The Portuguese stock market provides a natural experiment to analyze theories of optimal price per share. The particular characteristics of this market suggest that prices per share should be very low. Using a sample of 20 stocks from the main Portuguese Stock Index (PSI20) in Jan/1999-Jun/2010,...

There is an ongoing trend of deregulation and integration of electricity markets in Europe and North America. This change in market structure has naturally affected the interaction between agents and has contributed to an increasing commoditization of electric power. This paper focuses on one...

We study the determinants of Credit Default Swap (CDS) spreads through quantile regressions. The results indicate that CDS spreads are strongly determined not only by traditional theoretical variables, such as the implied volatility and put skew, but also by illiquidity costs. However, contrary...