This paper estimates the influence of terrorist attacks on European tourism through the short-term post-hoc response of the airline industry and passengers. We use a seasonally-adjusted ARMA-GARCH methodology on unique datasets that examine changes in tourism as measured by ASKs, seats filled...

The full-text version of this paper can be found at: "https://ssrn.com/abstract=3102438" https://ssrn.com/abstract=3102438. This online appendix provides supplemental discussion and analysis for our manuscript The Determinants of IPO Withdrawal - Evidence from Europe. The supplemental...

Herding relates to behaviour by investors that involves mimicking the public actions and decisions of others rather than following privately held views and information. Herding is widely believed to be an important behavioural feature of financial markets, particularly in times of crisis, but...

This study examines the decision by firm owners to apply, or not, for intermediated debt. Based on a sample of SMEs in 9 European countries over the period 2009-2012, drawing on the ECB SAFE database, we examine firm characteristics, institutional and cultural factors. We focus our analyses on...

We examine the nature, extent and possible causes of bank contagion in a high frequency setting. Looking at six major European banks in the summer and autumn of 2008, we model the lower coexceedances of these banks returns. We find that market microstructure, volatility (measured by range based...