This study analyses the stringency of EU environmental regulations. Contrary to the proposition of an economic -trading up- of standards, the positive theory of environmental federalism which is developed allows for an examination of political mechanisms and the effects of regulation. Empirical...

This paper tests whether value-at-risk has a negative relationship with expected equity returns in China; specifically, we investigate left-tail return momentum. The findings reveal that left-tail momentum is significant during high economic policy uncertainty (EPU) periods. Moreover, when the...