We measured the splay (K11) and bend (K33) elastic constants in the nematic phase of a bent-core liquid crystal. In the vicinity of the nematic-isotropic transition temperature K33 is proportional to the square of the order parameter. In the nematic range K11 increases monotonically with decreasing temperature, whereas K33 is practically independent of temperature and is smaller than K11 . K33 ...

This paper investigates the impact of stock markets and banks on economic growth using a panel data set for the period 1976-98 and applying recent GMM techniques developed for dynamic panels. Econometrically, the paper illustrates the differences that emerge from different panel procedures. On balance, we find that stock markets and banks positively influence economic growth and these findings ...

This paper studies disclosure dynamics and its implications for stock returns. Because disclosure is costly, the firm may withhold information for some time even when information is favorable. In equilibrium, the firm adopts a regular time-pattern of disclosure. Breaking this regularity, by failing to issue a disclosure when expected, leads to a sharp drop in the stock price and to a period of ...

This paper investigates the impact of stock markets and banks on economic growth using a panel data set for the period 1976-98 and applying recent GMM techniques developed for dynamic panels. On balance, we find that stock markets and banks positively influence economic growth and these findings are not due to potential biases induced by simultaneity, omitted variables or unobserved country-spe...

oil-exporting economies largely dependent on oil revenues and oil income fluctuation are one of the most important factors that influence sectors of the economy specially the stock market. this paper investigate the relationship between oil markets and stock return volatility and transmission in a selection of opec countries, using a multivariate garch models (full-vech) over the period may 201...

This paper documents that political factors can be linked to the part of stock prices that cannot be explained by the standard present value models. The non-fundamental component of stock market index appears to be significantly influenced by the political orientation of the president and his approval rating, election cycle and military conflicts. The findings presented here indicate that there...

We use data on a movie’s stock price as it trades on the Hollywood Stock Exchange, a popular online market simulation, to study the impact of movie advertising. We find that advertising has a positive and statistically significant effect on expected revenues, but that the effect varies strongly across movies of different ‘‘quality’’. The point estimate implies that the returns to advertising fo...

The Journal of Economic Literature codes classification system (JEL) published by the American Association (AEA) is de facto standard for research literature in economics. JEL used to classify articles, dissertations, books, book reviews, and working papers EconLit, a database maintained AEA. Over time, it has evolved extended with over 850 subclasses. This paper reviews history development sys...

This paper proposes an approach to the intraday analysis of diversified world stock accumulation indices. The growth optimal portfolio (GOP) is used as reference unit or benchmark in a continuous financial market model. Diversified portfolios, covering the world stock market, are constructed and shown to approximate the GOP, providing the basis for a range of financial applications. The normali...

The authors examine the link between consumption and disaggregate wealth in Canada. They use a vector-error-correction model in which permanent and transitory shocks are identified using the restrictions implied by cointegration proposed by King, Plosser, Stock, and Watson (1991) and Gonzalo and Granger (1995). This procedure allows the authors to identify the reaction of consumption to both ty...