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The role of exchange rate in inflation targeting: the case of Turkey

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Asset pricing in an Islamic economy

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Collaborative innovation and policy support: the emergence of trilateral...

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The effects of economic policy uncertainty on China’s economy: evidence...

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REIT industry liquidity, valuation, and ownership reactions to ETF inceptions

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R&D cooperation in SMEs: the direct effect and the moderating role of...

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Exchange rate dynamics in South Africa

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Estimation of the rate of return to capital in the East African Community...

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The costs of tax havens: evidence from industry-level data

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Bridging the gap in creative economy and ICT research: a regional analysis in...

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Deep learning vs. machine learning: Understand the differences

Deep learning vs. machine learning: Understand the differenceshttps://t.co/hzoO3cTXtq — moneyscience (@moneyscience) January 7, 2020

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The Mathematical Center of the Universe

The University of Göttingen (1800–1933)Continue reading on Cantor’s Paradise »

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Does Option-Based Compensation Affect Payout Policy? Evidence from FAS 123R

Does option-based compensation affect payout policy? To address this question, we examine the adoption of mandatory expensing of stock options. Our identification strategy exploits the fact that the...

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The Effect of Financial Flexibility on Payout Policy

We use variation in real estate prices as exogenous shocks to firms’ debt capacity to study the causal effect of financial flexibility on payout policy. We show that an increase in financial...

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Do Mutual Fund Investors Overweight the Probability of Extreme Payoffs in the...

We investigate the role of extreme positive payoffs in the distribution of monthly fund returns in investors’ mutual fund preferences. We document a positive and significant relationship between the...

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The Market Microstructure of Central Bank Bond Purchases

We study quantitative easing (QE) policies from a microstructure perspective, drawing on intraday transaction-level data for German bonds (purchased under the Eurosystem’s QE program). An initial...

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Centralized Trading, Transparency, and Interest Rate Swap Market Liquidity:...

We use proprietary transaction data on interest rate swaps to assess the effects of centralized trading, as mandated by Dodd–Frank, on market quality. Contracts with the most extensive centralized...

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Government Intervention and Strategic Trading in the U.S. Treasury Market

We study the impact of permanent open market operations (POMOs) by the Federal Reserve on U.S. Treasury market liquidity. Using a parsimonious model of speculative trading, we conjecture that i) this...

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Short Selling and Price Discovery in Corporate Bonds

We show short selling in corporate bonds forecasts future bond returns. Short selling predicts bond returns where private information is more likely, in high-yield bonds, particularly after Lehman...

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Signaling in OTC Markets: Benefits and Costs of Transparency

We provide a theoretical rationale for dealer objections to ex post transparency in over-the-counter markets. Disclosure of the terms of a transaction conveys information possessed by the dealer about...

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