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A healthy financial system encourages the efficient allocation of capital and risk. The collapse of the house price bubble led to the financial crisis that started in 2007. There is a large empirical literature concerning the relation between asset price bubbles and financial crises. I evaluate...
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Enforcing corporate transparency is one of the main objectives of corporate governance. Additionally, it is one of the … information, too, to maximize their own interests (e.g., price negotiations, counter-strategies) enforcing corporate transparency …-of-the-art of the scholarly debate on the impact of corporate transparency on corporate performance. Furthermore, we discuss whether …
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Prediction markets - markets used to forecast future events - have been used to accurately forecast the outcome of political contests, sporting events, and, occasionally, economic outcomes. This chapter summarizes the latest research on prediction markets in order to further their utilization by...
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In this paper, we review the most common specifications of discrete-time stochastic volatility (SV) models and illustrate the major principles of corresponding Markov Chain Monte Carlo (MCMC) based statistical inference. We provide a hands-on ap proach which is easily implemented in empirical...
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