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Discovering and disentangling effects of US macro-announcements in European stock markets

Rühl, Tobias R.; Stein, Michael - 2014

In this study, we analyze the effect of US macroeconomic announcements on European stock returns, return volatility and bid-ask spreads using intraday data. We find that certain announcements are generally more important to the European stock market than others, and that the direction of news is...

Persistent link: https://www.econbiz.de/10010399276

The Impact of Investor Sentiment on Catering Incentives around the World

Kim, Kihun; Byun, Jinho; Liao, Rose C.; Pan, Carrie H. - 2021

This study tests catering theory of dividend policies in twenty-one countries from 1991 to 2017. First, we show that there are important differences in corporate dividend policies across countries. Second, we find that the catering incentive is stronger when investor sentiment is low. Third,...

Persistent link: https://www.econbiz.de/10013234081

Testing capital structure theories using error correction models : evidence from China, India, and South Africa

Kannadhasan, M.; Thakur, Bhanu Pratap Singh; Gupta, … - In: Cogent economics & finance 6 (2018) 1, pp. 1-19

The objective of this study is to empirically examine the capital structure theories that can explain the capital structure choice made by the firms that are operating in China, India, and South Africa. The study tests the capital structure theories as a stand-alone basis as well as an...

Persistent link: https://www.econbiz.de/10011901881

Dancing on the Edge of Chaos : A Phase Transition in the 2022 Tech Bubble

Zautner, Daniel - 2022

As the economy enters a phase transition into an aperiodic state, the tech industry finds itself at the brink of chaos. Inflated evaluations in private markets before IPOs and increasing Shannon entropy of post-IPO share prices reveal a market teetering on the edge. But is it a phase transition,...

Persistent link: https://www.econbiz.de/10014258763

Does Lowering Dividend Tax Rates Increase Dividends Repatriated? Evidence of Intra-Firm Cross-Border Dividend Repatriation Policies by German Multinational Enterprises

Leibrecht, Markus - 2010

This paper explores the impact dividend taxes exert on the dividends repatriated from foreign affiliates to their … significant negative impact on the expected value of dividends repatriated: Evaluated at the overall mean dividend payment a one … percentage point increase in the dividend tax rate would decrease dividends repatriated by about 3.5 percent. Evaluated at the …

Persistent link: https://www.econbiz.de/10013138452

Does lowering dividend tax rates increase dividends repatriated? : evidence of intra-firm cross-border dividend repatriation policies by German Multinational Enterprises

Leibrecht, Markus; Bellak, Christian; Wild, Michael - 2009

Persistent link: https://www.econbiz.de/10003870801

Does Lowering Dividend Tax Rates Increase Dividends Repatriated? : Evidence of Intra-Firm Cross-Border Dividend Repatriation Policies by German Multinational Enterprises

Bellak, Christian - 2016

Persistent link: https://www.econbiz.de/10012991035

Measuring the bid-ask spreads : a note on the potential downward bias of the Thompson-Waller estimator

Otsubo, Yoichi - In: Applied economics letters 22 (2015) 10/12, pp. 808-814

Persistent link: https://www.econbiz.de/10011286079

A comprehensive study on bid-ask spread and its determinants in India

Pan, Aritra; Misra, Arun Kumar - In: Cogent economics & finance 9 (2021) 1, pp. 1-23

Determinants of bid-ask spread have been explored significantly for low-frequency datasets in many developed markets. Researchers have identified share price, traded volume, market-capitalization, return volatility, and number of trades as the prime spread drivers. However, the validity of these...

Persistent link: https://www.econbiz.de/10013183849

Liquidity in the German stock market

Johann, Thomas; Scharnowski, Stefan; Theissen, Erik; … - 2019

This paper presents the most extensive analysis of liquidity in the German equity market so far. We examine the evolution of liquidity over time, the determinants of liquidity, and commonality across liquidity measures and countries. We make use of a new publicly available dataset, the Market...

Persistent link: https://www.econbiz.de/10012020325