This thesis consists of three papers on different topics on international financial markets. The first paper provides insights into the dynamics of decreasing asset prices. I show how preferences in line with cumulative prospect theory can explain the temporary reversal of the d…
"311" Result
Sort By:
How inclusive is inclusive finance? In this thesis, I examine a phenomenon which I describe as ‘bifurcated banking’. Exploring the case of Pakistan, I observe that policies of inclusive finance generate a heterogeneous financial space. The institutionalisation of inclusive finan…
This thesis analyses the effects of certain real shocks on the nominal and real exchange rates. The first chapter analyses the impact and long run effects of an open market operation when domestic and foreign assets are imperfect substitutes. The nominal exchange rate overshoots…
This research aims to evaluate the currently applied valuation approaches in practice among German and Swiss professional investors for renewable energy (RE) projects based on an explanatory, sequential, mixed-methods (MM) research approach, compared to existing financial theory…
This study highlights the role of cash flow forecasting process in capital budgeting decisions, where the forecasting process starts with identifying the procedures and methods used in forecasting, and ends by estimating future cash flow required by managers for decision-making.…
Using a comprehensive firm-level dataset from the National Bureau Statistics (NBS) of China over the period 2000-2007, this thesis studies political connections, intended as the \(lishu\) relationship between Chinese manufacturing firms and central, provincial or local governmen…
The development of an international financial centre has long been an interesting topic to economists, researchers and policy makers. Understanding the development process and the critical success factors helps much in formulating the suitable strategic development plan for the …
The aim of this thesis is to contribute to the existing empirical financial literature on the determinants of capital structure and adjustment process, cost of debt determinants and the affect of capital structure on profitability in the context of non-financial Small and Medium…
Since Jensen (1968), performance evaluation of managed funds has been a popular topic in Finance. Whilst most of the studies have been focused on the US mutual funds, the evaluation of fund performance in the UK has been relatively few. This thesis investigates if active equity …
This thesis contributes to the current discourse around co-evolution, this study investigates co-evolution between the South African venture capital industry and the South African government. Using a qualitative method which involved gathering data from archival sources and cont…
The main motivation for this thesis is to introduce some new methodologies for the prediction of the directional movement of financial assets with an application to the ASE20 Greek stock index. Specifically, we use some alternative computational methodologies named Evolutionary …
This Ph.D. thesis considers making some contributions to the asset pricing and financial risk management literature. First of all it offers some dynamics in the area of asset pricing which are practically implement able for pricing European style options. More precisely it consi…
What causes managers to manipulate their financial statements? How best can shareholders or prospective investors, auditors, financial analysts and regulators detect earnings manipulations? Addressing these questions is of critical importance to the efficient functioning of capi…
This thesis explores the argument that the need for governments to raise tax revenue, as opposed to relying on resource rents or other sources of non-tax revenue, may increase the likelihood that they will be responsive and accountable to their citizens. It employs a combination…
This thesis analyses farm household behaviour and livelihood strategies in the presence of market imperfections. The first chapter uses a farm household model to explain the presence of three household groups determined on the basis of the labour regime adopted: small-scale peas…
Since the early 1990s electricity reforms across Sub-Saharan Africa have been marked by controversy. Despite the World Bank's major role in driving electricity reform as part of its conditional lending strategy in the electricity sector, its relationship with recipient countries…
The main motivation of this thesis is to contribute to the literature on the macroeconomic effects of foreign aid flows. It consists of four empirical papers, investigating the two main channels through which aid flows impact the recipient economy: (i) the fiscal sector, and (ii…
Venture capital (VC) is widely perceived by UK policymakers to be a key requirement for the growth and development of successful and innovative early stage firms. This thesis examines how government policy has impacted the emergence of VC sectors in the UK and US. Using historic…
This study investigates the predictive ability of current and past cash flows with respect to the estimation of future cash flow, and compares this predictive ability with that of current and past earnings. Future cash flow is estimated in this study on the basis of a model hier…