This paper examines the behavior of seasonal anomalies in Dhaka Stock Exchange (DSE) of Bangladesh and whether the time varying nature of the anomalies is in line with Adaptive Market Hypothesis (AMH). With this aim the research investigated whether the changes in market conditions, for example:...

The study is carried out with the objective of testing the efficient market hypothesis (EMH) at the semistrong form level. As such, the study employs two publicly available data variables – the exchange rate (RM/USD) and short-term interest rate as proxied by the overnight policy rate (OPR)....

The Belgian financial landscape has been transformed over the past two decades and now consists of a relatively large, well-functioning and internationally integrated financial sector contributing directly and indirectly, through its intermediary function, to long-term economic growth. One of...

In a new and changing environment for monetary policy, an interesting issue to examine is the use of financial market indicators by monetary policy authorities. With this in mind, the OECD canvassed a number of major central banks to get their views. This paper presents a synthesis of the...

The market timing is one of the active methods used by portfolio managers to do their investments more effective. It allows to separate management skills on a micro and macro scale. The market timing applies to the appropriate selection of assets for the portfolio and the right moment to change...

The COVID-19 outbreak dealt a severe blow to the global economy, especially to the airline industry, due to worldwide lockdown measures implemented by the authorities. This paper aims to investigate the impact of the COVID-19 pandemic on the airline stock performance of seven markets in Asia and...

Domestic outsourcing has grown substantially in developed countries over the past two decades. This paper addresses the question of the technological drivers of this phenomenon by studying the impact of the staggered diffusion of broadband internet in France during the 2000s. Our results confirm...

This paper investigates whether the reputation of the Nominated Advisor (Nomad) impacts accrual and real earnings management of Initial Public Offering (IPO) firms on the Alternative Investment Market (AIM) of the London Stock Exchange in the UK. While role of Nomads on AIM market is a...

We document the negative effect of stock liquidity on default risk for a sample of 46 countries. We further find that default risk declines following the introduction of the Directive on Markets in Financial Instruments (MiFID)—an exogenous shock that increases liquidity. The effect of...

Syndicated loans integrate bank monitoring with risk sharing similar to corporate bonds. Consistent with this argument, we find that firms use more loans and fewer bonds, and increase capital expenditures, after initial access to the syndicated loan market. The growth of collateralized loan...