Purpose – The purpose of this paper is to describe and critique the swing in international policy from encouraging lower income countries to erect local stock exchanges in the 1990s to discouraging them on efficiency grounds after the US securities markets collapsed in 2001....

Purpose – The purpose of this paper is to empirically investigate the Saturday effect in three emerging stock markets (Bahrain, Kuwait, and Saudi Arabia) by taking into consideration the thin trading that is normal in such capital markets. Design/methodology/approach – The paper applies the...

Purpose – The purpose of this paper is to investigate the stability of the long‐run relationships between emerging (India, China, South Korea, and Taiwan) and developed stock markets (USA and Japan). The study aims at adding to the literature on market integration by investigating the...

Purpose – This paper aims to deconstruct the economic position of Turkey in comparison to its immediate neighbors, Central and South‐Eastern Europe (CSEE), and the Middle East, with a specific emphasis on Japanese Foreign Direct Investment (FDI). Design/methodology/approach – Several...

Purpose – The purpose of this paper is to test the determinants of foreign direct investment (FDI) into countries of the Middle East North Africa (MENA) region. Design/methodology/approach – The research is based on an econometric model that includes factors that potentially drive FDI flows...

Purpose – This paper attempts to investigate the presence of seasonal effects in the Indian stock market. Design/methodology/approach – The paper tests the efficiency of the Indian stock market through a number of hypotheses. Week day effects, day‐of‐the‐week, weekend, January and...

Purpose – This study seeks to measure the behaviour of stock prices in the Bahrain Stock Exchange (BSE), which is expected to follow a random walk. The aim of the study is to measure the weak‐form efficiency. Design/methodology/approach – Random walk models such as unit root and...

Purpose – The purpose of this paper is to empirically explore market integration among five selected Association of Southeast Asian Nations (ASEAN) emerging markets (Malaysia, Thailand, Indonesia, the Philippines and Singapore) during the pre‐ and post‐1997 financial crisis periods....

Purpose – The purpose of this paper is to explore empirically the effects of the current financial crisis on the integration and co‐movements of selected stock markets of the emerging economies, namely Indonesia and Malaysia. Design/methodology/approach – The paper employs the standard...

Purpose – The purpose of this paper is to examine the short‐term and long‐term stock price volatility changes around bonus and rights issue announcements, using historical volatility estimation and time varying volatility approach. Design/methodology/approach – Changes in volatility...