Over the last two decades, a number of financial disasters have occurred due to failure in risk management procedures. If some, as the Asian financial crisis, had a very much more muted global impact (even though they sent shock waves through global financial markets, the main damage were fairly...

The aim of the paper is to verify whether the USD/EUR exchange rate market is efficient. The fundamental parity condition for testing foreign exchange market efficiency is represented by the uncovered interest-rate parity (UIP). Therefore, the UIP hypothesis verification accounts for the crucial...

The main result of this paper consists in the resolution of the inverse problem for the Black-Cox (1976) model, using the method proposed by Sukhomlin (2007). Based on the backward approach, we obtain an exact expression of the implied volatility expressed as a function of quantifiable market...

This paper examines the factors that affect inflows - outflows of capital in bond mutual funds that operated in the Greek market during the period 1997-2005. Investors in bond mutual funds do not seek for high gross returns in order to determine their investment decisions in contrast with...

Standard consumption-based models typically fail in pricing asset returns. In a famous seminal paper, Mehra and Prescott (1985), using a standard consumption model, prove the presence of a puzzle (i.e. equity premium puzzle). The recent financial literature still has to provide a convincing...

This study proposes a process for observing evidence of insider trading in the Athens Stock Exchange (ASE). This is performed by building an environment which, based upon previous research, common sense and information technology, may be used for observing such evidence. It is designed to be...

In this paper we study the possible effect it may have concerning the use of financial derivatives in the evolution of the share price of Mexican non-financial corporations, whether such contracts are used for hedging financial risks or for trading. The first part is a review of the literature...

When evaluating entrepreneurship at the national level, the influence of small and mediumsized enterprises (SMEs) on the state economic development is analyzed. Also, the impact of significant factors (goods and services competitiveness, innovations, diversification, clusterization, creating...

The paper aims at analyzing the impact of the recent economic crisis on the real convergence with the Euro area for ten countries from Central and Eastern Europe that joined the European Union in 2004 and 2007. We use 2000, 2008 and 2010 as benchmark years for our study and GDP per capita at...

In order to overcome the potential loss of information that the transition to the new National Classification of Economic Activities could provoke in EPA series, INE has proposed a methodology to link CNAE 1993 and CNAE 2009 series. The procedure is based on employing a national transition...