For gold, moving from clandestine to official trading does not significantly change informational efficiency. Both markets are inefficient suggesting that efficiency is linked more to the type of asset than to the legal status of the market.

The reasons why organizations sponsor artistic and cultural events have attracted much scholarly attention. However, the subject of why organizations create and develop their own collections has been under-investigated. This is especially striking in the financial sector, where several companies...

During World War II, the spread between the 3 percent rentes and the Vichy government bonds reflected French investors' perception of the shifting fortunes of war and the willingness of future post-war government to repay the debt issued by the collaborationist regime. Structural breaks in this...