This paper investigates the link between commodity price volatility and stock market indices in Nigeria, Ghana, and Côte d’Ivoire, focusing on commodities such as oil, cocoa, and gold over a daily period from 2 January 2020 to 31 December 2021. In order to conduct this study, the BEKK-GARCH process is applied to test the volatility transmission across commodity and stock markets, while focusing on the asymmetry in the conditional variances of these markets. The analysis reveals a 30% increase in volatility spillovers during the COVID-19 period, highlighting significant asymmetry in conditional variances between African stock markets and global commodity markets. Furthermore, the findings demonstrate that conditional variances in stock and commodity markets are asymmetrical. This study advances the literature on volatility transmission by providing novel evidence on asymmetric spillovers between African stock markets and global commodity prices, particularly during COVID-19. It offers insights into the unique role of emerging African markets in global financial interconnectedness.

This paper investigates the link between commodity price volatility and stock market indices in Nigeria, Ghana, and Côte d'Ivoire, focusing on commodities such as oil, cocoa, and gold over a daily period spanning January 2, 2020, to December 31, 2021. In order to conduct this study, the BEKK-GARCH process developed by Kroner and Ng (1998) is applied to test the volatility transmission across commodity and stock markets, while focusing on the asymmetry in the conditional variances of these markets. The analysis reveals a 30% increase in volatility spillovers during the COVID-19 period, highlighting significant asymmetry in conditional variances between African stock markets and global commodity markets. Furthermore, the findings demonstrate that conditional variances in stock and commodity markets are asymmetrical. This study advances the literature on volatility transmission by providing novel evidence on asymmetric spillovers between African stock markets and global commodity prices, particularly during COVID-19. It offers insights into the unique role of emerging African markets in global financial interconnectedness.

This research focuses on examining how the recent Saudi Corporate Governance Code (SCGC) and internal governance structures within companies affect the performance of industrial firms listed on the Saudi Stock Exchange. The authors studied 62 industrial firms from 2012 to 2020. They analyzed data using two models to test their hypotheses, looking at firm performance through two financial indicators: return on assets (ROA) for the first model and return on equity (ROE) for the second. Both models considered the same factors: SCGC, the size and independence of the board, the size and independence of the audit committee, how often the audit committee meets, and how concentrated the ownership is. The results indicated that applying the SCGC leads to better company performance based on ROA. However, there was no noticeable impact on performance from the board or audit committee size. Likewise, having more audit committee meetings did not improve performance. On the other hand, the independence of the board and audit committee, along with ownership concentration, did have a positive effect on performance. This study adds to the discussion on the economic impacts of the SCGC in the Saudi market, offering valuable insights for companies, investors, and policymakers like the Capital Market Authority (CMA) and the Saudi Organization for Chartered and Professional Accountants (SOCPA). These insights could guide adjustments to the SCGC that better suit the unique aspects of the Saudi market.

This paper examines the impact of unconventional monetary policies, such as quantitative easing, on the U.S. unemployment rate during the financial crises and the Covid-19 pandemic. Most studies focus on the factors and monetary policies affecting unemployment during financial crises. Nevertheless, these policies may vary during health and social crises. In order to conduct our study, we used the ARDL (Autoregressive Distributed Lag) model, covering two distinct periods: from January 2007 to December 2018 for the first and from January 2019 to December 2022 for the second. The ARDL model is best suited for this study since it allows testing cointegration and estimating short- and long-term relationships when the series are not integrated of the same order. The study reveals that, during the Covid-19 period, the unemployment rate increases in the short and long term due to expansionary monetary policy. However, during financial crises, quantitative easing leads to a decrease in the unemployment rate over the same time horizons. The findings provide valuable insights into the effects of unconventional monetary policies and their influence on labour market reforms depending on the nature of the crisis.