This study is a theoretical overview on the origin and formation mechanisms of the financial crisis. We first presented a typology of these crises on the basis of specific symptoms and we proposed statistical indicators of instabilities correspondent to each type of crisis. We also evaluated the...

Acest studiu investigheaza rolul capitalului strain, al creditarii bancare si al îndatorarii sectorului privat în formarea dezechilibrelor premergatoare crizei financiare din tarile europene. Mai întâi, am aratat ca atât stocul de credit total, cât si cel privat sunt puternic corelate cu...

Prezentul studiu reprezinta o sinteza teoretica privind originea si mecanismele de formare a crizelor financiare. Am realizat mai întâi o tipologie a acestor crize în functie de simptomele specifice si am propus indicatori statistici ai vulnerabilitatilor reprezentative pentru fiecare tip de...

The research paper studied the evolution of shares market price during the company’s financial result announcement. The research is based on event study methodology. The author paid careful attention to data selection, correct methodology approach and results’ interpretation. 18 listed...

Purpose–The purpose of this study is to discover and model the asymmetry in the price volatility of financial markets, in particular the foreign exchange markets as the first underlying applications. Design/methodology/approach–The volatility of the financial market price is usually defined...

This paper evaluates the time-varying degrees of weak-form efficiency of the crude oil markets using the Modified Shannon Entropy (MSE) and the Symbolic Time Series Analysis (STSA) approach. Using daily data from May 20, 1987 to March 6, 2012 for two worldwide crude oil benchmarks (West Texas...

Financial basics and intuition stresses the importance of investment horizon for risk management and asset allocation. However, the beta parameter of the Capital Asset Pricing Model (CAPM) is invariant to the holding period. Such contradiction is due to the assumption of long-term independence...

Decline in confidence in free market mechanisms in the past decade has provoked an increase in interest in regulatory issues. This paper seeks to answer one question: Are exchange listing rules an effective screening mechanism? Using a sample of IPO firms listing on major U.S. exchanges in...

This paper investigates the market efficiency of the Malaysian crude palm oil prices using data for the sample period spanning from 1998:01 – 2010:12. The univariate unit root test confirms that all series are non-stationary in their levels. The Johansen multivariate test provides empirical...

This paper analyzes the equity-portfolio recommendations made by investment newsletters. The dataset spans 17 years, is free of survivor and back-fill biases, and includes the complete recommendations for 153 different newsletters. Overall, there is no significant evidence of superior...