Ladekarl and Zervos look at the investment allocation process employed by portfolio investors in emerging markets. In particular, they examine the first of a two-stage decision process: First, investors create a subset of investable countries to be analyzed later in further detail; second, they...

The main rationale of trading halts is to allow investors enough time to digest pertinent information dispersed by publicly listed corporations. If the suspensions are properly executed, they should reduce information asymmetry, and thus should also trim down stock return volatility. The primary...

What determines a country's financial immunity to a global pandemic? To answer this question, we investigate the behavior of 67 equity markets around the world during the COVID-19 outbreak in 2020. We consider a multidimensional data set that includes factors from finance, economic,...

The COVID-19 crisis has laid bare many preexisting conditions of modern society. Besides the obvious lack of pandemic preparedness, these include biodiversity loss, air pollution, supply chain vulnerabilities, and inequality, to name a few – all systemic risks that threaten the health and...

Certain unique characteristics of the Indian bookbuilding process allow us to study the timing and subscription pattern of different investor groups and to dissect the IPO returns into two distinct components: one relating to pre-listing underpricing set by the underwriter and the initial return...

Certain unique characteristics of the Indian bookbuilding process allow us to study the timing and subscription pattern of different investor groups and to dissect underpricing into two distinct components: one relating to pre-listing, set by the underwriter and the other from the post-listing...

A US dollar funding premium in the EUR/USD cross currency swap market has been in existence since 2008. Whilst there are many reasons behind this dislocation, since 2014 the divergence in monetary policy between the euro area and the United States has played a growing role. This paper aims at...

We examine underlying factors that explain an exceptionally low stock market participation rate among Lithuanian households by carrying out a comprehensive survey of mass affluent individuals. The probit regression analysis of the survey results indicates that lack of financial literacy, low...