We show that High Frequency Traders (HFTs) are not beneficial to the stock market during flash crashes. They actually … greater liquidity and efficiency provided by HFTs in normal times, and the disruptive consequences of their trading activity …

misestimation and misplacement, two types of overconfidence. The inverse differential information theory contrasts with the existing … abilities or performance compared to others'. The inverse differential information theory posits that people tend to evaluate … others more objectively than they do themselves. A positive relationship between misestimation and misplacement predicts that …

United States (US) and Asian-Pacific financial markets has become more critical. If Asian stock markets have low or negative … correlations with each other and/or the US market, global investors may benefit from diversification. This study examines the … return and volatility spillover between the S&P 500 and 12 Asian stock markets using weekly data from January 2000 to …

This study addresses whether gold exhibits the function of a hedge or safe haven as often referred to in academia. It … contributes to the existing literature by (i) revisiting this question for the principal stock markets in the Middle East and … North Africa (MENA) region and (ii) using the copula-quantile-on-quantile and conditional value at risk methods to detail …

and low frequency layer, and (3) at an institution level, financial institutions play various roles in receiving or … at various time-frequency horizons. We propose multiscale risk spillover networks by combining MEMD and generalized … construct multilayer risk spillover networks at short-, medium-, and long-term scale. Moreover, we analyze the topological …

well as -- if not better than -- their stock counterparts in the past half century while exhibiting similar (or even higher …) levels of volatility. These results provide a novel perspective on both the equity risk premium and excess volatility puzzles … (bubbles). I present several potential explanations, and discuss further the implications for macroeconomics, monetary …

skewness and kurtosis by about 18%, 74% and 69% on average, respectively. We do not find consistent evidence that advanced and … well-developed stock markets have less frequent and/or sever outliers. Overall, the results and analysis of the paper …We employ a Boxplot method for detecting and analyzing outlying daily returns of 14 international stock market indices …

that investors would not get any substantial benefits of diversification by investing only in the ‘Russia and China’ or …The present study analyses BRICS (Brazil, Russia, India, China, South Africa) capital markets in both time and … markets. Wavelet coherence and clustering estimates uncover the interesting dynamics among the BRICS capital markets co …

Countries are drastically impacted by financial and fiscal crises. Financial crises have the worst impact on not only … society, but also the economy. The Canadian economy underwent financial crises and recessions several times during the last … periods. It is aimed to determine the most effective or dominant index prices on the daily closing stock price of the banks …

Study data also show that those approaching retirement are not likely to be greatly or immediately affected by the decline … and Retirement Study suggest that those approaching retirement age (early boomers ages 53 to 58 in 2006) have only 15 ….2 percent of their wealth in stocks, held directly or in defined contribution plans or IRAs. Their vulnerability to a stock …