The most recent global financial crisis, characterized as a liquidity crunch, began in the U.S. in late 2007 and quickly spread to other countries. The rapid propagation of the liquidity shock and the severe effects of the crisis on stock market performance have raised several important...

Depositary institutions over the last 15 years have increased the share of non-traditional revenue in total income. While the change in business models is a global phenomenon, it is more pronounced in countries such as the U.S., France and the U.K. In this study, we examine whether market...

The sovereign debt crisis in Europe and the withdrawal of funds from the Asian markets (similar to capital outflows from Asia after the collapse of the Lehman Brothers) have highlighted the importance of more resilient regional and national financial systems in Asia. Regional architectures such...

Following previous research which established that liquidity commonality exists within one stock market over a short period of time, this paper finds that liquidity commonality also exists globally. Utilising a large number of stock exchanges and a twelve year research time frame, this paper...