This paper addresses difficulties in modelling exchange rates in South Africa. Real exchange rate models of earlier research seem to be sensitive to the sample period considered, alternative variable definition, data frequency and estimation methods. Alternative exchange rate models proposed in...

Participation of a country to obtain the credit, of any kind, making imports and exports by a country or by its financial and trade companies, involves to be taken into account the risks that evolve from this involvement. Through this article I want to present the factors that generate the...

This study reports how country risk and macroeconomic conditions influence the wealth gains of U.S. financial firms involved in international mergers and takeovers. The findings suggest that U.S. financials experience weakly significant wealth gains around announcement date. The wealth gains are...

Country risk approach, although not new, is in the foreground investor’s concerns whenever a crisis affecting the solvency of a country or a group of countries and endangers the claims directly owned on that state, national company or other entity. The rating agencies are the main, but the...

Within the last few years, the main international rating agencies have become even more prominent. They are men¬tioned in different circumstances. Some people think these agencies are managed by international speculators; others consider that their work is too technical and impartial, and...

Despite the increasing relevance for international business, international assignments in terrorism-endangered countries have hardly been analyzed. Applying a social network perspective, this study investigates the impact of expatriate social network characteristics on psychological well-being...

[ES] Partiendo de los valores semestrales de cada una de las nueve variables que componen el índice de riesgo país elaborado por Euromoney, en el periodo comprendido entre septiembre de 1992 y septiembre de 2002, para 41 países europeos y 30 países americanos, los autores proponen la...

Investing or trading in a country, whether domestic or foreign, involves some elements of risks and uncertainties depending upon its systemic, economic, financial, political, and business operating environments. Understanding the phenomenon of country risk is enormously vital for global...

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...

The driving force behind the well-documented medium term momentum effect in stock returns is subject of much debate. Empirical papers that aim to find the determinants of this return continuation, seem to be almost exclusively restricted to US stock markets. Consequently, regional effects have...