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 – 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 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 – 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...

Innovations – the unanticipated component – of the Canadian market‐determined bank rate announcements have an immediate impact on the bilateral Canadian/US dollar spot exchange rate, with the sign of the impact depending on market perceptions of the monetary policy regime in which the...

Uses recently developed techniques in the estimation of non‐stationary time series to construct money demand functions for four African economies, using quarterly data. Finds that money demand depends not only on income, inflation and interest rates, but also on variability of inflation and...

Purpose – This paper seeks to examine the operation of an Islamic inter‐bank money market (IIMM), within a dual banking system. Design/methodology/approach – The paper describes Malaysia's Islamic IIMM. It then examines some of the key risks associated with money market functions. An...

Purpose – The purpose of this paper is to analyze the information content of the Islamic interbank money market rate (IIMMR), with respect to several macroeconomic indicators such as output, inflation, exports, imports, bank loans and stock market index, and compare it against that of the...