Circuit breaker, an automated regulatory instrument employed to deter panic, temper
volatility, and prevent crashes, is controversial in financial markets. Proponents claim it …

In recent years, organized stock exchanges with daily price limits adopted wider limits as
narrower limits were criticized for jeopardizing market efficiency. This study examines the …

This paper investigates the lead‐lag relationship in daily returns and volatilities between
price movements of the FTSE/ATHEX‐20 and FTSE/ATHEX Mid‐40 stock index futures and …

By using information about the ownership structure of listed companies from 2004 to 2016,
we construct the cross-shareholding network for each year and examine the effects of the …

After the stock market crash of October 1987, the Brady Report (1988) and several academic
researchers suggested the imposition of “circuit breakers” to prevent the market from …

Numerous stock market regulators around the world impose daily price limits on individual
stock price movements. We derive a simple model that shows that price limits may deter …

Market efficiency tests in developing markets display mixed evidence, in contrast to
evidence on developed markets where the null hypothesis seems to be supported …

We study China's experience with price limits by comparing a period with price limits to a
period without price limits. Although many prior studies document costs of price limits, we …

This chapter surveys security‐specific mechanisms implemented in financial markets to
protect investors from unusually high volatility levels. These so‐called circuit breakers alter …

Purpose–The paper aims to investigate the monthly and trading month effects in the stock
market returns of the ASE using daily data before and after the crisis of 1999‐2001. In …