This paper differentiates two types of margin requirement increase in Chinese futures market: regular margin increase and risk margin increase. We use SVAR model to study the relationship among open interests, price volatility and margin level of six kinds of futures traded on SHFE. The result...

We study the impact of political relations on media coverage. Using a sample of 3,290 American Depository Receipts (ADRs) from 45 countries, we find that poor political relations between the US and an ADR firm’s home country induce negative coverage by the US media of the ADR firm. To...

This paper empirically evaluates the current 120-minute settlement window for China Securities Index 300 (CSI 300) Stock Index Futures. We assume that an exchange chooses the optimal settlement window to maximize its profit by increasing its revenue from trading volume and by curtailing its...