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Asset Bubbles : Re-Thinking Policy for the Age of Asset Management

Jones, Bradley - 2015

In distilling a vast literature spanning the rational — irrational divide, this paper offers reflections on why asset bubbles continue to threaten economic stability despite financial markets becoming more informationally-efficient, more complete, and more heavily influenced by sophisticated...

Persistent link: https://www.econbiz.de/10013026923

Formal Financial System and Accessibility By MSMEs : A Survey

Panchal, Nilam - 2016

Persistent link: https://www.econbiz.de/10012989764

The Impact of Terrorism on Financial Markets : An Empirical Study

Chesney, Marc - 2010

The main focus of this paper is to study empirically the impact of terrorism on the behavior of stock, bond and commodity markets. We consider terrorist events that took place in 25 countries over an 11 year time period and implement our analysis using different methods: an event-study approach,...

Persistent link: https://www.econbiz.de/10013146160

Market Microstructure and the Risks of High-Frequency Trading

Aldridge, Irene - 2013

market manipulation, the highest volatility and probability of market crashes, yet the highest liquidity. The so … detect spoofing market manipulation, lower volatility and probability of market crashes, but lower liquidity levels. Finally …

Persistent link: https://www.econbiz.de/10013079007

Volatility Control Mechanisms : The International Experience and the Evidence from Hong Kong

Chan, Kalok; Lam, F. Y. Eric; Valente, Giorgio; Wu, Siyuan - 2022

discontinuity design (RDD) analysis show that the improvement in liquidity is statistically significant, especially in terms of the …

Persistent link: https://www.econbiz.de/10013492074

Legal Institutions and Fragile Financial Markets

Chiu, Junmao; Chung, Huimin - 2023

This study investigates equity liquidity variation with a funding constraint across 38 countries and examines whether … equity liquidity. Our results show that firms from countries with more extensive disclosure requirements tend to have lower … liquidity shocks due to funding constraints, leading to higher firm value. This effect is stronger for ex-ante disclosures …

Persistent link: https://www.econbiz.de/10014348650

Economics Makes Strange Bedfellows : Pensions, Trusts, and Hedge Funds in an Era of Financial Re-Intermediation

Verret, J. W. - 2009

In Strong Managers, Weak Owners, Professor Mark J. Roe articulates an expansive theory to explain the evolution of the fragmented market structure in the United States. He posits that political choices led to fragmentation in the American financial markets, thus guiding the evolution of the...

Persistent link: https://www.econbiz.de/10014210457

Dollar Shortage, Central Bank Actions, and the Cross Currency Basis

Bottazzi, Jean-Marc - 2012

In our model, cross-currency basis, which captures the deviations from covered interest rate parity (CIP), reflects the relative value of the scarcer currency (US dollar) as collateral in funding constraints. Our empirical evidence shows that measures of dollar shortage derived from ECB tenders,...

Persistent link: https://www.econbiz.de/10013098803

High-frequency Trading around Reserve Bank of Australia (RBA) Announcements

Hua, Vinh Duc Anh - 2019

We study high-frequency trading (HFT) activities and their consequent price impacts on the ASX around RBA announcement. RBA announcement provides an ideal setting for studying the speed advantage of high-frequency traders (HFTs), as the announcement has significant impact on stock prices and...

Persistent link: https://www.econbiz.de/10012894509

Market reaction to mandatory nonfinancial disclosure

Grewal, Jody; Riedl, Edward J.; Serafeim, George - 2016

We examine the equity market reaction to events associated with the passage of a directive in the European Union (EU) mandating increased nonfinancial disclosure. These disclosures relate to firms' environmental, social, and governance (ESG) performance, and would be applicable to firms listed...

Persistent link: https://www.econbiz.de/10011541016