Performance of the human play a vital role in every field of life, whether that is politics, wars, films, or sports etc. The purpose of this research paper is to test the hypothesis, whether the performance of some elite/professional individual can be treated as real option. In this paper we...

This paper investigate the time series properties and predictability of daily percentage changes in the Pakistani rupee exchange rate with respect to the currencies of major trading partner country USA. The daily data is used for the time period of October 1988 to April 2012. In this study, we...

The purpose of this research paper is to find how much risk is involved in investing emerging market debt. Emerging markets are becoming a hub for foreign investors either that is an equity or debt investment. The risk is the important element for investors. As for emerging markets the most...

In this paper we propose a framework for predicting market returns and volatility using changes in the country's political risk. We identify the appropriate lag to calculate changes over, and show how the changes should be included in mean and volatility equations. The appropriate level of...

Recent studies have shown that the Sharpe ratio and alpha for the momentum strategy can be increased, by scaling the momentum strategy, by the inverse of its historical volatility. However, we find that the higher Sharpe ratio and the alphas of the volatility scaled momentum strategy, in...

Positive illiquidity premium is documented to be linked with level and risk of illiquidity effect across global markets. Our study shows that this evidence is subject to variation from one measure of illiquidity to another with one potential implication. That the magnitude of illiquidity premium...

This article empirically examines the consequences of political uncertainty on the nominal exchange rate returns and the volatility for over hundred countries around the world. We used the monthly political risk data from the International Country Risk Guide and formed three measures of...

Considering the market imperfection theory, this study analyses the performance of Pakistani business groups using a data set of 253 firms from 2003-2012. We find that group affiliation plays a significant role in firm performance due to the group's ability to better cope with inefficiencies and...

The existing literature on developed and advanced emerging markets documents that the expected stock returns exhibit a positive-, negative-, and no-relationship with both idiosyncratic volatility (IVOL) and extreme daily returns (MAX or MIN). Different from developed and advanced emerging...