This paper examines the integration and causality of interdependencies among seven major East Asian stock exchanges before, during, and after the 1997-1998 Asian financial crisis. For this purpose, we use daily stock market data from July 1, 1992 to June 30, 2003 in local currency as well as US...

In this paper, we empirically investigate how differences in the development of legal and financial institutions across Chinese provinces and municipalities affect the financing decisions of Chinese listed firms.Our results indicate that a stronger regional enforcement of property rights reduces...