market-microstructure

Abstract This paper discusses how the Belt and Road Initiative (BRI) affect logistics infrastructure and supply chain performance in China and some of the Gulf Cooperation Council (GCC) countries, and specifically how the quality of governance moderate these effects. The analysis utilizes a balanced panel dataset between 1996 and 2023 that employs a fixed effect panel regression model, which comp…

This study aims to analyze the effect of the Coretax System and tax awareness on MSME taxpayer compliance in Pekanbaru, with tax sanctions as a moderating variable. This research uses a quantitative approach with a survey method. The sample consists of 200 MSME respondents registered at KPP Pratama Pekanbaru Senapelan who have implemented the Coretax System. Data analysis was conducted using mult…

Abstract The paper re-examines the principle of the bird-in-hand under the dynamic situation in the emerging spots market in Pakistan. Our sample consisted of 100 KSE—100 companies dating 2009–2024. The abnormal returns are separated out using an event study model and a rolling window version of the CAPM, and we have constructed a new Dividend Announcement Factor (DAF) to capture systematic varia…

Heterodox economics differs from orthodox or mainstream economics. It draws on a multiplicity of ideas, disciplines, methods and voices to present a more radical alternative to the dominant paradigm of neoclassical economics, which is viewed as overly narrow and blind-sided to how economies actually work. Andrew Trigg traces the heterodox tradition from its origins in the anti-capitalism ideas of…

Abstract Technology, finance, and energy are the key drivers to sustained growth and enhanced living standards in economies. This research adopts a framework that is built around the innovation-driven growth, finance-led growth, and energy-leg growth hypotheses to capture the various financial and technological mechanisms, and energy resources that drives economic growth. Therefore, the analysis …

Abstract This study examines the factors influencing gold prices within a comprehensive framework encompassing macroeconomic, financial, real, and geopolitical factors. By utilizing the Autoregressive Distributed Lag (ARDL) model and the Unrestricted Error Correction Model (UECM), the analysis captures both short-term dynamics and long-term equilibrium relationships. Robustness of the findings is…

The SpaceX S-1 is finally here, and the story it tells goes way further than rockets. The filing runs to 36 pages of risk factors alone, and the numbers inside match the ambition: a $28 trillion total addressable market, a pay package tied to establishing a Mars colony, and a valuation target that would make it the largest IPO in American […]

On Polymarket, there's a market for GDP growth in 2026. There are six mutually exclusive intervals (It states that a value exactly on the border will go to the higher interval.). The odds for these intervals sum to a number much higher than 100%. At time of writing 153%, and it was 180% earlier today. The obvious thing to do is of course to simply buy the "no" on each interval until the probabili…

The rates offering is adding Japanese, Scandinavian, South African and Australian futures.

Sharing my experience as senior software engineer worked with 10 years in Bloomberg, Kraken and integrated most of the exchanges world wide The Financial Information eXchange (FIX) protocol is one of the most widely used communication standards in global financial markets. It powers: Pre-trade communication Trade execution Post-trade workflows Regulatory reporting Order routing Market data dissem…

Abstract Cities have very different sizes and form an urban system that is hierarchical in nature. In this chapter, we study the basic frameworks that aim to explain this urban hierarchy. We study the formation of cities where workers are free to choose where to live and work. Self-organization leads to cities that do not maximize the well-being of its inhabitants. When land developers or local g…