Volatility Spillover Effect from Foreign Stock Exchanges to National Stock Exchanges

Stock Exchanges and Issuers: A Changing Relationship

“Price-Quakes” Shaking the World's Stock Exchanges

BACKGROUND Systemic risk has received much more awareness after the excessive risk taking by major financial instituations pushed the world's financial system into what many considered a state of near systemic failure in 2008. The IMF for example in its yearly 2009 Global Financial Stability Report acknowledged the lack of proper tools and research on the topic. Understanding how disruptions ca...

legal nature of shares in stock exchanges

this article contains an analysis of the iranian, german and austrian law of shares as securities. stocks are issued to the capital market with a view for them to circulate among market participants. iranian legal scholarship has seen a debate on the nature of shares. some classify them as property while other classifies them as obligations. the distinction is of interest because certain rules ...

What Makes Stock Exchanges Succeed? Evidence from Cross-Listing Decisions

Despite the increasing integration of capital markets, geography has not yet become irrelevant to finance. Between 1986 and 1997, European public companies have increasingly listed abroad, especially in the U.S. We relate the cross-listing decisions to the characteristics of the destination exchanges (and countries) relative to those of the home exchange (and country). European companies appear...

Stock (Mis) Pricing and Diversification in Africa: Evidence from Selected African Exchanges

T his paper ascertains the extent of mispricing in equity portfolios, mispricing-divestment relation, and the role of African equities as risk diversification strategies during commodity market turbulence. Following Baur and Lucey (2010), one identifies an arbitrary commodity market crisis to be 1%, 5%, and 10% declining moments in returns. However, their approach is extended by usin...