Search results for "Mercat Anàlisi"
showing 7 items of 7 documents
A systematic review of sovereign connectedness on emerging economies.
2019
This article systematically reviews the academic literature on emerging market contagion in order to summarize what we have learnt about the transmission channels existing in these countries. Given the large body of academic research focused on this topic, we especially direct our attention to the strand of the literature that defines and empirically analyses this topic as the significant increase in the cross-market correlations between asset returns during crisis periods or when a shock occurs. The survey covers the findings on financial contagion in the stock, bond, exchange and credit default swap markets during a large period that covers several crises that have characterized the relat…
Is the leadership of the Brent-WTI threatened by China's new crude oil futures market?
2020
Abstract The recent listing of a new crude oil futures contract on the Shanghai International Energy Exchange (INE) has reopened the debate over whether crude oil produced in different countries or locations constitutes a unified world oil market. The aim of this paper is to study the information flows among Brent, West Texas Intermediate (WTI) and the new Medium Sour Crude Oil (SC) futures contract listed on INE futures markets to assess whether the trading of this new futures contract has altered the dominant role of the most traded oil benchmarks in the world. A multiple regression model identifies the Brent futures market as the most influential market in the oil price discovery process…
Holidays, weekends and range-based volatility
2020
Abstract This study analyses the effect of non-trading periods on the forecasting ability of S&P500 index range-based volatility models. We find that volatility significantly diminishes on the first trading day after holidays and weekends, but not after long weekends. Our findings indicate that models that include autoregressive terms that interact with dummies that allow us to capture changes in volatility levels after interrupting periods provide greater explanatory power than simple autoregressive models. Therefore, the shorter the length of the non-trading periods between two trading days, the higher the overestimation of the volatility if this effect is not considered in volatility for…
Crowding-out effect and sorting in competitive labour markets with motivated workers
2018
ABSTRACTThis article makes a contribution to the economics literature by inducing proper self-selection into contracts based on workers’ motivation. The novelty of our results is that it points out the alternative potential role of the crowding-out effect to separate workers based on their motivation.
Arbitrage opportunities and event impacts on Spanish rights issues
2022
In equity offerings in which pre-emptive subscription rights are issued, there are two ways of acquiring the company's shares: either by buying them directly on the market, or by subscribing to the new shares using the subscription rights. This could lead to the existence of arbitrage opportunities. In addition, the announcement of these processes incorporates very relevant information to the market, which could generate abnormal returns for the shares. This paper analyses both hypotheses simultaneously on the same sample and concludes that there are indeed arbitrage opportunities and also abnormal returns can be detected. Furthermore, it is also concluded that these effects are especially …
The role of the store in managing postpurchase complaints for omnichannel shoppers
2020
Abstract This paper focuses on postpurchase complaint behavior to understand under which conditions omnichannel shoppers choose to complain at the physical store instead of doing it through online channels. Using fuzzy-set Qualitative Comparative Analysis (fsQCA), we find that four different combinations of situational, channel-related, and individual variables lead to complaining at the store. The motivation of seeking redress together with assertiveness and high dissatisfaction, play an essential role in the choice of complaint channel. The channel of purchase is not determinant for the choice of the store to complain. These findings have implications in terms of redefining the role of th…
Studying students ́satisfaction at music schools in the Valencian Region
2017
[EN] Satisfaction is a key construct but complex to be measured. Within the cultural context and from the discipline of marketing, satisfaction consists of assessing some experiences without considering consumers ́ expectations. From this approach, this paper deals with an empirical research aiming at analyzing satisfaction among students of music conservatoires and schools. The research, qualitative and quantitative in nature, allowed to know users ́ assessment of different variables: studies, teaching staff, information technologies, premises and administration procedures. To do so, a self-administered survey was conducted using a structured questionnaire. Univariate and multivariate anal…