This study offers some preliminary results about stock valuation in the emerging market of the United Arab Emirates. It examines the determinants of three valuation multiples in the period from 1996-2001, the price sales (PS), the price book value (PBV) and the price earnings (PE). Consistent...

The results of Lamoureux and Lastrapes (Journal of Finance, 45, 221-29, 1990) are extended to the UK stock market, and the study examines, in particular, their finding that GARCH modelling captures the serial dependence in volume of trade. Using data on 50 UK companies, we find that although the...

We examine the issue of maximal moments of four exchange rates of US, Japan, Germany and France measured relative to the British Pound. It is found that the second moment of exchange rate returns is finite, and therefore, the infinite variance stable distribution is ruled out as a candidate for...

We examine the issue of moments existence in the UK stock market. It is found that the second moment of stock returns is finite, and therefore, the infinite variance stable distribution is ruled out as a candidate for modelling stock returns. In contrast with the US evidence, we cannot rule out...

The BDS test is used to investigate whether stock returns for five companies and the FTALL index exhibit nonlinear dependence. It is found that conditional heteroscedasticity account for most of the nonlinearity of stock returns in the UK.