Showing 1 - 6 of 6
This paper investigates auditor choice in Greece in the five years subsequent to the 1992 liberalization of the audit market. We analyze auditor choices by 205 companies which, by 1997, represented almost 90% of the companies listed on the Athens Stock Exchange. We find that the level of...
Persistent link: https://www.econbiz.de/10012742935
This study investigates the existence of private information in the spot foreign exchange market by examining the impact of macroeconomic announcements on banks' currency pricing behavior. Using 5 years of indicative GBP/USD data and 11 U.S. macroeconomic announcements, we find that the price...
Persistent link: https://www.econbiz.de/10012727460
Using a comprehensive database covering 50 industry groups and 34 countries over the period 1992 to 2001 this paper examines the roles of the country and industry effects in international equity returns. It focuses on their evolution and on geographical differences. Although the country effects...
Persistent link: https://www.econbiz.de/10012731719
The paper compares the dynamics of global, country and industry effects in firm level returns between emerging and mature markets. Based on 1,893 firms in MSCI global index from 1990 to 2002 from 37 countries our results show that the global and industry effects are still dominated by the...
Persistent link: https://www.econbiz.de/10012733513
The paper develops an international capital asset pricing model, which includes foreign currency risk, and examines the impact of capital market liberalisation on the pricing of risks. It applies the model to data from Pacific Basin financial markets and finds substantial evidence that not only...
Persistent link: https://www.econbiz.de/10012738104
This paper examines stock market linkages of a group of Pacific-Basin countries with U.S. and Japan by estimating the multivariate cointegration model in both the autoregressive and moving average forms over the period 1980-1998. Recursive estimation helps identify the evolution of the linkages....
Persistent link: https://www.econbiz.de/10012738116