The informational efficiency: the emerging markets versus the developed markets

Risso, Wiston Adrián

doi:10.1080/17446540802216219

Cited by 58 publications

(33 citation statements)

References 10 publications

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“…On the other hand, RCEOs also have potential disadvantages and may actually limit innovation performance [12]. Firstly, according to imprinting theory, having stayed abroad for a long period of time, RCEOs are imprinted with developed institutional environments, such as developed capital markets [27], higher informational efficiency levels [28], and strong intellectual property protection [23]. The imprinted experiences exert a persistent influence on CEOs and make it hard for them to re-adapt to the underdeveloped institutional environment [12].…”

Section: Rceo and Enterprise Innovationmentioning

confidence: 99%

Does the Level of Environmental Uncertainty Matter in the Effect of Returnee CEO on Innovation? Evidence from Panel Threshold Analysis

2019

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This study applies a panel threshold regression model to reconcile the inconsistent findings about returnee chief executive officer (CEO) effects on enterprise innovation using the environmental uncertainty as the threshold variable and panel data from 187 publicly traded electronic firms in China for the period 2012–2016. The empirical results suggest that a significant double threshold effect does exist, showing an inverted-U correlation between returnee CEO and innovation. Specifically, a returnee CEO significantly promotes innovation at moderate levels of environmental uncertainty but significantly hinders innovation when the environmental uncertainty surpasses the larger threshold value, which contradicts much of the previous literature. This research enriches the scholarship on returnee CEOs and lays a theoretical foundation that firms can use in corporate governance. If firms pay more attention to environmental uncertainty while formulating new CEO introduction policies, substantial innovation ability can be improved at moderate levels of environmental uncertainty.

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Section: Rceo and Enterprise Innovationmentioning

confidence: 99%

Does the Level of Environmental Uncertainty Matter in the Effect of Returnee CEO on Innovation? Evidence from Panel Threshold Analysis

2019

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“…The overall result was that developing countries are more efficient than emerging markets, whereas Asian countries were the least efficient. In comparison Risso [2009] compared 20 emerging and developed markets and concluded that the Asian markets of Taiwan, Singapore and Japan were the most efficient. The last positions were taken by the ex-socialist countries such as Russia and Slovenia.…”

Section: Developed Versus Emerging Marketsmentioning

confidence: 99%

Testing the weak-form efficiency of agriculture’s capital markets

Ghimire¹,

Annussek²,

Harvey³

et al. 2016

EBR

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The risk of the increasing divergence of the eurozone and the problem of macroeconomic imbalances in a three-gap model Jacek Pera Structural barriers to research and development activities in emerging markets Review, Vol. 2 (16), No. 2, 2016: 3-17 DOI: 10.18559/ebr.2016Thus we finally rejected the null hypothesis for all indices in all periods. Accordingly agriculture's developed markets are equally inefficient and predictable as its emerging markets. The results of this work suggest that investors can achieve superior returns by investing in agricultural equity markets following a technical analysis and active portfolio approach. Thus this work is in great interest of investors and portfolio managers following an agriculture strategy. The study adds value to current research of market efficiency in developed as well as emerging markets.

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“…Utilizing a similar methodology, in [49], the dynamics of exchange market is studied, and in [50], the international hotel industry in Spain is analyzed. In [51,52], STSA and entropy are applied to measure informational efficiency in financial markets.…”

Section: Stsa In Applied Sciencesmentioning

confidence: 99%

Symbolic Time Series Analysis and Its Application in Social Sciences

Risso¹

2018

Time Series Analysis and Applications

Self Cite

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The present chapter intents to present the symbolic time series analysis (STSA) reviewing the recent developments in sciences. Even if there are very few works applied to social sciences, STSA has a potential to be developed. In particular, due to the limitations about historical data, fields such as Economics and Finance need to develop statistical tests to prove their hypotheses. An independence test and a causality test based on STSA are reviewed. They seem to be more powerful, detecting different kinds of nonlinearities compared with the classical tests, usually applied in social sciences. However, there is much work to do with STSA, and social sciences are a fertile field for the development of new powerful tools.

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The informational efficiency: the emerging markets versus the developed markets

Cited by 58 publications

References 10 publications

Does the Level of Environmental Uncertainty Matter in the Effect of Returnee CEO on Innovation? Evidence from Panel Threshold Analysis

Does the Level of Environmental Uncertainty Matter in the Effect of Returnee CEO on Innovation? Evidence from Panel Threshold Analysis

Testing the weak-form efficiency of agriculture’s capital markets

Symbolic Time Series Analysis and Its Application in Social Sciences

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