Prior studies have shown that the COVID-19 pandemic has led to negative returns and increased volatilities in various financial markets. Not many however have sought to investigate why. With anecdotal evidence pointing to investors earning abnormal returns despite the pandemic, this paper sought...

This paper reports results that link money supply to banking liquidity to share price formation. We apply a more current generalized method of moments procedure to run a three-equations structural model to study the money-to-liquidity-to-share-price effect in three major markets using data over...

Many developments on index for market sentiment from single to composite proxies and they are used as a moderating variable in the study of firm’s return or investors’ behaviour. The choice of sentiment proxy is generally made by experience and no formal statistical examination on variables...

The money supply impacts on interest rate and liquidity were first proposed in 1961 by Friedman, the late Nobel laureate. The liquidity effect has yet received unanimous empirical support. Also, research interest on liquidity subsided in the 2000s. Using quarterly data over 1960-2011 and...