This paper examines trends in idiosyncratic risk in different ‘new economy’ and ‘old economy’ industries, and explores whether these developments can be attributed to the use of IT. A CAPM-based decomposition of equity returns is employed to estimate idiosyncratic risk. The results...

In mid-September 2008, following the bankruptcy of Lehman Brothers, international interbank markets froze and interbank lending beyond very short maturities virtually evaporated. Despite massive central bank support operations and purchases of key assets, many financial markets remained impaired...

This article examines developments in the syndicated loan markets during the financial crisis. The investigation of deal structures and purposes suggests that supply constraints aggravated the sharp decline of syndicated lending. An econometric analysis confirms that balance sheet constraints of...

Commodities have attracted considerable interest as a financial investment in recent years. This article discusses the factors behind their growing appeal and assesses the extent to which market characteristics, such as price volatility, have changed as a result. The feature concludes that...

Financial sector foreign direct investment in emerging market economies has surged over the past decade. While the benefits of heightened financial sector efficiency and better risk management are widely acknowledged, foreign ownership poses challenges for host countries due to the migration of...

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