Purpose: The purpose of this paper is to study the effect of different parts (predictable and impact) of different types of speculative behavior (intraday speculation, medium-term speculation and long-term speculation) on future fluctuations in the underlying index. Design/methodology/approach:...

Purpose: The purpose of this paper is to deeply study and compare the dual and single hedging strategy, from the direct and cross hedging perspective. Design/methodology/approach: The authors not only first consider the dual hedge of integrated risks in this oil prices and foreign exchange...

Volatilities implied in options significantly stray upward from realized volatilities. Trading prices in markets are higher than theoretical prices calculated by the BS model. This paper aims to explain the implied volatility premium from the perspective of investors' loss-aversion. In practice...

The paper examines the role of M&A advisors in propagating takeover activity following economic shocks. We posit that M&A advisors play a significant role in promoting aggregate merger activity in the wake of an industry shock. The empirical results support this proposition by demonstrating a...

Results derived from evaluations using different measures for China's economic growth are divergent, especially when the RMB exchange rate has experienced large depreciation. Focusing on the changes in the RMB exchange rate matching the demands of economic development, we offer some plausible...