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Reputation, price, and death: an empirical analysis of art price formation
Ursprung, Heinrich W.; Wiermann, Christian - 2008
We analyze how an artist's death influences the market prices of her works of art. Death has two opposing effects on art prices. By irrevocably restricting the artist's oeuvre, prices, ceteris paribus, increase when the artist dies. On the other hand, an untimely death may well frustrate the...
Persistent link: https://www.econbiz.de/10010276896
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Hard Assets : The Returns on Rare Diamonds and Gems
Renneboog, Luc - 2013
-induced demand for luxury consumption in collectibles markets …
Persistent link: https://www.econbiz.de/10013093433
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A call on Art investments
Kraeussl, Roman; Wiehenkamp, Christian - 2010
The art market has seen boom and bust during the last years and, despite the downturn, has received more attention from investors given the low interest environment following the financial crisis. However, participation has been reserved for a few investors and the hedging of exposures remains...
Persistent link: https://www.econbiz.de/10010303744
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Investment Returns and Economic Fundamentals in International Art Markets
Renneboog, Luc; Spaenjers, Christophe - 2020
Works of art are neither easily tradable across borders, nor evaluated according to globally identical standards. We examine geographical segmentation and its effects on price formation and returns in the international art auction market. We find (i) a close connection between the country of...
Persistent link: https://www.econbiz.de/10014148287
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How News and Its Context Drive Risk and Returns around the World
Calomiris, Charles W. - 2020
We develop a classification methodology for the context and content of news articles to predict risk and return in stock markets in 51 developed and emerging economies. A parsimonious summary of news, including topic-specific sentiment, frequency, and unusualness (entropy) of word flow, predicts...
Persistent link: https://www.econbiz.de/10012854443
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Credit Ratings of Domestic and Global Agencies : What Drives the Differences in China and How are They Priced?
Jiang, Xianfeng - 2017
The market for the credit ratings of Chinese firms is large and growing. We focus our analysis on the firms that have ratings from both domestic and global agencies. Despite the similar symbols, the rating scales of the domestic and global agencies differ: domestic agencies rate firms that are...
Persistent link: https://www.econbiz.de/10012953020
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China Markets and Global Stock Return Predictability
Sun, Yulong - 2020
We have seen China's growing role in the past decades, and the world economy has become more exposed to the influence … of China. This paper explores emerging China's impact on the global equity market through the lens of asset pricing. We … study the predictive properties of the lagged China returns for global stock returns and find that the lagged China returns …
Persistent link: https://www.econbiz.de/10012824300
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Network Effects in Currency Internationalisation : Insights from BIS Triennial Surveys and Implications for the Renminbi
He, Dong - 2014
international currency. If the renminbi were to become a dominant international currency, it would require China to attain a much …
Persistent link: https://www.econbiz.de/10013046848
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Market Integration and Asset Prices : Evidence from the Inclusion of China A-Shares in MSCI Global Indices
Li, Bo; Sun, Qian - 2022
We examine the stock price reactions to the mass inclusion of China A-shares in the Morgan Stanley Capital …
Persistent link: https://www.econbiz.de/10013292527
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Green bonds as hedging assets before and after COVID : a comparative study between the US and China
Guo, Dong; Zhou, Peng - 2021
applied to estimate the joint distributions between green bonds and selected financial assets in both US and China. The … found that green bonds in the US and China converge in many aspects, suggesting a smaller cross-country difference than …
Persistent link: https://www.econbiz.de/10013175797