Tapas Mishra
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View article: Speed of Adjustment in Digital Assets in a Decentralized Financial World
Speed of Adjustment in Digital Assets in a Decentralized Financial World Open
This paper investigates the stability and co‐movement of cryptocurrency assets in Decentralized Finance (DeFi), with a focus on the Speed of Adjustment (SA), the rate at which shocks dissipate, and prices revert to long‐run equilibrium. SA…
View article: Inflation bites: The dynamic interdependence between financial market volatility and energy consumption during pandemic
Inflation bites: The dynamic interdependence between financial market volatility and energy consumption during pandemic Open
View article: Mergers and Acquisitions and Brexit: A Natural Experiment
Mergers and Acquisitions and Brexit: A Natural Experiment Open
We study the impact of Brexit uncertainty on one of the most important forms of corporate investment: mergers and acquisitions (M&As). Brexit provides us with an ideal natural experiment to explore the real effects of economic uncertainty …
View article: Are diversification benefits sustainable at uncertain times? Reflections from traditional indices and green and blue ETFs volatility Co-movement
Are diversification benefits sustainable at uncertain times? Reflections from traditional indices and green and blue ETFs volatility Co-movement Open
Thanks to the pressing environmental concerns, lately a substantive body of research have attempted to assess the magnitude of volatility spillover from traditional to the sustainable asset markets. Yet, we have insufficient understanding …
View article: CEO's Culture and Firms' Leverage Decisions
CEO's Culture and Firms' Leverage Decisions Open
Debt mitigates agency problems between managers and stockholders by reducing free cashflows; yet, why managers voluntarily adopt debt discipline remains unclear. This paper examines how chief executive officers' (CEOs') managerial traits, …
View article: How do institutional investors dictate corporate cash holdings in a financially constrained environment?
How do institutional investors dictate corporate cash holdings in a financially constrained environment? Open
Institutional investors use voting power to influence firms’ financial decisions, such as their inclination towards large cash during heightened economic uncertainty and slack resource environment. This paper exploits agency theory and ins…
View article: Does the EU sustainable finance disclosure regulation mitigate greenwashing?
Does the EU sustainable finance disclosure regulation mitigate greenwashing? Open
This paper examines the impact of the Sustainable Finance Disclosure Regulation(SFDR) on greenwashing by equity mutual funds in the EU. We propose a unique measure called the Greenwashing Index, based on a fund’s decarbonisation effort rel…
View article: Corruption and Stock Price Volatility: Firm-Level Evidence
Corruption and Stock Price Volatility: Firm-Level Evidence Open
View article: The Missing Space and the Urbanization-Crime Causal Narrative: Panel Data Evidence from OECD Countries
The Missing Space and the Urbanization-Crime Causal Narrative: Panel Data Evidence from OECD Countries Open
View article: Climate-Driven Risk, Adjustment Speed of Capital Structure, and Financial Stability
Climate-Driven Risk, Adjustment Speed of Capital Structure, and Financial Stability Open
View article: A Learning Model with Memory in the Financial Markets
A Learning Model with Memory in the Financial Markets Open
Learning is central to a financial agent's aspiration to gain persistent strategic advantage in asset value maximisation. The implicit mechanism that transforms this aspiration into an observed value gain is the speed of error corrections …
View article: Asset pricing in African frontier equity markets
Asset pricing in African frontier equity markets Open
This paper undertakes a horse races style comparison of the efficacy of a range of multifactor asset pricing models in explaining the cross section of stock returns in African securities markets. Valuation factors used include size, book-t…
View article: Spotting Portfolio Greenwashing in Environmental Funds
Spotting Portfolio Greenwashing in Environmental Funds Open
This paper examines greenwashing practices in environmental funds. We utilize a unique data set of US equity mutual fund holdings between 2012 and 2021 to calculate the funds’ carbon footprints. Using a difference-in-differences analysis, …
View article: International trade network and stock market connectedness: Evidence from eleven major economies
International trade network and stock market connectedness: Evidence from eleven major economies Open
Depth of cross-country international trade engagement is an important source of (the strength of) stock-market connectedness, depicting how directional attributes of trade determine the magnitude of spillover of stock returns across econom…
View article: The impact of bank mergers on corporate tax aggressiveness
The impact of bank mergers on corporate tax aggressiveness Open
View article: Unravelling Societal Risks of Decentralized Finance: A Systematic Review
Unravelling Societal Risks of Decentralized Finance: A Systematic Review Open
View article: Economic activity and suicides: Causal evidence from macroeconomic shocks in England and Wales
Economic activity and suicides: Causal evidence from macroeconomic shocks in England and Wales Open
The relationship between economic activity and suicides has been the subject of much scrutiny, but the focus in the extant literature has been almost exclusively on estimating associations rather than causal effects. In this paper, using d…
View article: Gold and the herd of Cryptos: Saving oil in blurry times
Gold and the herd of Cryptos: Saving oil in blurry times Open
This paper assesses the effectiveness of a broad set of 1066 active and continuously traded cryptocurrencies as a safe haven instrument against extreme oil price movements, in comparison to the corresponding roles of gold. The uncertainty …
View article: A memory in the bond: Green bond and sectoral investment interdependence in a fractionally cointegrated VAR framework
A memory in the bond: Green bond and sectoral investment interdependence in a fractionally cointegrated VAR framework Open
The urgency surrounding environmental sustainability has triggered an innovation of financing channels for climate and environmental projects. Green bond as one such channel has garnered immense interest from investors, with an implicit vi…
View article: Memory and Predictability of Bitcoin Prices: An Arfima-Aegas Approach
Memory and Predictability of Bitcoin Prices: An Arfima-Aegas Approach Open
View article: Corruption and Stock Price Volatility: Firm-Level Evidence
Corruption and Stock Price Volatility: Firm-Level Evidence Open
View article: Do Religious Freedom vis-a-vis Trade Openness Affect Economic Growth? A Cross-Country Empirical Investigation
Do Religious Freedom vis-a-vis Trade Openness Affect Economic Growth? A Cross-Country Empirical Investigation Open
Does religious freedom steer economic growth impact of trade-openness? This paper employs the method of moments-quantile regression to panel data of 117 developed and developing countries to show that countries that accommodate greater lib…
View article: International Trade-Network and Stock-Market Connectedness: Evidence from Seven Major Economies
International Trade-Network and Stock-Market Connectedness: Evidence from Seven Major Economies Open
View article: Monetary policy shock and impact asymmetry in bank lending channel: Evidence from the <scp>UK</scp> housing sector
Monetary policy shock and impact asymmetry in bank lending channel: Evidence from the <span>UK</span> housing sector Open
Banks play a defining role in translating monetary policy shocks to pull or push‐effects in the housing market. The literature is ambiguous on the exact role of bank lending channel (BLC) in translating such effects into either moderation …
View article: The power of investors’ optimism and pessimism in oil market forecasting
The power of investors’ optimism and pessimism in oil market forecasting Open
By modelling dynamism in the global oil market by three essential market-centric observables (viz., Market Expansion, Market Regime, and Market Liquidity), we study forecasting potential of the future oil markets within a memory-driven int…
View article: An integrated macroprudential stress test of bank liquidity and solvency
An integrated macroprudential stress test of bank liquidity and solvency Open
We propose a new measure of systemic financial distress that incorporates idiosyncratic and systemic risks in the financial system network. Using this measure, we develop an integrated stress test of bank liquidity and solvency risks based…
View article: Education, social identity and self-employment over time: evidence from a developing country
Education, social identity and self-employment over time: evidence from a developing country Open
While the extant literature suggests that an individual’s occupational choice depends on the level of economic development, little is known about how the dynamics of education and social identity impact self-employment choice over time in …
View article: A Memory in the Bond: Green Bond and Sectoral Investment
A Memory in the Bond: Green Bond and Sectoral Investment Open
View article: Luck or Skill: What Drives Hedge Fund Performance Persistence?
Luck or Skill: What Drives Hedge Fund Performance Persistence? Open
View article: Spotting Portfolio Greenwashing in Sustainable Funds
Spotting Portfolio Greenwashing in Sustainable Funds Open