We investigate non-linearities in the stock return trading volume relationship by using daily data for 16 European countries in an asymmetric vector autoregressive model. In this framework, we test for asymmetries and analyze the dynamic relationship using a simulation based procedure for computing asymmetric impulse response functions. We find that stock returns have a significant influence on...

the main purpose of this study is to determine welfare impacts of trade liberalization on maize market. for this purpose, we used from time series data for the period 1961/2009 and estimated domestic supply, domestic demand and import demand for maize. results of estimation showed that price elasticity of supply and demand is 0.32 and -0.25, respectively. then, by means of these elasticities, w...

This paper studies the cross-sectional risk-return trade-off in the stock market. A fundamental principle in finance is the positive relation between risk and expected return, whereas recent empirical evidence suggests the opposite. We apply referencedependent preferences to shed light on this violation. Reference-dependent preferences (e.g., prospect theory) typically posit that when facing pr...

to promote their exports and get access to world market, many countries have adopted the policy of exports subsidies. subsidies are usually provided by governments or state bodies which cause adverse effects to the interests of another member of countries or disturb the process of free trade worldwide. world trade organization (wto) which is established on free and fair trade, has put limitatio...

This paper investigates if the equity stake, along with hedge funds, generates value for target companies in highly concentrated markets, such as Brazilian one. In a sample 324 listed São Paulo Stock Market (B3) that are actively participating Anbima Hedge Fund Index (IHFA), between 2007 and 2016, we found stake of funds invested companies, despite market being more concentrated. We capture fun...

among the main factors of friendly commercial and political relations between safavid iran and india were reciprocal needs and policies of safavid kings concerning trade development. thus, various regions of iran, especially isfahan, had became a good market for indian goods. isfahan as a capital of safavid state was a centre of commercial activities of such indians as baniyans, multanians, and...

he main purpose of this research is to answer the question that "How neighborhood of Iran's trading partners will have an effect on Iran intra-industry trade? For this purpose, the impact of spatial neighborhood effects of 23 major trade partners on Iran’s intra-industry trade for the period of 1995-2014, has been investigated through Spatial Panel Econometric and Maximum Likelihood Estimator (...