10009651572
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Determinants of FDI into China and Vietnam: A comparative study
Pham, Thi-Hong-Hanh - HAL - 2012
Since the inception of economic reforms, China in 1978 and Vietnam in 1986, both countries have become successful … between China and Vietnam?" through a comparative study of the FDI determinants. In other words, this paper revisits the … determinants of FDI into China and Vietnam by employing an augmented gravity model and using a panel dataset containing information …
Persistent link: https://www.econbiz.de/10009651580