Purpose – The purpose of this is paper is to pay a closer look at the 2008-2009 financial crisis (and its aftermath) and analyzes stock returns of nine major US oil companies as well as the oil and gas sector under daily data from January 1992 to April 2012. Design/methodology/approach – The...

Purpose – The purpose of this paper is to examine what happens to the variance of individual stocks forming the Dow Jones Industrial Average (DJIA) allowing for aggregate uncertainty measured by VIX, the “fear gauge index” of US options contracts. In examining each individual stock...