The main focus of the current study was to investigate 33 major stock indices on a weekly basis to fill the void concerning fresh information in the context of co-movement of markets as a result of the Global Financial Crisis. Factor analysis was applied through two methods, principle component...

Recent research suggests that the power law is one of the most universal laws in nature and it also seems to work quite fine in economics and finance. In this paper we show that the power law explains extremely well the relationship between the value of broad-based market indices and their...

This study deals with the issue whether gold actually exhibits the function of a hedge or a safe haven as often referred to in the media and academia. In order to test the Baur and Lucey (2010) hypotheses, we contribute to the existing literature by the augmentation of their model to a smooth...