It is a common assertion that, in a world with perfect markets and rational expectations, endogenous cycles could only arise under very unrealistic assumptions. This paper offers a short discussion on this claim and a review of the relevant contributions to the literature on deterministic...

Linear asset-pricing relations, with macroeconomic factors as state variables, have found wide usein empirical finance. Applications of such relations range from academic studies of market efficiency andmarket anomalies to practical uses such as risk management and estimation of the cost of...

Purpose – The purpose of the paper is to explore whether there is any relationship(s) between social and environmental disclosure and the financial market performance of the UK's largest companies. Design/methodology/approach – Two data sets were used in the study. The CSEAR database of UK...

Purpose – The economic system is an expectation's feedback system, thus decisions made by economic agents are based on their expectations about the future state of the economy. These decisions affect actual realization of economic variables and this process leads to the new expectations. For a...

Purpose – The purpose of this paper is to illustrate a business process modelling approach based on: the incorporation of the best practices in the industry; higher reliability standards for operation; real‐time settlement; improved security; and transparency in the process and information...

Daniel Ben‐Ami, author of Cowardly Capitalism: The Myth of the Global Financial Casino, argues that the popular view of the global financial markets as some sort of irresponsible and volatile casino is fundamentally wrong. He argues that the financial markets have been as susceptible as...

Purpose – There is a distinct separation of price discovery from pricing power in China's sugar spot and futures markets. The purpose of this paper is to identify the reasons and provide plausible explanations for this stylized phenomenon. Therefore, the research may deepen the understandings...

Purpose – The first public share offer represents a crucial step in the life of a company. When the firm places shares linked to its business activity on sale in the financial markets, it is taking a strategic decision of major importance because this is going to involve shareholders who will...

Purpose – The research aims to draw a detailed picture of how international corporate banks and financial institutions approach image advertising to enhance impressions of their credibility. The purpose of the work is twofold, namely to demonstrate how corporate credibility can be...

Purpose The purpose of this paper is to investigate the relationships of news media coverage and the performance of initial public offerings (IPOs) in Germany. The aim is to find out how media attention, media sentiment, corporate information, and recency of news are related to the flotation...