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Trade secret laws and initial public offering underpricing
This paper examines the impact of trade secret laws on the underpricing of initial public offerings (IPOs) in the United States, where we focus on...
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Trade-time clustering
We introduce an intraday measure of trade-time clustering which estimates periodic grou** of trades, integrating volume and trade duration. This...
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Internal control effectiveness and trade credit
In this study, we investigate whether trade credit is associated with internal control effectiveness. Using a sample of U.S. publicly listed firms...
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Can trade credit rejuvenate Islamic banking?
This study proposes a renewal of the contemporary Islamic banking Murabaha financing model as it aggravates financial fragility with waning economic...
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Central Bank Digital Currencies and financial integrity: finding a new trade-off between privacy and traceability within a changing financial architecture
In an increasingly digitised world, and within the new reality of digital finance, a fully digitised public currency seems to be a natural step. To...
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Common risk factors and risk–return trade-off for REITs and treasuries
We provide strong evidence of flight-to-safety phenomenon from real estate market, with REITs as the proxy, to bond market during elevated real...
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Banks stock market reaction to the Italian and Spanish windfall tax announcement: an event study
This paper analyses the Eurozone banks’ short-term market reaction to the introduction of windfall tax in Spain and Italy. Using an event study, I...
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Reaction and Efficiency of the Cryptocurrency Market During the COVID-19 Pandemic: The Effect of Size and Supply
The COVID-19 pandemic might be bad news for all economic units, but it has become an unprecedented push factor for cryptocurrencies. These digital...
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Consumer, bank, and stock market reaction to CFPB’s complaint data disclosure
With the signing of the Dodd-Frank Wall Street and Consumer Protection Act in 2011, and the accompanying Consumer Financial Protection Bureau, there...
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The Market Reaction to Climate Risk: Evidence from the European Banking Industry
The transition to low-fossil-fuel-economy shifts away those companies that are exposed to climate risks. By applying a panel data analysis over a...
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Volatility Contagion Between Crude Oil and G7 Stock Markets in the Light of Trade Wars and COVID-19: A TVP-VAR Extended Joint Connectedness Approach
We investigate volatility contagion across G7 stock markets and the market for crude oil for the period between 2007 and 2021. Following the work of...
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Corporate social responsibility and trade credit
Prior studies show that higher corporate social responsibility (CSR) performance lowers firms’ cost of debt and equity financing. Using a sample of...
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Inclusions and Exclusions of Stocks in Cross-Border Investments: The Case of Stock Connect
How does the market react when more or fewer investors are allowed to trade certain stocks? Stock Connect, a cross-border investment channel between...
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Dynamic interactions of actual stock returns with forecasted stock returns and investors’ risk aversion: empirical evidence interplaying the impact of Covid-19 pandemic
In this paper, we examine the dynamic relationship between actual stock returns, forecasted returns and investor risk aversion, where variables are...
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Open-market stock repurchases, insider trading, and price informativeness
This study examines insider buying before stock repurchase announcements as an undervaluation signal. We find that firms are more likely to announce...
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The impact of the Russia–Ukraine war on the world’s largest listed insurance firms
We examine the short-term market impact of the beginning of the military conflict between Russia and Ukraine (24 February 2022) on the world’s...
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PIPEs, firm investment, and viability
Using 2342 PIPEs, we investigate the intended use of funds and its relation to firm characteristics and issue outcomes. We find that a slight...
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The Age of Oil Benchmarks
The natural state of the oil market is competition, and oligopolistic structures that have dominated it for many decades are the result of either...
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Intermediaries’ Model in Banking and Finance and the Treatment of Fintech in the European Union: A Critical Approach
Intermediation has become a major phenomenon. Major companies are acting as intermediaries between businesses and clients. European financial and...
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The bail-in credibility: barking dogs seldom bite
This paper studies the senior unsecured bondholders’ bail-in expectations and market monitoring following bail-in legislative events aimed at...
