The popularity of sustainable investments is unbroken and attracts investors and researchers alike. Modelling the properties of such 'green' firms, Pástor, Stambaugh, and Taylor 2021 consider a hedge against climate risks in their theoretical model. Likewise, it could be assumed that companies...

Most emerging financial markets have a liquidity problem. Brown and Warner (1985) showed that the problem causes bias in measuring abnormal returns by means of a traditional event study. A number of studies detect abnormal returns of thinly traded stocks by using either different models to...

The slain SARS-CoV-2 (severe acute respiratory syndrome coronavirus) negatively impacted business, industries, jobs, the economy, the stock market around the globe. The worst-hit were the travel & tourism and hospitality industries. This study examines the influence of travel ban and other...