Purpose – The purpose of this paper is to investigate the July 2007 introduction of a pre-close call auction on the New Zealand stock market and its effect on share pricing quality and market manipulation. Design/methodology/approach – Market quality was tested using the methodology of...

We analyze the resiliency of a pure limit order market for large and small capitalization stocks as well as stocks with different tick sizes.We explore the issue of resiliency by investigating the order flow around aggressive orders that move prices.The impact of aggressive orders is gauged in...

The cross-sectional share price variation in eight East Asian markets before, during and after the 1997 Asian financial crisis is examined. The paper also studies whether firms in these markets correct their share prices to the optimal trading range using stock splits. The results vary across...

The cross-sectional share price variation in eight East Asian markets before, during and after the 1997 Asian financial crisis is examined. The paper also studies whether firms in these markets correct their share prices to the optimal trading range using stock splits. The results vary across...

This research raises a complex of questions about the relationship between the West and its former colonies. Many ex-colonised countries are now emerging as developing or developed economies, yet they are still using the Western accounting systems. We know from the African history that these...