The market for insuring insect damage is far from complete. This study introduces a new type of derivative instrument‐insect derivatives‐that provide growers a market‐based means of transferring insect risk to speculators or others who may profit from higher insect populations. A...

There is increasing evidence of the inadequacy of ‘rational’ explanations of asset pricing. It has been established empirically that mood, induced by such natural phenomena as lunar phases or sunshine, affects asset prices. This paper provides evidence from one‐day cricket international...

The nature of reported financial performance and financial disclosure is undergoing a dramatic change. The author argues that the issue of accounting for financial instruments and its emphasis on fair values goes to the heart of the problem. He argues that the thoughts provided by the AIMR...

The author, a technical officer at the Association of Corporate Treasurers, describes the growth in the power of the rating agencies and explains the background and content of the new code which has been proposed to cover their activities in both the UK and the US.

Scrutinizes Russia’s capital markets and the state of the economy. Recounts the establishment of the US‐Russian Capital Markets Forum in 1996 and the reforms they recommended making. Looks also at banking, equities, trading equities, mutual funds, tapping foreign capital markets, government...

Purpose – The purpose of this paper is to elaborate and elucidate the experience of Malaysia in developing the Islamic financial system by explaining the different developments and methods that has been deployed since its inception in 1963 until now and how best these experience can be used in...

Purpose – This paper aims to present to capital market regulators (particularly in Turkey) with options for regulating the quickly expanding area of socially responsible investment (SRI). Design/methodology/approach – The paper takes a public economics perspective, focusing on the social...

Aimed at senior corporate real estate decision makers and members of the corporate finance teams responsible for real estate portfolio strategy, this paper helps these professionals to identify opportunities for different types of lease finance. Readers will go through a brief history of the...

This paper looks at three routes to maximising the value of a corporate real estate (CRE) portfolio in the UK, although they apply also in other countries: ‐ Know what space you have and ensure its efficient use. Benchmarking is a useful discipline by which to monitor progress. ‐ Know your...

The purpose of this study is to assess the operational efficiency of Arab stock markets during the past decade in order to anticipate their ability to compete in the future. The study provides estimates of the operational efficiency of Arab capital markets by analyzing how well they use all the...