This paper empirically tests the existence and direction of causality between stock market index (KSE) and exchange rates in the post-floating exchange rate regime and vibrant stock market performance of Pakistan. The data period ranges from January 1998 to December 2009. Results of...

This paper empirically examines the hypothesis that diffusion of information is not uniform across all sectors of a market. Large industries or industries where trading volume is substantially larger attract attention of a large number of investors who in turn make these industries...

The slow diffusion of information hypothesis has emerged as a more convincing explanation for lead-lag patterns in assets returns compared to traditional explanations such as non-synchronous or thin trading, liquidity factor, or size factor, etc. We provide further support to slow diffusion of...

We examine the empirical determinants of debt-maturity structure of 266 firms listed on the KSE over the period 2000 to 2004 using several variants of dynamic panel data models. We find mixed support for the agency cost hypothesis as our results show that debt-maturity increases with the size of...