On September 17, 2008, the Securities and Exchange Commission (SEC) issued an emergency order banning the shorting of 797 financial stocks. This paper studies the impact of the short selling ban on the credit derivatives market by investigating credit default swap (CDS) prices during the period...

On September 17, 2008, the Securities and Exchange Commission (SEC) issued an emergency order banning the shorting of 797 financial stocks. This paper studies the impact of the short selling ban on the credit derivatives market by investigating credit default swap (CDS) prices during the period...

Securities Transaction Taxes have received much attention over the last few years with countries and global organizations trying to control the level of speculations, especially since the Global Financial Crisis. This study examines the impact of an increase in the level of securities...

We study the impact of the suspension of opening and closing call auctions by the National Stock Exchange of India in 1999. We compare volatility, efficiency and liquidity (VEL) of securities before and after suspension, and estimate the value of the auctions using an event study. Following...

Objective: Previous literature on optimal savings relies on specific utility and production technology functional forms which might not be able to produce robust results as different utility/production functions may lead to dramatically different or opposing results. This paper derives an...

This study explored the sustainability of the stock market against the COVID-19 pandemic. The impacts of confirmed COVID-19 cases, COVID-19 deaths, and Movement Control Order (MCO) length on the stock market were examined. The Generalized Method of Moments (GMM) estimator was employed to analyze...

In less than fifteen years, the world has experienced the worst financial crisis since the 1930’s, the worst global pandemic since the flu in 1918, and the largest war fought since the Second World War. This manuscript argues that these crises are not isolated events. The main thesis is that...

Insurance Industry is going through a very important stage of its transformation - the transition from the classical system of management into a risk-based management. These changes were launched in Europe by international organizations which deal with the development of the necessary...

This is paper is a natural extension of Yang (2011) where-in democracy is not positively related to stock market development. We postulate that when moment conditions of stock market performance are accounted for, democracy improves financial markets in developing countries. Channels of...