This paper presents a comprehensive analysis of reorganization provisions available to financially distressed firms in three major economies – the U.S. the U.K., and Japan. The paper addresses a central question of the relative effectiveness of the various bankruptcy laws in resolving...

The purpose of this paper is threefold: (1) to examine the operational efficiency of U.S. airlines after the deregulation of 1978; (2) to investigate whether operational efficiency is associated with changes in financial position of firms in the industry and (3) to study if there is an observable...

In this paper, we examine the efficiency of the transmission of information across the stock markets of Bulgaria, the Czech Republic, Hungary, Poland, Romania, and Slovakia, as well as the relative importance and influence of advanced equity markets of Germany and France on the abovementioned...

This paper employs linear and nonlinear Granger causality tests to re-examine the dynamic relation between daily Eurodollar and U.S. certificates of deposit rates during the July 16, 1973 to May 1, 2006 period. This study also conducts sub-period analysis based on the switching regression...

This paper employs linear and nonlinear Granger causality tests to re-examine the dynamic relation between daily Eurodollar and U.S. certificates of deposit rates during the July 16, 1973 to May 1, 2006 period. This study also conducts sub-period analysis based on the switching regression...

Based on its outward-oriented development strategy, respectable growth, increased integration into world trade and financial markets, and imperfect though vibrant and wide-based democracy, Turkey is often cited as a development model for other countries in the region and elsewhere. Countering...

Based on its outward-oriented development strategy, respectable growth, increased integration into world trade and financial markets, and imperfect though vibrant and wide-based democracy, Turkey is often cited as a development model for other countries in the region and elsewhere. Countering...

This study investigates daily stock market anomalies in the Egyptian stock market using its major stock index, the Capital Market Authority Index (CMA), to shed some light on the degree of market efficiency in an emerging capital market with a four-day trading week. The results indicate that...

The 2009 conviction and sentencing of American investment adviser Bernard Madoff to 150 years in prison for 11 federal crimes involving a $65 billion Ponzi scheme has increased public, investor, and financial industry awareness of this type of investment and securities fraud. The literature for...

A non-parametric approach is used to examine the effects of globalization and deregulation on the efficiency and productivity growth of small and large banks in the U.S. between 1990 and 2003. Using a representative sample of commercial banks, the study finds empirical evidence that both small...