We use industry valuation differentials across European countries to study the impact of membership in the European Union as well as the Eurozone on economic and financial integration. In integrated markets, discount rates and expected growth opportunities should be similar within one industry,...

IBOR manipulation imposed new benchmark regulations that force the market to enter a path of a reform of existing financial indices and creation of the new ones. The paper describes an evolution of two IBOR panels: one representing a global financial benchmark: LIBOR and the other representing a...