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Political uncertainty and sentiment: Evidence from the impact of Brexit on financial markets (2020)
Journal Article
Hudson, R., Urquhart, A., & Zhang, H. (in press). Political uncertainty and sentiment: Evidence from the impact of Brexit on financial markets. European Economic Review,

This paper investigates whether the impact of Brexit on financial markets is consistent with rational asset pricing models using 34 financial indices. Our results indicate that, whilst Brexit events affect both the risk and returns of stocks, the ret... Read More about Political uncertainty and sentiment: Evidence from the impact of Brexit on financial markets.

Improving forecasting accuracy of the Phillips Curve in OECD Countries: The role of commodity prices (2020)
Journal Article
Salisu, A. A., Swaray, R., & Sa'id, H. (in press). Improving forecasting accuracy of the Phillips Curve in OECD Countries: The role of commodity prices. International journal of finance & economics : IJFE,

We investigate the power of commodity prices to improve inflation forecast performance in 21 OECD countries, within the framework of commodity prices-augmented Phillips curve model. Using monthly data spanning over 57 years, we use single and multi-f... Read More about Improving forecasting accuracy of the Phillips Curve in OECD Countries: The role of commodity prices.

Why do some merger and acquisitions deals fail? A global perspective (2020)
Journal Article
Attah-Boakye, R., Guney, Y., Hernandez-Perdomo, E., & Mun, J. (in press). Why do some merger and acquisitions deals fail? A global perspective. International journal of finance & economics : IJFE,

We analyze why some merger and acquisitions (M&A) deals are withdrawn paying particular attention to the economic freedom and legal environment of countries. We use a large dataset based on deals worldwide from over 140 countries during the period 19... Read More about Why do some merger and acquisitions deals fail? A global perspective.

In search of stock repurchases determinants in listed Indonesian firms during regulatory changes (2020)
Journal Article
Moin, A., Guney, Y., & Kalak, I. E. (2020). In search of stock repurchases determinants in listed Indonesian firms during regulatory changes. Journal of Economic Behavior and Organization, 176, 145-165. https://doi.org/10.1016/j.jebo.2020.04.013

Motivated by the introduction of share repurchases regulations in 1998 and 2007 coupled with unique characteristics of the Indonesian market, we investigate the effect of firms’ sub-optimal financial position on their share repurchases decisions. The... Read More about In search of stock repurchases determinants in listed Indonesian firms during regulatory changes.

Is corporate hedging always beneficial? A theoretical and empirical analysis (2020)
Journal Article
Ahmed, H., Fairchild, R., & Guney, Y. (in press). Is corporate hedging always beneficial? A theoretical and empirical analysis. The European journal of finance,

This paper investigates, theoretically and empirically, the impact of corporate hedging activities on firm value/performance. In a perfect market, with self-less management, aiming to maximise shareholder wealth, it may be expected that hedging would... Read More about Is corporate hedging always beneficial? A theoretical and empirical analysis.

Market frictions and the geographical location of global stock exchanges. Evidence from the S&P Global Index (2020)
Journal Article
Hudson, R., & Gregoriou, A. (in press). Market frictions and the geographical location of global stock exchanges. Evidence from the S&P Global Index. Journal of Economic Studies, https://doi.org/10.1108/JES-03-2020-0091

We examine the impact of trading costs on investor average holding periods for the S&P global 1200 index. We report overwhelming evidence that global equity indices cannot be pooled. When we differentiate between stock indices based on their geograph... Read More about Market frictions and the geographical location of global stock exchanges. Evidence from the S&P Global Index.

Asymmetric volatility spillovers between economic policy uncertainty and stock markets: Evidence from China (2020)
Journal Article
Wang, Z., Li, Y., & He, F. (2020). Asymmetric volatility spillovers between economic policy uncertainty and stock markets: Evidence from China. Research in international business and finance, 53, https://doi.org/10.1016/j.ribaf.2020.101233

This study explores the spillovers between economic policy uncertainty (EPU) and stock market realized volatility (RV). The monthly index of Chinese and US EPU and RV are used to analyze the pairwise directional spillovers. We find that RV is a net r... Read More about Asymmetric volatility spillovers between economic policy uncertainty and stock markets: Evidence from China.

Climate governance effects on carbon disclosure and performance (2020)
Journal Article
Bui, B., Houqe, M. N., & Zaman, M. (in press). Climate governance effects on carbon disclosure and performance. The British accounting review, https://doi.org/10.1016/j.bar.2019.100880

Integration of carbon oversight into board structures and processes has the potential to improve carbon performance and demonstrate accountability to stakeholders. However, it is not clear how climate governance affects carbon disclosure. Contributin... Read More about Climate governance effects on carbon disclosure and performance.

Quantile stochastic frontier models with endogeneity (2020)
Journal Article
Tsionas, M. G., Assaf, A. G., & Andrikopoulos, A. C. (2020). Quantile stochastic frontier models with endogeneity. Economics letters, 188, https://doi.org/10.1016/j.econlet.2020.108964

In this paper, we extend Jradi et al. (2019). First, we use the asymmetric Laplace distribution which is a more reasonable assumption in quantile models. Second, we address the issue of statistical inference for the optimal quantile. Finally, we allo... Read More about Quantile stochastic frontier models with endogeneity.

On a High-Dimensional Model Representation method based on Copulas (2020)
Journal Article
Tsionas, M. G., & Andrikopoulos, A. (in press). On a High-Dimensional Model Representation method based on Copulas. European journal of operational research, https://doi.org/10.1016/j.ejor.2020.01.026

This article provides an alternative to High-Dimensional Model Representation using a Copula approximation of an unknown functional form. We apply our methodology in the context of an extensive Monte Carlo study and to a sample of large US commercial... Read More about On a High-Dimensional Model Representation method based on Copulas.

The impact of governmental intervention on the association between initial public offering and future stock issuance (2020)
Journal Article
Gounopoulos, D., Guney, Y., Leng, J., & Patsika, V. (in press). The impact of governmental intervention on the association between initial public offering and future stock issuance. British Journal of Management, https://doi.org/10.1111/1467-8551.12400

We examine the effect of initial public offering (IPO) characteristics on seasoned equity offering (SEO) decisions in relation to governmental intervention in China. Our results confirm the process of underpriced IPOs in promoting earlier and larger... Read More about The impact of governmental intervention on the association between initial public offering and future stock issuance.

Exploring the development of Islamic banking in Nigeria using an actor-network theory perspective (2020)
Journal Article
Sa'id, H. (2020). Exploring the development of Islamic banking in Nigeria using an actor-network theory perspective. Journal of Islamic Accounting and Business Research, https://doi.org/10.1108/JIABR-02-2018-0027

Purpose – The purpose of this paper is to investigate the evolution of Islamic banking in Nigeria. Design/methodology/approach – The paper adopts a qualitative approach using 25 semi-structured interviews together with documentary analysis in order t... Read More about Exploring the development of Islamic banking in Nigeria using an actor-network theory perspective.

Stock liquidity and return distribution: Evidence from the London Stock Exchange (2020)
Journal Article
Wang, A., Hudson, R., Rhodes, M., Zhang, S., & Gregoriou, A. (2020). Stock liquidity and return distribution: Evidence from the London Stock Exchange. Finance research letters, https://doi.org/10.1016/j.frl.2020.101539

We investigate the relationship between liquidity and the distribution of returns, for all listed firms on the London Stock Exchange between 2002-2018. We find a strong relationship between the distribution of returns, as measured by skewness and kur... Read More about Stock liquidity and return distribution: Evidence from the London Stock Exchange.

An empirical study of the cross market efficiency of the index options market: A case study from the Italian derivatives market (2020)
Journal Article
Hudson, R., & El Kalak, I. (2020). An empirical study of the cross market efficiency of the index options market: A case study from the Italian derivatives market. Review of accounting & finance, https://doi.org/10.1108/RAF-11-2016-0184

© 2020, Emerald Publishing Limited. Purpose: This study aims to examine the cross-market efficiency of the FTSE/MIB index options contracts traded on the Italian derivatives market (IDEM) during a period including the financial crisis between 1st Oct... Read More about An empirical study of the cross market efficiency of the index options market: A case study from the Italian derivatives market.


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