Telecommunications industrial models are discussed in this paper as a background for the analysis of the stock market efficiency and performance of telecommunications industry in the Gulf Cooperating Countries (GCC). The issue is whether industrial efficiency drives market efficiency or vice...

Gulf Cooperating Countries (GCC) are in the process of strengthening and expanding financial markets in relation to listing, regulatory, trading and settlement procedures. Along with the opening up of markets to international investment, innovations that should enhance overseas investor interest...

Historically, the stock and securities markets in the Gulf Cooperating Countries (GCC) have been limited in their capacity to raise international capital. Apart from the fact that many are simply not open to outside investment, they have been regarded as thinly traded, less liquid and less...

The rhetoric of the Organisation of Petroleum Exporting Countries (OPEC) member spokespersons at their meetings and through the press seems directed towards some form of economic rationalisation of production behaviour of member countries. Though the body of evidence from macroeconomists, in...

In their present early stages of development, GCC component stock markets are characterised by outstanding returns performance. However, issues relating to foreign investment openness, industry governance and transparency have contributed to thin trading and lack of liquidity particularly in the...

Banks in Australia, as agents of the Central Bank, are key players in the implementation of exchange rate and monetary policies. The purpose of this study is to examine dynamic interactions among, and the long-term equilibrium relationships between, bank stock returns and the key macroeconomic...

There is no suggestion in the title of this paper that the Bank for International Settlements or any other international body starts formally regulating entire country-banking systems. However, the idea behind this paper is that by benchmarking economic and regulatory capital for international...

Whilst most agree that banks need regulation this paper questions the complexity of current regulatory capital guidelines and suggests that banks may be overegulated. A new approach to regulation is put forward after and analysis of important literature in this area. The idea of calulating a...

Using a simultaneous equation model initially developed by Shrieves and Dahl (1992) this paper shows that Japanese banks have focused on factors other than those that impact on bank safety levels. This has left Japanese banks in a vulnerable position with respect to levels of non-performing...

The over-reaction hypothesis suggests that if investors over-react then a contrarian strategy of buying losers and selling winners, should earn significant abnormal returns. In an Australian study from 1980 to 1997 it is found that there is an inverse relationship between size and observed...