It is a stylised fact in the fields of economic growth theory and economic history that innovation is the engine of economic growth. Like the technological innovations, innovations in the financial sector are expected to change all aspects of economic activity, bringing about a greater...

The stock market volatility has drastically increased in recent days and economies are currently passing through a turbulent period, as reflected in all financial markets and asset classes. The global economic slowdown, the US real estate decline, the credit crisis and the recent reversal in the...

The study of stock market efficiency has been the objective of many researches across the globe since the last few decades. But the evidence is mixed on whether the stock market is efficient. While some studies conclude that the stock markets are efficient, other studies cast doubt on this...