Showing 1 - 10 of 25
This article investigates the impact on the spot market of trading in KOSPI 200 futures. Empirical results show that futures trading increases the speed at which information is impounded into spot market prices, reduces the persistence of information and increases spot market volatility. The...
Persistent link: https://www.econbiz.de/10005485114
In a recent paper Dollar and Kraay come to sweeping conclusions about economic growth and the poor. On the basis of empirical work they assert that standard World Bank and IMF policy packages are good for the poor. This paper demonstrates that (i) the empirical work is based on theoretically...
Persistent link: https://www.econbiz.de/10005443086
This paper classifies formal stock markets in the Middle East into two categories and discuses the principal characteristics of the five markets covered in this study, those in Israel, Jordan, Kuwait, Lebanon and Oman. The hypothesis that a stock market price index follows a random walk is...
Persistent link: https://www.econbiz.de/10005452310
Persistent link: https://www.econbiz.de/10005454213
The environment has become an increasingly prominent consideration across the third sector in the UK. However, while there has been an ‘audit explosion’ in relation to demonstrating the social mission of third sector organisations (TSOs), this has not transferred to the management of...
Persistent link: https://www.econbiz.de/10011132433
In a recent paper Dollar and Kraay come to sweeping conclusions about economic growth and the poor. On the basis of the empirical work they assert that standard World Bank and IMF policy packages are good for the poor. This critique demonstrates that (i) the empirical work is based on...
Persistent link: https://www.econbiz.de/10011142316
The martingale hypothesis is tested for 15 European emerging stock markets located in Croatia, the Czech Republic, Estonia, Hungary, Iceland, Latvia, Lithuania, Malta, Poland, Romania, Russia, the Slovak Republic, Slovenia, Turkey and the Ukraine. For comparative purposes, the developed stock...
Persistent link: https://www.econbiz.de/10010972056
The weak form of the efficient markets hypothesis is tested for eight African stock markets using three finite-sample variance ratio tests. A rolling window captures short-horizon predictability, tracks changes in predictability and is used to rank markets by relative predictability. These stock...
Persistent link: https://www.econbiz.de/10010948703
Persistent link: https://www.econbiz.de/10005315319
This paper classifies formal African stock markets into four categories and discuses the principal characteristics of the seven markets covered in this study: South Africa, Egypt, Morocco, Nigeria, Zimbabwe, Mauritius and Kenya. Using a GARCH approach with time-varying parameters, a test of...
Persistent link: https://www.econbiz.de/10005142611