Global markets seem to be increasingly integrated but there is no well-accepted measure of
integration. We show that the correlation across markets is a poor measure; perfectly …

Using a sample of 1992 banks from 39 OECD countries during the 1999–2013 period, we
examine whether the imposition of higher capital ratios is effective in reducing risk and …

We provide an analysis of frontier market equities with respect to world market integration and
diversification. Principal component results reveal that frontier markets exhibit low levels of …

We propose a protocol for identifying genuine risk factors. A genuine risk factor must be
related to the covariance matrix of returns, must be priced in the cross-section of returns, and …

This article proposes a theoretical testable capital asset pricing model for partially segmented
markets. We establish that if some investors do not hold all international assets because of …

Purpose – This study seeks to examine the peculiarities of the venture capital market in
China and seeks to compare it with Western markets. Design/methodology/approach – The …

Usually, gold and the Dollar are negatively related; when the Dollar price of gold increases,
the Dollar depreciates against other currencies. This is intuitively puzzling because it seems …

This paper contributes to the corporate governance literature by developing and testing
theory regarding positive and negative synergies between the CEO 's and the board's human …

We contribute to the corporate social responsibility (CSR) literature by investigating whether
the CSR of acquirers impacts mergers and acquisitions (M&A) completion uncertainty. …

To attenuate an inherent errors-in-variables bias, portfolios are widely employed to test
asset pricing models; but portfolios might mask relevant risk- or return-related features of …