Showing 1 - 10 of 7,684
Persistent link: https://www.econbiz.de/10013417192
We investigate execution quality issues in the OTC single-name credit default swap (CDS) market using confidential transactions-level trade repository data. Specifically, we analyze the impact of counterparties' matching and negotiation abilities on the terms of trade of CDS contracts, under...
Persistent link: https://www.econbiz.de/10012965198
The q-theory of asset pricing predicts a negative relation between a firm's investment and its future stock returns, and the negative relation is stronger among firms with higher investment frictions. These predictions arise from each firm's decision. Therefore, testing it does not require that...
Persistent link: https://www.econbiz.de/10012889417
concern over the "Trade War" between the US and China. We evaluate the market responses to this event for firms in both … countries, depending on their direct and indirect exposures to US-China trade. US firms that are more dependent on exports to … and imports from China have lower stock and bond returns but higher default risks in the short time window around the …
Persistent link: https://www.econbiz.de/10011927558
clients either in China itself or by opening offices worldwide. We thereby also open up questions about how the ‘linked … indigenous profession of accountants holding the CICPA qualification, in the context of the translation into China of … international accounting and auditing standards and the continuing rapid growth in China's own stock-markets and in its …
Persistent link: https://www.econbiz.de/10012930411
China has been accused exchange rate manipulation that has caused large U.S. trade deficits, which have reduced U … imbalances are deeply deleterious to China's welfare almost make it a moral imperative for the United States to use tariffs to … force an RMB appreciation for China’s own good. The truth, however, is that: - The claim that a 40 percent appreciation of …
Persistent link: https://www.econbiz.de/10014045825
As the largest-ever infrastructure project, China’s Belt and Road Initiative (BRI) is expected to reshape the global … findings on foreign aid, international trade, and BRI program membership highlight China's growing footprint in corridor …
Persistent link: https://www.econbiz.de/10014243347
We suggest a new measure to evaluate hedge funds - relative alpha. It links each hedge fund to a group of its peers in a straightforward, semi-parametric way. We allow for omitted factors, yet do not require knowledge of the true factor structure nor do we need to estimate any factor model. We...
Persistent link: https://www.econbiz.de/10012937965
Relations between China and the USA began with the best of intentions: the USA would sponsor the normalization of China …'s status in the international community through trade in exchange for China's commitment to peaceful co-existence with the west …. As an emerging economy, China has relied upon trade for export-led economic growth, mimicking the path taken by its …
Persistent link: https://www.econbiz.de/10013133704
We study crowded markets using a symmetric model of trading among strategic informed traders. Traders may have incorrect beliefs about markets' crowdedness; this distorts traders' strategies and market prices. When traders overestimate the crowdedness, they believe markets to be less liquid and...
Persistent link: https://www.econbiz.de/10012899668