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Volatility Spillover Across Spot and Futures Markets: Evidence from Dual Financial System (2024)
Journal Article
Elsayed, A. H., Asutay, M., ElAlaoui, A. O., & Bin Jusoh, H. (in press). Volatility Spillover Across Spot and Futures Markets: Evidence from Dual Financial System. Research in International Business and Finance,

This paper investigates dynamic returns and volatility spillovers between spot and futures markets in a dual financial system. It further analyses the shock transmission of both volume trading and open interest in the futures market. Empirical result... Read More about Volatility Spillover Across Spot and Futures Markets: Evidence from Dual Financial System.

Does Fed communication affect uncertainty and risk aversion? (2024)
Journal Article
Chau, F., Deesomsak, R., & Shaikh, R. (in press). Does Fed communication affect uncertainty and risk aversion?. Review of Quantitative Finance and Accounting,

This paper examines whether the Federal Reserve (Fed) communication has significant impact on the level of uncertainty and risk aversion in the U.S., U.K., and Eurozone equity markets. We first apply computational linguistic tools to the Federal Op... Read More about Does Fed communication affect uncertainty and risk aversion?.

Endogenous monitoring through voluntary reporting in an infinitely repeated prisoner's dilemma game: experimental evidence (2024)
Journal Article
Kamei, K., & Nesterov, A. (2024). Endogenous monitoring through voluntary reporting in an infinitely repeated prisoner's dilemma game: experimental evidence. Economica, https://doi.org/10.1111/ecca.12539

Exogenous reputational information is known to improve cooperation. This study experimentally investigates how people create such information by reporting their partner's action choices, and whether endogenous monitoring helps to sustain cooperation,... Read More about Endogenous monitoring through voluntary reporting in an infinitely repeated prisoner's dilemma game: experimental evidence.

Testing the Development Impact of Islamic Banking: Islamic Moral Economy Approach to Development (2024)
Journal Article
Avdukic, A., & Asutay, M. (2024). Testing the Development Impact of Islamic Banking: Islamic Moral Economy Approach to Development. Economic Systems, https://doi.org/10.1016/j.ecosys.2024.101229

Redistributive justice and stakeholder development have been central objectives of the Islamic moral economy for which Islamic banking was considered a facilitatory operational tool. Being its institutional form, the emergence of Islamic finance is,... Read More about Testing the Development Impact of Islamic Banking: Islamic Moral Economy Approach to Development.

Generalist CEOs and stock price crash risk (2024)
Journal Article
Fang, X., Girardone, C., Li, Y., & Zeng, Y. (2024). Generalist CEOs and stock price crash risk. Journal of Business Finance and Accounting, https://doi.org/10.1111/jbfa.12804

We investigate whether generalist chief executive officers (CEOs), that is, CEOs who gain transferable skills across firms and industries, have less incentive to hoard bad news. To address endogeneity concerns stemming from firm–CEO matching, we depl... Read More about Generalist CEOs and stock price crash risk.