This paper studies the impact of the April allowance submissions mandate under the European Union emission trading scheme (EU ETS) in carbon emission markets. Using intraday order flow data, we test for the cross-market efficiency of spot-futures dynamics and find that the equilibrium level,...

We conduct a decomposition for the stock market return by incorporating the information from 124 macro variables. Using factor analysis, we estimate six common factors and run a VAR containing these factors and financial variables such as the market dividend yield and the T-bill rate. Including...

Unawareness of the existence of financial products is a significant reason for non-participation in financial products and services in emerging economies. We propose a theoretical framework where households can acquire awareness, thereby enabling them to make an informed choice of whether to own...

This article examines for the first time the property tax compliance behavior of shared occupancy arrangements, where homeowners rent out part of their own home to tenants. This is a popular occupancy arrangement in emerging economies, arising due to financial constraints of homeowners. Using...

This paper is the first to determine the effect that media sentiment has on stock returns for UK companies and tests whether there is any return predictability contained in the UK media sentiment data. We show that measures of positive and negative media sentiment have significant relationships...