Purpose – The purpose of this paper is to investigate whether the Australian equity market is informationally efficient in the semi‐strong form with regard to interest rates and the exchange rate shocks during the period 1994‐2006. Design/methodology/approach – There is evidence that the...

Purpose – The purpose of this research is to consider whether market wide herding occurs intraday. Design/methodology/approach – Using the 1995 Christie and Huang and the 2000 Chang et al. models, the paper tests whether market wide and industry sector herding occurs intraday in the...

Purpose – This is the first REIT paper to seek to empirically examine potential influencing factors on the discounts and underwriting fees of Australian REIT rights issues. Design/methodology/approach – Using a methodology similar to Owen and Suchard, and Armitage, a sample of 62 A‐REIT...

Purpose – This paper aims to study to what extent an insurance based on a house price index provides equity protection for homeowners. Design/methodology/approach – The paper uses a novel dataset of all housing market transactions in the metropolitan area of Melbourne 1990‐2006, to...

Purpose – The purpose of this paper is to investigate the profitability of momentum investment strategy and the predictive power of trading volume for equities listed in the Australian Stock Exchange. Design/methodology/approach – Following the Lee and Swaminathan's approach, portfolios on...

Purpose – The purpose of this paper is to illustrate a business process modelling approach based on: the incorporation of the best practices in the industry; higher reliability standards for operation; real‐time settlement; improved security; and transparency in the process and information...

This article examines the future of e‐money as a payment instrument and some of the microeconomic policy issues it will raise. The paper is in two parts. This first part focuses on the various forms which electronic money is likely to take in the future, and considers key technological and...

US money and capital markets have changed dramatically over the past 25 years. Despite the change and uncertainty, lending activities of branches and agencies continued to expand in US markets through the early 1990s. The focus of lending by agencies and branches of foreign banks has been...

Purpose – The Indian commodity market requires large investments and enhanced trading activity both in the national as well as the regional commodity markets. The participation of non‐professional people trading commodity markets makes the market a risky venture. Non‐professional...