The authors performed a comprehensive time series segmentation study on the 36 Nikkei Japanese industry indices from 1 January 1996 to 11 June 2010. From the temporal distributions of the clustered segments, we found that the Japanese economy never fully recovered from the extended 1997– 2003 crisis, and responded to the most recent global financial crisis in five stages. Of these, the second a...

This study, using wavelet-based method investigates the dynamics of long memory in the returns and volatility of equity markets. In the sample of five developed and five emerging markets we find that the daily return series from January 1988 to June 2013 may be considered as a mix of weak long memory and mean-reverting processes. In the case of volatility in the returns, there is evidence of lo...

Information technology is crucial in many industries and is seen as a decisive factor of a firm’s performance and financial success. Based on the dynamic capabilities view, this paper aims at extending existing research on organizational IT capability and performance. In particular, this work examines if firms exhibiting superior IT capability outperform their competitors, especially during two...

We build the network of the top 190 Italian quoted companies during the two financial crises of 2008-2009 (US credit crisis) and 2010-2011 (European sovereign debt crisis) and compare its structure to the pre-crises years, using both minimum spanning trees and the full network with thresholds. We also analyze the centrality and compactness of industry sectors. We find a general contraction of t...

Credit Default Swaps (CDS) spreads should reflect default risk of the underlying corporate debt. Actually, it has been recognized that CDS spread time series did not anticipate but only followed the increasing risk of default before the financial crisis. In principle, the network of correlations among CDS spread time series could at least display some form of structural change to be used as an ...

OBJECTIVE The present paper investigated the impact of the 2008 financial crisis on food security in Mexico and how it disproportionally affected vulnerable households. DESIGN A generalized ordered logistic regression was estimated to assess the impact of the crisis on households' food security status. An ordinary least squares and a quantile regression were estimated to evaluate the effect o...

The 2008-2012 global financial crisis began with the global recession in December 2007 and exacerbated in September 2008, during which the U.S. stock markets lost 20% of value from its October 11 2007 peak. Various studies reported that financial crisis are associated with increase in both cross-correlations among stocks and stock indices and the level of systemic risk. In this paper, we study ...

Available online 24 January 2014 This study complements the governance literature by investigating how Taiwan listed firms adjusted their governance structure to cope with the 2008 financial crisis. The results from the principal component analysis (PCA) suggest that there are significant differences in the factor scores, such as Board Power (of the Largest Shareholders), Information Transparen...