Research on relationship lending has focused attention on economic factors. No previous work, however, has examined the role of trust in lender-borrower relationships. Trust may be expected to reduce transaction costs and agency costs, and thereby influence the availability of credit (i.e....

Existing research approaches the return on investment expected by entrepreneurs from the perspective of the investor. This paper argues that this perspective is inadequate when applied to entrepreneurs of small and medium sized enterprises (SMEs). In fact, return on equity cannot be ascertained...

We use content analysis software to examine certain characteristics of communications arising from European Council meetings. These characteristics appear to explain a large proportion of variation in stock returns around the meeting dates. More specifically, stock market investors react...

This paper reassesses the role of financial intermediation in inducing the European financial crisis of 2008. Our empirical investigation sheds light on the causal effects of excessive household leverage on economic structural distortions, beyond the already established links between credit...

This research explores the effects of adding bitcoin to an optimal portfolio (naïve, long-only, semi-constrained with and without bitcoin shorting) by relying on the mean-CVaR approach. We explore bitcoin's role in portfolios of U.S., European and Chinese assets. We back-test to compare the...

This research paper explores the contributing factors behind the success of 146 ICOs from June 2017 to November 2017 by analysing the role of ICO characteristics, team quality and market sentiment behind each ICO on the short-term return on investment, first-day return and the total amount...