Background: In the past couple of years, China's futures exchanges have launched nighttime trading sessions. Methods: We use daily data from 23 commodity futures to investigate the impact of this important policy change. Results: Our findings suggest that the launching of nighttime trading...

Using four-year data (1990, 1994, 1998, and 2002), we have provided a ranking of schools with international business (IB) orientation based on the membership on editorial boards of 30 leading international business journals. Participation on editorial boards of quality journals is highly...

Background: In the past couple of years, China's futures exchanges have launched nighttime trading sessions. Methods: We use daily data from 23 commodity futures to investigate the impact of this important policy change. Results: Our findings suggest that the launching of nighttime trading...

China, the second largest economy in the world after the US, has started the process to internationalize its currency, the renminbi (RMB), to become a global reserve currency. To this end, the offshore market for RMB-denominated bonds (dim sum bond) market in Hong Kong has been established to...

This paper discusses the role of Hong Kong in China's grand scheme to build up the RMB as a global reserve currency. We highlight the economic importance of Hong Kong to China in terms of channeling foreign direct investment into China, some of which, in the future, will be denominated in the...

Using daily data of four currencies (Japanese yen, euro, British pound, and Australian dollar) in terms of the U.S. dollar, and these four currencies in terms of the euro from January 2004 to February 2008, we examine the lead-lag relationship between the credit default swap (CDS) market and the...

This paper explores the imbalance between China's real estate market, which is booming, and the stock market, which has plunged over four years. Our empirical analysis shows that the two markets are systematically negatively related due to fund flows. The plummeting stock indexes are partly...

The Merton-type structural model, when extended to sovereign issuers, suggests a negative relationship between sovereign credit default swap (CDS) spreads and stock prices. Capital structure arbitrage strategy that exploits such relationships should foster the integration of CDS and the stock...

The globalization of financial markets has led to an integrated world market. Emerging economies such as China and India have opened up their markets to foreign investors. New instruments such as exchange-traded funds are being created, and current instruments are being expanded to include real...

This study uses reported exports and imports figures of China-Hong Kong and China-Thailand trade to examine the relations among trade, foreign direct investment flows, and tax-induced market impediments. The empirical results, largely consistent with theoretical models, support several...