Based on the APARCH model and two outlier detection methods, we computereliable time series of volatility asymmetry for 49 countries with relatively few ob-servations. Results show a steady increase in the asymmetry over the years for mostcountries. We nd that economic development and market...

We analyze how intellectual abilities and education affect investors’ risk-adjusted returns in the stock market. To investigate such effects, we use educational performance measured by standardized exams and the type and specialty of a university degree obtained.  The data used covers one...

Combining two exhaustive datasets from NASDAQ OMX Tallinn and Estonian national educational registry we dig deeper into the behaviour of the individual investor and paint a picture about how mental abilities in very different areas influence stock market participation. We use different tools of...

This paper provides a more thorough empirical examination of the development and determinants of the liquidity position in the financial sector during the last financial crisis in the Baltic-Nordic region, which takes into consideration the whole economic cycle. The current study serves as an...

Based on the APARCH model and two outlier detection methods, we compute reliable time series of volatility asymmetry for 49 countries with relatively few observations. Results show a steady increase in the asymmetry over the years for most countries. We find that economic development and market...

This paper empirically examines the development and determinants of the liquidity position in the financial sector during the recent financial crisis in the Baltic-Scandinavian region. We look at fiscal and monetary policy implications of liquidity problems arising in the crisis. The results are...