Motivated by the rapid spread of novel coronavirus COVID-19 outbreak in the world. This study explores the stock markets' response to the global COVID-19 pandemic in developing countries. We make use of a panel dataset including 685 observations from 13 countries in the Middle East and North...

This article examines announcement effects of 240 international joint ventures undertaken by firms to ascertain their impact on shareholders' wealth. The positive-multinational-network hypothesis suggests that the market reaction should be related to the option value of the venture. To test the...

The recent waves of political crises in Africa and the Middle East have inspired the debate over how political instability could pose a risk of financial contagion to emerging countries. With retrospect to the Kenyan political crisis, our findings suggest stock markets in Lebanon, Mauritius were...

This paper examines key determinants of the distance between the sovereign's credit rating and the ratings of sub-sovereign foreign currency bonds, such as bond issuers' type, debt characteristics, and global and country's economic conditions. Using a comprehensive international bond-level...

We investigate the relationship between the daily release of COVID-19 related announcements, defensive government interventions, and stock market volatility, drawing upon an extended time period of one year, to independently test, confirm and iteratively improve on previous research findings. We...

Recent financial crises including the ongoing one caused by the COVID-19 pandemic have consistently drawn attention to the need to strengthen the quality of public debt management in emerging markets and developing countries. Deeper and more efficient domestic government debt markets-being, a...

The recent financial crisis and the corresponding market crash have had a tremendous impact on investors with significant exposures to equity markets but without appropriate risk control tools. Indeed, within just a few weeks a number of pension funds, university endowments, and mutual funds...

In this paper, we analyse historical stock market volatility and co-movement behaviour of three emerging markets and three developed economies from January 2001 to December 2012. We find evidence that the sample of emerging economies exhibits higher stock market volatility during the study...

The paper examines the stock markets of 41 countries over a 10 year period from January 1996 to December 2005 using the classical stock synchronicity measure developed by Morck et al. (2000). The study finds evidence that stock markets in emerging economies are more synchronous than in developed...

This paper analyses stock synchronicity measures proposed by Morck et al (2000), the classical measure and the R square measure. The Study finds evidence that stock markets of emerging economies are more synchronous than the developed economies using both the synchronicity measures. It is found...