This study examines the effect of family ownership structure on capital market development in four Association of Southeast Asian Nations (ASEAN) countries, namely, Thailand, Malaysia, Indonesia, and the Philippines using panel data analysis. The results indicate that greater family influence in...

Concentration on banking industry may have long-lasting implication on financial market development. Some argue that concentration in the credit market introduces inefficiencies that would harm a firm's access to credit, thus hindering growth. On the other hand, some recent studies point out...

This article contributes to the debate on stock prices and exchange rates in Malaysia. It examines the causal relations using a new Granger non-causality test proposed by Toda and Yamamoto (1995). The study indicates a feedback interaction between exchange rates and stock prices during the...

This article contributes to the debate on hedge funds and exchange rates in Indonesia. It examines causal relations using a new Granger noncausality procedure proposed by Toda and Yamamoto (1995). It utilizes monthly observations during January 1994 – April 2002. In order to better understand...