Suchergebnisse

© 2020 The Authors. This note investigates the effects of the recent political tensions in the Arabian peninsula on the linkages between the stock markets of the leading Gulf Cooperation Council countries by estimating a VAR-GARCH(1,1) model at a weekly frequency. The results indicate that the June 2017 crisis lowered stock market returns and generally led to greater volatility spillovers within the region. This evidence supports the need for further financial integration and suggests fewer portfolio diversification opportunities for investors in the Gulf Cooperation Council region. ; Qatar University Grant no. QUCP-CBE-2018-1. ; A preprint of this article was published as cesIFO working paper 7341, 2018 (available at https://www.ifo.de/DocDL/cesifo1_wp7341.pdf)

AbstractThis paper investigates the impact of social media interest and sentiment surrounding the 2020 National Basketball Association's involvement with the Black Lives Matter movement on the television audience in the United States. Twitter (now known as X) serves as the chosen social media platform, and we determine the sentiment expressed in tweets (messages posted on Twitter) using the XLM-RoBERTa deep language model. Our primary findings indicate that the quantity of users' posts does not significantly influence TV viewership; instead, the tone of the messages plays a crucial role. Positive messages supporting the NBA's engagement correlate with an increase in the number of viewers, while those expressing opposition do not. We argue that this asymmetry may stem from a positive elasticity among casual (non-habitual) NBA viewers concerning positive sentiments toward NBA involvement. These viewers are likely to align with the NBA's stances on civil rights and BLM. In contrast, the core NBA fan base exhibits inelastic demand and is unlikely to cease watching NBA games. A comprehensive set of robustness checks reinforces the validity of our key conclusions.

Recent years have seen a rapid increase in legislation governing, protecting, and rewarding whistleblowers. Whereas the EU recently enacted a Directive protecting whistleblowers, the US has gone one step further long ago, not only protecting them but also offering substantial monetary rewards for their information. In this paper. we review the evidence for the effectiveness of US whistleblower reward programs and consider some recent novelties. We also consider objections against these programs and local factors in the US that likely contribute to their success. Finally, we voice some concerns over the EU Directive's ability to achieve its policy objective of enhancing enforcement of Union law.

In the last two decades prolonged instances of corporate wrongdoing in Europe have been un-covered: from Siemens' systemic bribery to HSBC and other major bank's money laundering issues, Dieselgate, LIBOR price-rigging, and the recent Wirecard debacle. What has driven European firms to engage in such systematic wrongdoing? In this article, we first use data on US investigations to identify the European countries hosting most corporate wrongdoers. We then consider these countries' legal, institutional, and political contexts in search for explanations of the main enablers of this behavior, ending with some policy recommendations.