We examine the influence of two distinct regime changes in US border security on the number of persons traveling from the US into Mexico on day trips. In contrast to increases in overall US tourism to Mexico and rapidly growing trade linkages, day trips to Mexico fell by over 20 % between 2000...

Although the literature on the benefits of diversifying equity portfolios to emerging markets is abundant, the role of frontier markets in global equity portfolio diversification is clearly less examined. We contribute to the existing literature by examining three different, though closely...

Although there is an increasing demand for sustainable investment products accompanied by increasing regulations regarding sustainability disclosures, people suffer from a lack of information concerning the offered investment products' sustainability. Despite hundreds of ESG indicators for...

We use a choice experiment on equity fund investments to estimate the preferences of young adults for sustainable investments relative to conventional investment funds. Our results suggest that the traditional trade-off between investment fund risk and return is still valid in the selection of...

Strategies that overweight low beta stocks and underweight high beta stocks earn positive alphas. Price noise is known to affect high beta stocks, hence, noise trading can be expected to significantly affect the performance of these strategies. I study the impact of flows between bond and equity...

Foreign investors' fear of expropriation led to the emergence of the idea of new ways of protection and adequate treatment of foreign investments on the international level. Primarily, the home countries wanted to protect their interests and became the main proponents of the creation of...

The exponential growth in popularity of ETFs over the last three decades has solidified ETFs as an essential component of many investors' portfolios. Investor sentiment is one of the factors that influence market returns of ETFs during times of market volatility. This article highlights the gap...

Investment funds are increasingly investing in other funds. I study the implications of this using Czech fund data from 2011 to 2022. Cross-fund holdings boosted diversification and returns, albeit with increased volatility. Moreover, the funds primarily sold fund shares compared to other assets...

Stakeholders have become increasingly interested in sustainable practices, leading to intense investigation in the literature of their effects on companies' returns. However, not much information is available about the effect of environmental, social, and governance (ESG) controversy on...

This study investigates the tail dependence structures of sovereign credit default swaps (CDSs) and three global risk factors in BRICS countries using a copula approach, which is popular for capturing the “true” tail dependence based on the “distribution-adjusted” joint marginals. The...