Purpose – The purpose of this paper is to focus on the empirical dimension of financial integration among the five newest members of the European Monetary Union (Cyprus, Estonia, Malta, Slovakia and Slovenia) and the euro area. The main objective is to study the level and the speed of...

Purpose – Model the drivers of Australian housing affordability and forecast equilibrium affordability. The paper aims to discuss these issues. Design/methodology/approach – Uses autoregressive distributed lag (ARDL) approach to model housing affordability measured by the Housing Industry...

This study examines the transmission of returns and volatility among eight major art markets. The art indices included in the analysis are Contemporary Masters (CM), 20th Century English (TE), 19th Century European (NE), French Impressionist (FI), Modern European (ME), Modern US Paintings (US),...

This article examines the weak-form market efficiency of the Australian stock market. Daily returns from 6 January 1958 to 12 April 2006 and monthly returns from February 1875 to December 2005 are examined for random walks using serial correlation coefficient and runs tests, augmented...

Purpose – This paper aims to examine the impact of crude oil prices on Australian industry stock returns. With rising energy prices, it is important to consider oil as a pricing factor in asset pricing models. Design/methodology/approach – Multifactor static and dynamic models consider crude...

Despite the global importance of mutuals in financial services, and the universal need to measure and improve organizational efficiency in all deposit-taking institutions, it is only relatively recently that the most advanced econometric and mathematical programming frontier techniques have been...