This paper investigates the CDS pricing errors (CPEs) properties. I find that CPEs can significantly predict future CDS returns reversal. Consistent with mispricing channel, the predictability of CPE is particularly strong for CDS contracts with poor liquidities and for periods with high...

This paper provides a non-information-based explanation to the stock price synchronicity for firms sorted by the country, size-decile and industry sector. Using a panel of listed firms in 40 countries spanning over 23 years, we find that the governance and the market size effects are highly...