We hypothesize two channels in which market volatility affects initial public offering (IPO) activity. First, CEOs time the market for IPOs and volatility makes this decision process harder. Second, risk-averse IPO investors become more reluctant towards IPOs during periods of higher volatility...

The aim of this study is to determine whether the DOW effect still exists, and to evaluate empirically the explanations of the DOW effect for international equity markets. Evaluating 51 markets in 33 countries for the period between January, 2000 and December, 2007, reveals that the DOW effect...

The 2008 financial crisis refocused investors' attention to several safe-haven assets, most notably gold and US Treasuries. We compare the role of these two assets as potential hedge instruments for thirteen major indexes' returns and their volatilities. Our study extends the literature by using...