High momentum returns cannot be explained by risk factors, but they are negatively skewed and subject to occasional severe crashes. I explore the timing of momentum crashes and show that momentum strategies tend to crash in 1-3 months after the local stock market plunge. Next, I propose a simple...

We show that a market involving a handful of large-scale firms and a myriad of small-scale firms may give rise to different types of market structure, ranging from monopoly or oligopoly to monopolistic competition through new types of market structure. In particular, we find conditions under...

Recent studies of innovation behavior characteristics focus on analysis of microdata (enterprise level) as the key instrument to reveal facts and hypotheses describing the innovation activities under diverse economic, political and infrastructural conditions. This paper applies the...

The recent uprisings in the Middle East have cast doubt on the degree to which existing theories of autocracy can correctly identify which groups threaten the autocrats rule at any given time. As a result, these theories are unable to predict fundamental upheavals in established autocracies. Who...

In this paper we study antitrust intervention in long-term relationships between public procurer and his preferred supplier in one of the Russian regions. We presume that antitrust control of auctions held by affiliated procurer increases the risks of implementing long-term relationships with...

The paper examines the inconspicuous influence of the legacy of the classical natural law of the 18th century on Russian dogmatic jurisprudence of civil law, taking as an example the authoritative “Course on civil law” (1868-1880) by Konstantin Pobedonostsev. Despite the dogmatic purpose of...

A new kind of frequency dictionary is a valuable reference for researchers and students of Russian. It shows the grammatical profiles of nouns, adjectives, and verbs, namely the distribution of grammatical forms in the inflectional paradigm. The dictionary is based on data from the Russian...