In this note, we consider the relationship between oil price volatility and firm returns for 560 firms listed on the New York Stock Exchange. Using daily time series data from 2000 to 2008, we find that oil price volatility increases firm returns for the majority of the firms in our sample.

In this note, we examine the size and power properties and the break date estimation accuracy of the Lee and Strazicich (LS, 2003) two break endogenous unit root test, based on two different break date selection methods: minimising the test statistic and minimising the sum of squared residuals...

In this note we examine the determinants of Oman's national savings for the period 1977-2003 using the bounds testing approach to cointegration. We use the ARDL model to estimate the long run and short run determinants of national savings. Our main finding is that the current account, the...

There is a large and growing literature that investigates evidence for mean reversion in stock prices. Empirically, there is no consensus as to whether stock prices are mean reverting or random walk processes at best, the results are mixed. In this paper, we provide further evidence on the mean...

In this note we examine the determinants of Oman's national savings for the period 1977-2003 using the bounds testing approach to cointegration. We use the ARDL model to estimate the long run and short run determinants of national savings. Our main finding is that the current account, the...

There is a large and growing literature that investigates evidence for mean reversion in stock prices. Empirically, there is no consensus as to whether stock prices are mean reverting or random walk processes at best, the results are mixed. In this paper, we provide further evidence on the mean...

For a sample of Shanghai firms, we find that while larger firms pay lower wages, managers in larger firms still receive higher wages. There are two reasons for this result. The wage gap between managers and non-managers is positively correlated with firm size and larger firms have a lower...

This note examines the relationship between inequality and happiness in urban China using a large-scale survey administered in 31 cities in September 2002. We find that those who perceive income distribution to be unequal report lower levels of happiness, although results differ between high and...

This note examines the relationship between inequality and happiness in urban China using a large-scale survey administered in 31 cities in September 2002. We find that those who perceive income distribution to be unequal report lower levels of happiness, although results differ between high and...