disadvantageous, generating lower profits for first stage winners as compared to losers. We also consider asymmetry between groups … arising from a biased contest success function in the second stage. We show that although the asymmetry occurs in the second … stage, the effect of the asymmetry plays out in the first stage, with the intra-group contest being more intense within the …

This study examines the asymmetry between capital flows and economic growth in 42 countries for the period 1990 …-2017. It further argues that uncertainty is an important channel through which asymmetry operates. As such, the three measures … strategy. The existence of an asymmetry is confirmed by the findings as capital flows are more reactive to economic drag when …

by McAleer and Hafner (2014) to obtain EGARCH. These models can be used to capture asymmetry, which denotes the different …) showed that asymmetry was possible for GJR, but not leverage. McAleer and Hafner showed that leverage was not possible for … EGARCH. Surprisingly, the conditions for asymmetry in EGARCH seem to have been ignored in the literature, or have …