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Predictability of Asset Returns and the Efficient Market Hypothesis

Pesaran, M. Hashem - 2010

This paper is concerned with empirical and theoretical basis of the Efficient Market Hypothesis (EMH). The paper begins with an overview of the statistical properties of asset returns at different frequencies (daily, weekly and monthly), and considers the evidence on return predictability, risk...

Persistent link: https://www.econbiz.de/10013141228

Investor Protection and the Value of Shares : Evidence from Statutory Rules Governing Variations of Shareholders' Class Rights in Russia

Muravyev, Alexander - 2010

This paper uses a quasi-experimental framework provided by recent changes in Russian corporate law to study the effect of investor protection on the value of shares. The legal change analyzed involves the empowerment of preferred (non-voting) shareholders to veto unfavorable changes in their...

Persistent link: https://www.econbiz.de/10013149514

What Does Codetermination Do?

Jäger, Simon; Noy, Shakked; Schoefer, Benjamin - 2022

We provide a comprehensive overview of codetermination, i.e., worker representation in firms' governance and management. We cover the institution's history, implementation, and the best available evidence on its economic impacts. We argue that existing quasi-experimental estimates suggest that...

Persistent link: https://www.econbiz.de/10014088219

When the Market Drives You Crazy : Stock Market Returns and Fatal Car Accidents

Giulietti, Corrado - 2018

The stock market influences some of the most fundamental economic decisions of investors, such as consumption, saving, and labor supply, through the financial wealth channel. This paper provides evidence that daily fluctuations in the stock market have important - and hitherto neglected -...

Persistent link: https://www.econbiz.de/10012912252

Investigating the Asymmetric Impact of Oil Prices on GCC Stock Markets

Ben Cheikh, Nidhaleddine; Ben Naceur, Samy; Kanaan, … - 2021

This paper investigates the presence of asymmetric relationship between oil price movements and Gulf Cooperation Council (GCC) stock markets. We propose the implementation of nonlinear vector smooth transition regression (VSTR) models which offer a greater flexibility when modelling the possible...

Persistent link: https://www.econbiz.de/10013314986

Labour Market Signalling and Unemployment Duration : An Empirical Analysis Using Employer-Employee Data

Frederiksen, Anders - 2006

This paper tests the signalling hypothesis using detailed flow-based employer-employee data from Denmark. The primary … plausible estimates of the signalling effect. It is established that the positive ability signal of being displaced due to a … previously been ignored in the empirical analysis of the signalling hypothesis such as local labour market conditions, the sector …

Persistent link: https://www.econbiz.de/10012780037

A Signal of (Train)Ability? Grade Repetition and Hiring Chances

Baert, Stijn - 2020

positive reaction. This finding is consistent with Queuing theory …

Persistent link: https://www.econbiz.de/10012828000

Marriage Market Signals and Homeownership for the Never Married

Mundra, Kusum - 2018

There is a growing trend of buying homes among the single population in the U.S. This trend has been referred to as "Going Solo" and is particularly evident among women who are the focus of our study. In this paper we investigate the hypothesis that homeownership probabilities can be affected by...

Persistent link: https://www.econbiz.de/10012908894

The Signal of Applying for a Job Under a Vacancy Referral Scheme

Van Belle, Eva - 2018

prospective employers. We investigate this signalling effect in the context of a job-vacancy referral system. To this end, we …

Persistent link: https://www.econbiz.de/10012915745

The Expected (Signaling) Value of Higher Education

Ehrmantraut, Laura - 2020

This paper explores students' expectations about the returns to completing higher education and provides first evidence on perceived signaling and human capital effects. We elicit counterfactual labor market expectations for the hypothetical scenarios of leaving university with or without a...

Persistent link: https://www.econbiz.de/10012822459