This paper investigates how global market sentiment propagates among the markets and how the interdependency through the propagation changes during the course of the US subprime crisis. We adopt a bivariate generalized autoregressive conditional heteroskedasticity (GARCH) model, and use a sample...

BRICS nations have recently witnessed substantial increases in core import commodity prices that portend the possibility of significant, non-transitory inflation and all that would occasion. This paper suggests a lower-cost alternative for hedging import commodity prices. The hedging instrument...

Modigliani and Miller present an equity-quantity shifting equilibrating process to achieve an optimal firm value in the presence of corporate taxes. However, in the era in which they derived their various propositions regarding the relation between a firm's value and its capital structure,...