Since the outbreak of the COVID-19 pandemic, stock markets around the world have experienced unprecedented declines, which have resulted in extremely high stock market uncertainty, measured as price variation. In this paper, we show that during such periods, Google Trends data represent a timely...

We test a sample of 3,586 banks from 33 European countries to determine whether performances above or below a social aspiration level (median performance of peer banks) influence banks’ aggregate risk levels. Our results are consistent with the behavioral theory of the firm and prospect theory...

In our network analysis of 40 developed, emerging and frontier stock markets during 2006-2014, we describe and model volatility spillovers during global financial crisis and tranquil periods. The resulting market interconnectedness is depicted by fitting a spatial model incorporating several...

We test a sample of 3,586 banks from 33 European countries to determine whether performances above or below a social aspiration level (median performance of peer banks) influence banks' aggregate risk levels. Our results are consistent with the behavioral theory of the firm and prospect theory...

In this article, we study the possible explanatory power of macroeconomic factors that may drive the stock market integration between the Czech Republic, Poland and Hungary (CEE-3) and developed countries, using Germany as a benchmark. Our findings suggest that the recent global financial crisis...

The authors analyze several monthly and quarterly macroeconomic time series for the Czech Republic, Poland, Hungary, and Slovakia. These countries embarked on an economic transition in the early 1990s which ultimately led to their membership in the European Union, with Slovakia joining the euro...