Purpose – The recurrence of banking crises throughout the 1980s and 1990s, and in the more recent 2008‐09 global financial crisis, has led to an expanding empirical literature on crisis explanation and prediction. The purpose of this paper is to provide an analytical review of proxies for...

Purpose – Natural disasters may inflict significant damage upon international financial markets. The purpose of this study is to investigate if any contagion effect occurred in the immediate aftermath of the Japanese earthquake, tsunami and subsequent nuclear crisis....

Purpose – The purpose of this paper is to model the components of credit risk in primary debt markets and evaluate changes in these factors in times of crisis. Design/methodology/approach – The authors use a unique dataset consisting of nearly 163,000 new loans and bond issues in the USA and...

Purpose – Do regional equity market conditions (bear market) affect the financial performance of firms involved in cross-border mergers and acquisitions (M & A)? If so, is there a clear difference between inward and outward M & A in selected regions? The author addresses these questions using...

Purpose – The purpose of this paper is to examine cash savings from six potential sources of cash: net equity issues, net debt issues, internally generated cash flows, asset sales, changes in short-term debt, and changes in net working capital. Design/methodology/approach – The authors use...

Purpose This paper investigates market-wide herding behavior among investors in the stock markets of Brazil, Chile, Colombia and Mexico from January 2013 to December 2022. Design/methodology/approach We analyze a survivor-bias-free dataset of daily stock returns, employing a measure reflecting...

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...