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The recent plunge in oil prices has brought into question the generally accepted view that lower oil prices are good for the United States and the global economy. In this paper, using a quarterly multi-country econometric model, we first show that a fall in oil prices tends relatively quickly to...
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has been relatively limited analysis of the dividend behavior of multinationals. We find that investors in multinationals … dividends, consistent with a view that such regular dividend payments are a mechanism through which to discipline host …-country managers. In contrast, German investors, who tend to invest in riskier countries, do not appear to demand persistent dividend …
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Demutualization is a term used to describe the transition of a securities exchange from a mutual association of exchange members operating on a not-for-profit basis to a limited liability, for-profit company accountable to shareholders. Demutualization in its many forms has become a widespread...
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A taxonomy of existing and planned automated trade execution systems in financial markets is provided. Over 50 automated market structures in 16 countries are analyzed. The classification scheme is organized around the principle that such markets consist of an algorithm that performs a trade...
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