In this paper, we study the methods of combining different volatility forecasts using various GARCH models. Given that the major risk exposure for many investors in energy is the volatility of the electricity price, our motivation stems from the fact that there is no single best model for...

We examine if the sequence of stock market liberalization events matters for corporate financing choices. We contrast firms who attain ‘investable' status through domestic reforms with those who do so by issuing American Depository Receipt programs. We find that the first liberalization event...

We analyse the relationship between corporate dividend policy and firm lifecycle in a low-disclosure regime, where domestic firms have an incentive to use dividends to build capital market reputation among external investors. We use a range of lifecycle indicators from the extant literature and...