The Russian economy has encountered substantial exchange rate volatility due to many endogenous and exogenous shocks, including the adoption of different exchange rate systems, the global financial crisis, sanctions, and the COVID pandemic. The economy has long experience with a managed floating...

Given the importance of stock market synchronization for international portfolio diversification, we estimate the degrees of co-movements among US, Chinese and Russian markets. By applying the TVP-VAR approach, we measure total and bivariate synchronization indices utilizing daily data from 1998...

We find that firms with a top management counsel (TMC) have lower stock price crash risk than other firms. We further show that firms with a TMC issue more negative relative to positive earnings guidance and use more negative relative to positive words in their annual report filings, compared to...

We find that powerful chief executive officers (CEOs) are associated with higher crash risk. The positive association between CEO power and crash risk holds when controlling for earnings management, tax avoidance, chief executive officer's option incentives, and CEO overconfidence. Firms with...

This study explores the economic and financial effects of uncertainty on the commodity market integration. This issue is important from the perspective of financialization versus hedging strategy, as the commodity market plays an important role in this context. We consider the eight major...

The present paper explores the impact of several measures of policy uncertainty on commodity and equity markets during 2009-2022 using cointegration and Granger causality at the quantile level. We consider the three policy uncertainty indices widely, including global economic policy uncertainty...