This paper investigates stock market reaction to debt arrangements in Russia. The analysis of the valuation of debt arrangements by stock markets provides information about the use of debt by Russian companies. We apply the event study methodology to check whether debt announcements lead to...

The World Trade Organization ('WTO') is the principal international institution for the management and regulation of the process of economic globalization. Its effectiveness in fulfilling this important task, however, leaves much to be desired. On 4 and 5 February 2005, the Faculty of Law of...