Utilizing the Trade Reporting and Compliance Engine (TRACE) setting as an exogenous shock to bond market transparency, we find that improved bond market transparency leads to lower crash risk in the stock market, consistent with increased information spillover from the bond market into the stock...

The purpose of this paper is to measure the financial connectedness and spillover transmission among stock markets between BRICS economies and the rest of the world in the wake of the ongoing Ukrainian crisis in. The paper compares the effect of three different shocks and crises (GFC, COVID-198,...

This paper examines the effects of superstitious psychology on investors’ decision making in the context of Mercury retrograde, a special astronomical phenomenon meaning “everything going wrong.” Using natural experiments in the Chinese stock market, we find that stock prices fall...