The importance of capital structure to corporate financial stability, growth and adequate returns and liquidity cannot be undermined most especially in the midst of recent global financial crises has led to urgent need to embark on this study. The paper used microdata sourced from the financial...

This paper examines the role of algorithmic trading in modern financial markets. Additionally, order types, characteristics, and special features of algorithmic trading are described under the lens provided by the large development of high frequency trading technology. Special order types are...

Montre en quel sens la mondialisation s'est accompagnée d'une augmentation considérable de la quantité de risques financiers, ce qui a été l'élément déterminant du déclenchement de la crise de septembre 2008.

In this study, we revisit the link between R2 (synchronicity) and earnings management (opacity) because of the importance of the ongoing debate on the relation between idiosyncratic risk and earnings management in the finance and accounting literatures. Hutton et al. (J. Financial Economics,...

This paper tries to identify, for the first time, a chronology for the Portuguese stock market cycle and test for the presence of duration dependence in bull and bear markets. A duration-dependent Markov-switching model is estimated over monthly growth rates of the Portuguese stock index for the...

The risk-neutral process is modeled by a four parameter self-similar process of independent increments with a self-decomposable law for its unit time distribution. Six different processes in this general class are theoretically formulated and empirically investigated. We show that all six models...