Narrow search
Showing 1 - 10 of 773
Cover Image
When Cryptomining Comes to Town : High Electricity-use Spillovers to the Local Economy
Benetton, Matteo; Compiani, Giovanni; Morse, Adair - National Bureau of Economic Research - 2023
Cryptomining, the clearing of cryptocurrency transactions, uses large quantities of electricity. We document that …
Persistent link: https://www.econbiz.de/10014322700
Cover Image
The European Union, the Euro, and Equity Market Integration
Bekaert, Geert - 2010
equity market integration in Europe. We use a simple and essentially model free measure of bilateral market segmentation: two … even after we control for several possible channels of integration, such as bilateral trade, direct investment positions … the Euro adoption has minimal effects on market integration …
Persistent link: https://www.econbiz.de/10012462074
Cover Image
R-Squared Around the World : New Theory and New Tests
Jin, Li - 2004
Morck, Yeung and Yu (MYY, 2000) show that R2 and other measures of stock market synchronicity are higher in countries with less developed financial systems and poorer corporate governance. MYY and Campbell, Lettau, Malkiel and Xu (2001) also find a secular decline in R2 in the United States over...
Persistent link: https://www.econbiz.de/10012468240
Cover Image
Financial Integration : A New Methodology and an Illustration
Flood, Robert P. - 2003
This paper develops a simple new methodology to test for asset integration and applies it within and between American …
Persistent link: https://www.econbiz.de/10012468817
Cover Image
Long-Term Global Market Correlations
Goetzmann, William N. - 2001
correlations vary considerably through time and are highest during periods of economic and financial integration such as the late …
Persistent link: https://www.econbiz.de/10012470104
Cover Image
Volatiltiy and Links Between National Stock Markets
King, Mervyn - 1990
The empirical objective of this study is to account for the time-variation the covariances between markets. Using data on sixteen national stock markets, we estimate a multivariate factor model in which the volatility of returns is induced by changing volatility in the orthogonal factors. Excess...
Persistent link: https://www.econbiz.de/10012475676
Cover Image
Shared Analyst Coverage : Unifying Momentum Spillover Effects
Ali, Usman - 2018
Identifying stock connections by shared analyst coverage, we find that a connected-stock (CS) momentum factor generates a monthly alpha of 1.68% (t = 9.67). In spanning regressions, the alphas of industry, geographic, customer, customer/supplier industry, single- to multi-segment, and technology...
Persistent link: https://www.econbiz.de/10012480853
Cover Image
A Liberalization Spillover : From Equities to Loans
Liu, Xin - 2020
The opening of equity markets to foreign investment appears to generate an enormously large positive growth effect (see Bekaert, Harvey, and Lundblad, 2005) in spite of a relatively small role of such markets for financing investment in most economies. We propose a possible spillover channel...
Persistent link: https://www.econbiz.de/10012481499
Cover Image
Information, analysts, and stock return comovement
Hameed, Allaudeen - 2010
We examine information spillover as a source of stock return synchronicity, where information about highly-followed "prominent" stocks is used to price other "neglected" stocks sharing a common fundamental component. We find that stocks followed by few analysts co-move significantly with...
Persistent link: https://www.econbiz.de/10012462818
Cover Image
Measuring Financial Asset Return and Volatility Spillovers, With Application to Global Equity Markets
Diebold, Francis X. - 2008
We provide a simple and intuitive measure of interdependence of asset returns and/or volatilities. In particular, we formulate and examine precise and separate measures of return spillovers and volatility spillovers. Our framework facilitates study of both non-crisis and crisis episodes,...
Persistent link: https://www.econbiz.de/10012464836