We assess empirically the role of the World Bank’s Country Policy so-called fiscal policy rating variables (fiscal rating, debt rating and revenue rating) on economic growth in the 46 Least Developed Countries (LDCs) in the world, during the period 1990-2022. We also investigate the role of...

We investigate financial experts’ beliefs about climate risk pricing and analyze how those beliefs influence stock return expectations. In a comprehensive survey, we elicit experts’ beliefs using both structured and open-ended questions. We establish that most experts share the view that...

This paper uses regulatory data to assess the value of retail order flow in the German equity market. To this end, we examine the performance of specialized retail market makers (RMMs) that internalize a large share of retail activity via affiliated trading venues. We show that retail market...