Purpose - Political factors play a crucial role in China's initial public offering (IPO) market due to its distinctive institutional context (i.e. "economic decentralization" and "political centralization"). Given the significant level of IPO underpricing in China, we examine the impact of local...

This study assesses the impact of two revolutions—the Tulip Revolution in 2005 and the Melon Revolution in 2010—on household food demand in Kyrgyzstan. Different categories within food products witnessed distinct adjustments in consumer demand. Employing a complete demand system and...

This study aims to capture the co-movement between political risk and economic growth in Cyprus employing quarterly data over the time period between 1995Q1 and 2018Q4, adopting a wavelet coherence technique allowing to investigate both the short and long run causal link between economic growth...

State fragility, which describes how different components of a state do (or do not) function, is a central concept for understanding how development activities and policies in complex political, humanitarian and conflict-affected contexts will (or will not) work in practice. Using fragility as a...

Wissenschaftler untersuchen seit langem den Einfluss institutioneller Faktoren des Gastlandes auf Standortentscheidungen multinationaler Unternehmen für ausländische Direktinvestitionen (FDI). In dieser Studie wird die Beziehung zwischen zwei institutionellen Faktoren, Demokratie und...

Political risk, one of the most significant uncertainty shocks, affects firms' future attitudes toward risks and plays a crucial role in their decision making. A stock price crash risk is a classical topic in financial markets; therefore, this paper probes the relationship between firm-level...

This paper investigates the time-varying effects of partisan conflict (PC) and trade policy uncertainty (TPU) on the energy market from January 2000 to July 2021 by employing a time-varying parameter vector autoregressive model with stochastic volatility. The results show that the pass-through...

This research empirically analyzes the effect of social media on fragility. It goes beyond political grounds which oppose techno-optimistic to techno-pessimistic perceptions of the impact of social media to analyze its consequences on global, Security fragility, economic and social fragilities....

We study a model in which two players with opposing interests try to alter a status quo through instability-generating actions. We show that instability can be used to secure longer-term durable changes, even if it is costly to generate and does not generate short-term gains. In equilibrium,...

We investigate whether European banks adjust their loan prices and volumes of new lending in the months running up to major national elections. Using a unique dataset that draws on data covering some 250 banksin 19 Eurozone countries from 2010 to 2020 at monthly frequency, and that includes...