In this article we propose a multidimensional framework for comparative performance evaluation. The framework, CCPR, is elaborated and illustrated through a real-life case. The approach is that it takes account of and corrects for the influence of risks, which are beyond the control of the...

We study the relation between foreign exchange market quality and both trading activity and dealer concentration by considering two currency pairs with significant differences along both dimensions – the Euro-US dollar and Canadian dollar-US dollar. A variance ratio test reveals over-reaction...

This paper considers financial, operational, solvency, and performance ratios, in order to detect when there were balance sheets' variations related to the 1994 Mexican currency crisis. Quarterly results for 88 non-financial Mexican companies that survived the crisis are used, and tests for...

The term financial contagion often refers to contagion between countries. However, firms also manifest contagion during financial crises, which can be determined according to operational and financial results. This research studies how 88 private, non-financial Mexican firms got contagion and...

We present an analysis of the performance of the Spanish Stock Market over the last six years, examining the most widely used index, i.e. the IBEX 35. Our analysis is broader than conventional benchmark approaches because we study the properties of all feasible portfolios, i.e. portfolios...