This study investigates the cycles that IPO issuance produce in Pakistan and the US. We did not find evidence of a lead-lag relationship between IPO volume and initial returns in Pakistan; however, this evidence holds for the US IPOs. Another important finding is that Pakistani and US IPOs are...

This study empirically examines the spillover effect from US monetary policy to nineteen European economies using Markov-switching models. The results of the univariate Markov-switching models validate the presence of two distinct regimes for both US monetary policy and the stock markets. We...

This study empirically examines the spillover effect from US monetary policy to nineteen European economies using Markov-switching models. The results of the univariate Markov-switching models validate the presence of two distinct regimes for both US monetary policy and the stock markets. We...