This paper examines the impact of five distinct Basel 3 announcements had on systematic risk levels of 122 internationally active banks in 37 countries over the sample period 2007-2013 using an extension of the Wagster (1996) market model. We extend the prior literature with methodology that...

This paper examines the impact of the Basel agreements (Basel I introduced in 1988, Basel I with market risk in 1998 and Basel II in 2008), on the level of systematic risk of the Australian big four banks. An augmented market model with three dummy variables is employed to capture any changes in...

The relation between market risk and asset returns can be modeled with the Security Market Line (SML), a positive linear relation between expected excess asset returns and the asset's beta. Pettengill et al (1995) make the case that tests of beta must be conditioned upon excess market returns to...

On any given night in Victoria, around 4,000 children and young people live under the care and protection of the State. For many young people, this care extends over a long period of time, sometimes until their 18th birthday. It is well documented that young people leaving State care often lack...

This paper looks at the connection between internal migration and unemployment in South Africa. We examine whether rural-urban migrants are more likely to be unemployed, in informal sector employment or underemployed than non-migrants. We build on standard economic theory to predict that rates...

To explain the value added along the coffee commodity chain we propose and estimate a theoretical model of the coffee commodity chain. The theoretical model consists of four markets and five agents in the coffee commodity chain and predicts that prices in the coffee commodity chain move together...

In this paper we examine the demand for education among rural Black households in South Africa using nationally representative data from the 1990s. In particular our study focuses on factors affecting schooling decisions at the household level. Our estimation results reveal strong evidence of a...