Terrorism, political system instability and currency rate fluctuations are the three most evident issues of 21st century. In this study, comparative analysis is performed to check the impact of all these issues on PSX Volatility. EGARCH (1,1) approach is used on four different kinds of data collected from 1st January 2000 to 31st December 2015. Terrorist events, FX return fluctuations with rest...

This paper presents a model tha t measures the impact of political risk on portfolio investment when the political risks are multivariate and correlated across countries. The multivariate approach generalizes the single country model but retains most of its characteristics in terms of its ability to price political risk based on the stochastic process of exposure to loss and the expected freque...

It is a piece of idle senthentality that truth, merely as truth, has any inherent power denied to error, or prevailing against the dungeon and the stake. Men are not more zealous for truth than they often are for error, and a sufficient application oflegal or even of social penalties will generally succeed in stopping the propagation of either. The real advantage which truth has, consists in th...

This paper develops a theory of the interaction between appropriative conflict and economic growth. Appropriative conflict, as measured by the diversion of resources, is viewed as the cost of securing effective property rights. We identify conditions under which conflict rises or falls as the rate of economic growth improves. The main implication of the analysis is that if the quality of proper...

Weaknesses in social protection and risk management systems within workplaces and in the wider public health environment and weak investment in health insurance and health services shift a significant share of the burden of production risks onto worker communities and under-funded public services. Inequality has been constructed by powerful economic and political interests and by weak policies ...

In many countries with weak political institutions, new ventures face challenges such as political risks, corruption, and civil conflict, which can severely hinder their ability to survive and grow. We explore how establishing affiliations at founding with coercive institutional actors can help new ventures overcome challenges characteristic of weak and volatile political environments. Our find...

Though political theorists have emphasized the importance of political discussion in non-political spaces, past study of online political discussion has focused on primarily political websites. Using a random sample from Blogger.com, we find that 25% of all political posts are from blogs that post about politics less than 20% of the time, because the vast majority of blogs post about politics s...