Studies in Economics and Finance: Volume 37 Issue 1

The interbank payment network and financial system stability

Imaduddin Sahabat, Tumpak Silalahi, Ratih Indrastuti, Marizsa Herlina

The financial turbulence resulting from the global financial crisis sparked the interest in improving understanding of financial risks. The transmission of financial institution…

Excess liquidity premia of single-name CDS vs iTraxx/CDX spreads: 2007-2017

Mariya Gubareva

The aim of this research is twofold. First, we study average levels of liquidity for long-run through-the-cycle periods, which potentially allow eliminating procyclicality from…

Stock market performance and cross-border mergers and acquisitions in South Africa: 1991 to 2014

Kasyoka Magdalene Wilson, Désiré Vencatachellum

Since the attainment of fully fledged democracy in 1994, South Africa witnessed a substantial increase in both the number and the value of completed mergers and acquisitions…

Modelling industry interdependency dynamics in a network context

Ya Qian, Wolfgang Härdle, Cathy Yi-Hsuan Chen

Interdependency among industries is vital for understanding economic structures and managing industrial portfolios. However, it is hard to precisely model the interconnecting…

Financial technology: a review of extant literature

Vikas Sangwan, Harshita , Puneet Prakash, Shveta Singh

This paper aims to undertake a thematic review of academic papers on financial technology (FinTech) to identify three broad categories for the purpose of classifying extant…

A tale of two coffees? Analysing interaction and futures market efficiency

Mark J. Holmes, Jesús Otero

The purpose of this paper is to assess the informational efficiency of Arabica (other milds) and Robusta coffee futures markets in terms of predicting future coffee spot prices.

Monotonicity, linearity and symmetry in the price volatility–volume relationship: Evidence from energy futures markets

Panos Fousekis, Dimitra Tzaferi

This paper aims to investigate the contemporaneous link between price volatility and trading volume in the futures markets of energy.

Interest rate option hedging portfolios without bank account

Alberto Bueno-Guerrero

This paper aims to study the conditions for the hedging portfolio of any contingent claim on bonds to have no bank account part.

Leverage, investment, and recovery from a financial crisis: the role of debt overhang

Andreas Kuchler

Private investment in advanced economies contracted sharply during the downturn that followed the global financial crisis. A substantial debt overhang has been one proposed…

How did regulation and market discipline influence banking distress in Europe?: Lessons from the global financial crisis

Vitor Branco Oliveira, Clara Raposo

This paper aims to examine the relationship between regulation, market discipline and banking distress.