Narrow search
Showing 1 - 10 of 370
Cover Image
Market structure and the cost of capital
Arouri, Mohamed El Hedi; Rault, Christophe; Sova, Robert; … - 2013
We contribute to the finance literature in two main ways. First, we present a theoretical capital asset pricing model (CAPM) to price assets in different market structures. Second, we use our model to analyze whether when markets are partially segmented using the local or the global CAPM yields...
Persistent link: https://www.econbiz.de/10010291538
Cover Image
Footsie, Yeah! Share Prices and Worker Wellbeing
Bryson, Alex; Clark, Andrew E.; Green, Colin P. - 2021
A small literature has shown that individual wellbeing varies with the price of company stock, but it is unclear whether this is due to wealth effects among those holding stock, or more general effects on sentiment, with individuals taking rising stock prices as an indicator of improvements in...
Persistent link: https://www.econbiz.de/10012658285
Cover Image
Employee Stock Purchase Plans: Gift or Incentive? Evidence from a Multinational Corporation
Bryson, Alex; Freeman, Richard B. - 2014
Many large listed firms offer workers the opportunity to buy shares in the firm at discounted rates through employee stock purchase plans (ESPP). The discounted rate creates a gift exchange, where the firm hopes that workers who accept the gift reciprocate with greater loyalty and effort. But...
Persistent link: https://www.econbiz.de/10010435263
Cover Image
Investment Behaviour of German Equity Fund Managers - An Exploratory Analysis of Survey Data
Arnswald, Torsten - 2001
In order to shed light on the "black box" of institutional equity investing in a systematic manner, I conducted a broadly based questionnaire which received a large response from German mutual fund companies. The survey asked fund managers for their basic views and practices and for insights...
Persistent link: https://www.econbiz.de/10010295706
Cover Image
The quality of price formation at market openings and closings: Evidence from the Nasdaq stock market
Pagano, Michael S.; Peng, Lin; Schwartz, Robert A. - 2008
We assess the quality of opening and closing prices for Nasdaq stocks by examining the effect that opening and closing call auctions (introduced in 2004) have had on price formation. Our use of measurement intervals of one minute or less sharpens the picture of intra-day volatility...
Persistent link: https://www.econbiz.de/10010303693
Cover Image
Political Crises and Risk of Financial Contagion in Developing Countries: Evidence from Africa
Asongu, Simplice A. - 2011
increasingly integrated. Secondly, we have also shown that international financial market transmissions not only occur during …
Persistent link: https://www.econbiz.de/10011390766
Cover Image
Globalization, financial crisis and contagion: time-dynamic evidence from financial markets of developing countries
Asongu, Simplice A. - 2011
Financial integration among economies has the benefit of improving allocation efficiency and diversifying risk. However the recent global financial crisis, considered as the worst since the Great Depression has re-ignited the fierce debate about the merits of financial globalization and its...
Persistent link: https://www.econbiz.de/10011390767
Cover Image
Why is Price Discovery in Credit Default Swap Markets News-Specific?
Marsh, Ian W.; Wagner, Wolf - 2012
We analyse daily lead-lag patterns in US equity and credit default swap (CDS) returns. We first document that equity returns robustly lead CDS returns. However, we find that the CDS-lag is due to common (and not firm-specific) news and arises predominantly in response to positive (instead of...
Persistent link: https://www.econbiz.de/10010326281
Cover Image
The global crisis and equity market contagion
Bekaert, Geert; Ehrmann, Michael; Fratzscher, Marcel; … - 2014
We analyze the transmission of the financial crisis of 2007 to 2009 to 415 country-industry equity portfolios. We use a factor model to predict crisis returns, defining unexplained increases in factor loadings and residual correlations as indicative of contagion. While we find evidence of...
Persistent link: https://www.econbiz.de/10010328201
Cover Image
The euro and international capital markets
Detken, Carsten; Hartmann, Philipp - 2000
This paper provides a broad empirical examination of the major currencies' roles in international capital markets, with … viewpoint of international financing as well as from the one of international investment activities. Time series of these new … currency distribution of international portfolio investments, such as relative market liquidity and relative risk …
Persistent link: https://www.econbiz.de/10011604065