This paper investigates the Chicago Board Option Exchange Volatility Index's ('VIX') response to COVID-19 pandemic crisis, in terms of information efficiency. First, we estimate an Efficiency Index over rolling windows, based on closing levels, for a period between 1995-01-03 and 2020-12-30. Second, check presence deterministic chaos efficiency series, by using largest Lyapunov exponent sample, as well permutation entropy. However, do not find that these estimators provide clear evidence...

Abstract The United Nations' 2030 Agenda for Sustainable Development proposes the ambitious goal of an inclusive and sustainable economy. Thus, a realistic assessment individual countries' possibilities to implement Goals might provide helpful insights. We seek contribute existing literature by proposing working framework assessing, at country level, impact long‐run economic growth on societal development. is based composite models from Structural Equation Modeling‐SEM with Partial Least...

Within the current macroeconomic environment, innovation activity, especially radical one is developed under extreme uncertainty conditions. There are a number of researches proving existence severely asymmetrical information generated by activities. Our research objective focusses on whether or not development financial systems influences level innovation, also analyzing real impact several features system overall innovative process country. In this respect, we propose two-fold...

The continuous wavelet transform analysis may provide a rich and flexible framework for the of time series which exhibit less stable statistical properties, such as ones describing dynamic trajectory capital markets. In contrast to Fourier analysis, preserves information on both frequency. We summary most important features this framework. By involving concept coherence well its partial multiple forms, we analyse connections between Santiago Stock Exchange, Mexican Exchange BM&FBOVESPA São...

By using data related to the 15 European Union ?old? and ?new? Member States, for a time span between 2001 2014, present paper supports thesis of positive significant correlation quality governance entrepreneurial activity. In order test such correlation, elements Governance Quality reported by World Bank?s Worldwide Indicators (WGI) project were considered. Some key aspects activity reflected Total Early-Stage Entrepreneurial Activity, Perceived Opportunities Capabilities taken into account...

This paper uses data for the 27 Member States of European Union (EU) from 2000 to 2010 support thesis that a positive and significant correlation exists between nation's quality governance its economic output. To achieve this goal, elements have been reported by Worldwide Governance Indicators project are considered. Four individual indicators policies institutions global indicator constructed. We estimate that, our database, standard deviation shock in these causes changes 0.03-fold...

By using data for 45 countries, a time span between 2009 and 2014, the present paper supports thesis of positive significant correlation rule law capital market development. In order to achieve this goal, Rule Law variable reported by Worldwide Governance Indicators is considered. The relationship remains robust even if control variables such as other legal system variables, including protection minority investors, enforcing contracts or strength rights borrowers lenders well initial levels...

Abstract A stochastic volatility estimation of VIX index’s latent is used for the United States America, as a proxy adjustments in levels investors’ uncertainty related to current and future economic policies. The impact monetary policy stance on such measure examined framework distributed lag non-linear models (DLNM). We place this analysis literature stream emphasizing various sources heterogeneity concerning expectations. main finding that does non-linearly predictions. While tighter...

The intangibles can be viewed as strategic assets, since their inclusion in the structure of total assets allows economic entities to extract a "competiveness rent" and, thus, enhance outcomes activity.This paper seeks provide some empirical evidences for effects exercised by shocks emerged at level intangible-to-total ratio on profitability case 562 large companies listed Frankfurt Stock Exchange and London Exchange.We found that, full sample, there is relatively steady relationship between...

The nonlinear nature of financial data series and the intricate incorporation into market prices necessitate a comprehensive exploration key research findings, prevailing trends, intense debates, subfields in behavior realm. Studies exploring way which technical analysis can exploit deviation from efficiency stock markets, based on new prediction techniques (machine learning, deep artificial intelligence), are lacking. This study presents bibliometric assessment using Scopus database 1972 to...

Abstract Although a growing number of countries are experiencing structural societal changes characterised by an increased prominence post materialistic goals and personal values, there is limited empirical evidence on the economic effects materialism. In this paper, we address gap in literature estimating effect materialism level development for heterogeneous set countries. Furthermore, line with notion that institutions may act as transmission channel social estimate whether transmit...

This paper investigates the relationship between intra-industry trade (IIT), horizontal IIT, vertical IIT (VIIT) and immigration flows using a gravity model for period 1995-2008 amongst Portugal European Union’s Member States (EU-27). Using panel data approach, results show positive correlation IIT. These outcomes indicate that can reduce transaction costs home host country. We also consider economic dimension which appears to exercise effect on trade. Our research confirms hypothesis there...

This study is focused on the linkages between legislative families as descriptors of national systems and International Financial Reporting Standards (IFRSs) issued by Accounting Board (IASB). We consider such analysis a case for more general issue explaining preferences regulators in adoption foreign norms, rules, standards practices. By using dataset 162 jurisdictions dummy variables designed to capture current stage IFRSs and, respectively, taxonomy their systems, we find that full likely...

The main purpose of this paper is to test the impact corporate governance quality on financial structure companies using a dataset covering 35 developing countries from Central and Eastern Europe as well Asia.Five variables related eleven provided by World Bank Database are grouped in two synthetic descriptors involving Principal Components Analysis approach.In order existence possible linkage between these we used Generalized Linear Models framework.To check robustness results, accordingly...