The objective of this paper is to examine the absolute and risk-adjusted effects on distribution rates and total wealth created by adding loss-limiting trend following strategies to buy and hold portfolios. Using 150 years of equity and bond data, we found that applying trend following to...

Finance has become more a problem than a solution to what the world most wants: socially inclusive growth. It has become a source of crises that threaten the development of the real economy. It has escaped accountability to democratic institutions and often helped, instead, to influence and...

The implementation of a financial transaction tax has been the subject of debate for many years. Countries all across the globe have enacted various types of this tax and have seen different results depending upon factors such as the rate and the types of financial instruments affected by it....

Qatar and Dubai have established financial centres which have been based upon the common law jurisdiction of England and Wales because of the advantages such a system can give to the development of their respective financial services industries. The Qatar Financial Centre (QFC) and the Dubai...

International financial relations have largely been defined by cross-border trade, foreign direct investments, and global banking relations. This paper demonstrates that another activity, sovereign investments by special vehicles known as sovereign wealth funds, is rapidly redefining the...

The temporal relation between stock index and Index futures has been and continues to be of interest of regulators, academicians and practitioners alike for a number of reasons such as market efficiency volatility and arbitrage. In perfectly efficient markets profitable arbitrage should not...

This paper studies information blockages and the asymmetric release of information in a security market with fixed setup costs of trading. In this setting, 'sidelined' investors may delay trading until price movements validate their private signals. Trading thereby internally generates the...

Why do investors react to old information? We provide survey evidence to experimentally document that active finance professionals are more susceptible to old information when it comes as a recombination of content from multiple sources. To evaluate the market implications of this mechanism, we...

India has witnessed a limited progress in Agricultural Market Information Services (AMIS) confining to dissemination of the available information rather than improving its extent of coverage, quality and timeliness. The paper attempts to discuss the critical gaps in the existing system of AMIS...

We study the information content of about 3,300 global bank rating changes before and after the Lehman shock in September 2008 from an equity investor's perspective. Based on a multi-model event study approach, we find that while upgrades are not associated with significant abnormal bank stock...