Even though volatility spillover effects in global equity markets have been documented extensively, the transmission of illiquidity across national borders has not. In this paper, we propose a multiplicative error model (MEM) for the dynamics of illiquidity. We empirically study the illiquidity...

When President Roosevelt took the oath of office in 1933, he was facing a devastated nation. Four years into the Great Depression, 13 million American workers were jobless. What people wanted were jobs, not handouts, and in 1935, after a variety of temporary relief measures, a permanent...

We investigate whether US bank holding company fundamental characteristics are related to bank risk over a period that covers the recent 2007–09 financial crisis. We extend prior studies to consider bank equity risk exposure to market-wide default risk, the structured finance market, and the...

Focusing on the mobile phones sector, this study explores how the social networking site ‘Facebook' is used by consumers in their purchasing. Although there is extensive work on the influences on the buying decision process relevant to mobile phone purchasing, it is mainly set outside of a...