We investigate whether international fund flows are pro-or counter-cyclical by employing a concordance index. International fund flows are investments in bond and equity markets by institutional investors, such as mutual funds, exchange traded funds, closed-end funds and hedge funds. We find...

We investigate the drivers of excess interbank liquidity in Pakistan, using the Autoregressive Distributed Lag approach on weekly data for December 2005 to July 2011. We find that the financing of the government budget deficit by the central bank and non-banks leads to persistence in excess...

This paper tests Uncovered Interest Rate Parity (UIP) using LIBOR rates for the major international currencies for the period January 2001 to December 2008. We find that UIP generally holds over a short-term horizon for individual and groups of currencies. Our results suggest that it is...

We investigate the transmission mechanism of policy-induced changes in the discount rate and required reserves in Pakistan. Our results suggest that the pass through to the lending rate is complete for the discount rate but incomplete for required reserves. However, only shocks to required...

ABSTRACT We investigate the corporate social responsibility (CSR) policies of commercial banks in developing countries. Our analysis is based on a sample of 402 banks from 44 countries. We also analyze how bank and country characteristics connect with banks' CSR policies. We find that there is a...

We investigate the relationship between corporate and country sustainability on the cost of bank loans. We look into 470 loan agreements signed between 2005 and 2012 with borrowers based on 28 different countries across the world and operating in all major industries. Our principal findings...

We investigate the relationship between corporate and country sustainability on the cost of bank loans. We look into 470 loan agreements signed between 2005 and 2012 with borrowers based on 28 different countries across the world and operating in all major industries. Our principal findings...

The transition towards renewable and sustainable energy is being accompanied by a transformation of communities and neighbourhoods. This transition may have huge ramifications throughout society. Many cities, towns and villages are putting together ambitious visions about how to achieve 100%...

Electricity markets may become more sensitive to weather conditions because of a higher penetration of renewable energy sources and climatic changes. We investigate whether weather conditions had a growing influence on the average daily day-ahead price in the Dutch electricity market in the...

We investigate how financial market participants value energy accidents. We employ an event study to look into the response of stock markets to 209 accidents. These accidents were derived from Sovacool’s (2008) database on major energy accidents from 1907 to 2007. It appears that the stock...