Purpose – The purpose of this paper is to contribute to the literature on the valuation of initial public offerings (IPOs). In particular, it tests the presence of over‐optimism when pricing IPOs on the Italian Nuovo Mercato. Design/methodology/approach – The paper investigates whether the...

Purpose – The purpose of this research is to examine the linkages between oil prices and stock market in Gulf Cooperation Council (GCC) countries. Prior work argues that oil prices and the GCC stock markets are not related. This conclusion could be due to the fact that only linear linkages...

Purpose – The purpose of this article is to examine is to the link between stock markets and economic growth in advanced and emerging economies in the Middle East and North Africa (mena) region. Design/methodology/approach – Indices measuring the degree of financial openness and market...

Purpose – The purpose of this study is to investigate the role of stock markets in economic growth and to shed some light on the macroeconomic determinants which must have an important influence on stock markets development. Design/methodology/approach – The empirical study is conducted...

Purpose – The purpose of this paper is to explore dynamics of stock price movements of an emerging market, Bangladesh with that of USA, Japan and India. Design/methodology/approach – The long‐term relationships among the markets are analyzed using the Johansen and Juselius multivariate...

Purpose – The purpose of this paper is to investigate the relationship between the Chinese stock market indices and a set of macro‐economic variables, i.e. money supply, industrial production, inflation, exchange rate and interest rates. Design/methodology/approach – The aims of this paper...

Purpose – The purpose of this paper is to investigate the size effect of market reaction to unexpected earnings based on whispers or unofficial individual earnings forecasts. Design/methodology/approach – Using both univariate and multiple regression analysis, this paper attempts to...

Purpose – The purpose of this paper is to propose an empirical procedure for examining the time‐varying features of cross‐market correlations in selected Gulf stock markets. Design/methodology/approach – The paper directly infers the cross‐market linkages from the stock data using a...

Purpose – This study aims to examine the market returns of the Ukrainian stock and bond markets to determine whether they exhibit calendar anomalies including the January effect, weekend effect, and turn‐of‐the‐month (TOM) effect. Ukraine provides an opportunity to examine the efficiency...

Purpose – Whether stock returns are linked to exchange rate changes and whether foreign exchange risk is priced in a domestic context are less conclusive and thus still subject to a great debate. The purpose of this paper is to provide new empirical evidence on these two inter‐related...