Using institutional trades across 36 countries for the period 2003-2008, this paper investigates the determinants of short-term institutional trading and how they differ across tranquil and crisis times at a weekly frequency. Before the financial crisis of 2007-2008, we find strong evidence of...

The capital asset pricing model has failed to explain the effect of systematic risk (referred to as beta) on actual stock market returns. Accordingly, this study analyzes daily returns by splitting it into overnight and daytime returns. The study analysis empirically confirms a positive...

Housing markets are at the centre of the recent global financial turmoil. In this well-researched study, a multidisciplinary group of leading analysts explores the impact of the crisis within, and between, countries.