This paper outlines the main concepts behind short selling activities and explores their relevance to a smaller stock market in the context of Maltese securities. While short sales have desirable properties, especially with respect to pricing efficiency, formal and informal restrictions may...

This paper investigates the diversification prospects which may be reaped when investing in a mixture of emerging and developed market assets. Given that emerging markets are somewhat distinct from developed ones, one may expect significant diversification potential and therefore risk reduction....

Global financial market activity refers to the transactions and financial flows that occur within bond, equity, derivatives, banking, and exchange rate markets around the world. The importance of the globalization of financial markets lies in the fact that the financing process is an integral...

This study discusses the strategic priorities and challenges for securities exchanges in new EU member states, with a special reference to the internationalisation of securities markets. The ways in which exchanges are responding to such challenges and other possible courses of action are...

Researchers often assume that stock market indices are the best possible yardstick in terms of market efficiency. The paper investigates this concept using data from the Malta Stock Exchange (MSE). The fact that a significant number of MSE shares do not trade everyday, may imply that the most...

The serial correlation effects which non-synchronous trading can induce in financial data have been documented by various researchers. In this paper we investigate non-synchronous trading effects in terms of the predictability that may be induced in the values of stock indices. This analysis is...

The paper analyses the impact of the suspension of opening and closing call auctions by the National Stock Exchange of India in 1999. We compare volatility, efficiency and liquidity (VEL) of securities before and after suspension, and estimate the value of the auctions using an event study....

Stock market data tends to display distinct characteristics commonly known as quot;stylized factsquot;. These include non-stationarity of price levels, as well as peak-shaped, fat-tailed and heteroskedastic log returns. This paper presents empirical evidence of these characteristics for emerging...

The paper consolidates the summarised financial statements of the main banks operating in Malta during the year 2002, to form a Typical Large Bank and a Typical Small Bank. The profitability, risk and growth prospects of the two institutions are analysed through Return on Equity decomposition...

This paper focuses on customers' attitudes towards internet banking (IB), with particular reference to generational differences vis-à-vis such service. These factors are important for banks to project how demand is likely to develop over time. After modelling the IB adoption decision across a...