Purpose – The purpose of this paper is to examine the lead‐lag relationships between the National Stock Exchange (NSE) Nifty stock market index (in India) and its related futures and options contracts, and also the interrelation between the derivatives markets. Design/methodology/approach...

Purpose – This paper aims to entertain while reminding readers of the immense variability to be expected with respect to even the most highly recommended of investment strategies. Design/methodology/approach – Opinion column. Findings – This column lays out the historical record of the Dow...

Purpose – Natural disasters may inflict significant damage upon international financial markets. The purpose of this study is to investigate if any contagion effect occurred in the immediate aftermath of the Japanese earthquake, tsunami and subsequent nuclear crisis....

Purpose – This paper aims to investigate whether stock markets can reduce the output costs of banking crises. The work is motivated by Alan Greenspan’s claim that capital markets serve as a financial “spare tire” in the event of a banking crisis. Design/methodology/approach – We test...

Purpose – Enterprise application integration (EAI) technologies are critical to functionally integrate diverse corporate computer systems, and as such may be expected to have a positive effect on business value. The purpose of this paper is to examine the market reaction to announcements of...

Purpose – The purpose of this paper is to examine financial integration across North American stock markets from January 1984 to December 2003. Design/methodology/approach – The paper uses an arbitrage pricing theory framework. The risk factors considered are the three Fama and French...

Purpose – The main purpose of this paper is to examine the impact of globalization on the synchronization of international financial markets. Monthly data from January 1990 to July 2005 for ten major stock markets, namely, Australia, Canada, France, Germany, Hong Kong, Japan, Singapore, the...