This study illuminates the difference in the intraday return-volume relationships of spot and index futures. The quantile regression analyses show that the widening effect of the spot trading volume on the distribution of spot returns disappears within a short period of time, whereas that of the...

We estimate changes in the productivity of schooling for six East Asian countries. Our productivity measure is based on changes in the relative price of schooling. A rising price of schooling relative to other labor-intensive service sectors should indicate declining relative schooling...

This study examines the impacts of seven types of audit committee expertise (accounting academic, auditing, finance academic, CEO or finance director, other finance, industry and legal expertise) on real earnings management. 1054 firm-year observations are used in the study. The sample firms are...

How are Asian countries preparing children to have skills-including creativity, innovation, and technical capability-to compete in the 21st Century global economy? Countries including China, Korea, Japan and Singapore have begun to integrate education policy and practice into a key component of...

We assessed the impact of stock market development on growth in Hong Kong for the period 1986Q2 to 2015Q4. By constructing a composite index of stock market development and controlling for the key determinants of growth, we found stock market development to promote growth both in the short and...

Hong Kong’s metamorphosis from an entrepot to an industrial economy during the past quarter of a century gives a good example of how a developing country can achieve remarkable growth through international trade.

The dynamics of the real economy is a major driver of the evolution of arrears at the level of the pool of loans granted to non-financial companies, completed by the financial pressure induced by the monetary conditions. Lending allows on the one hand providing resources for companies that need...

This paper examines the effect of interest rates on exchange rate volatilities in Ghana. It utilizes the Quarterly Time Series dataset spanning 2000 Quarter 1 to 2017 Quarter 2 and the Autoregressive Distributed Lag model as well as the Vector Error Correction Model to investigate the long-run...

The phenomenon of zombie firms is gaining the attention of economists across different countries of the world; the increased interest is particularly evident after periods of economic crises. In our study, we focus on the development of zombie firms in the period before and after the 2008 crisis...