This study investigates daily stock market anomalies in the Egyptian stock market using its major stock index, the Capital Market Authority Index (CMA), to shed some light on the degree of market efficiency in an emerging capital market with a four-day trading week. The results indicate that...

The 2009 conviction and sentencing of American investment adviser Bernard Madoff to 150 years in prison for 11 federal crimes involving a $65 billion Ponzi scheme has increased public, investor, and financial industry awareness of this type of investment and securities fraud. The literature for...

A non-parametric approach is used to examine the effects of globalization and deregulation on the efficiency and productivity growth of small and large banks in the U.S. between 1990 and 2003. Using a representative sample of commercial banks, the study finds empirical evidence that both small...

Based on its outward-oriented development strategy, respectable growth, increased integration into world trade and financial markets, and imperfect though vibrant and wide-based democracy, Turkey is often cited as a development model for other countries in the region and elsewhere. Countering...

We use daily stock returns from the NASDAQ composite index and its eight composite indexes to investigate the reaction of investors to the arrival of unexpected information in framework of Efficient Market Hypothesis (EMH), the Overreaction Hypothesis (OH), and the Uncertain Information...