Purpose – US studies show significant price effects when shares enter or leave an index during index revisions. Studies on other markets generally yield similar results with smaller price reactions. This study aims to examine the price effects resulting from revisions to the Australian S&P/ASX...

This study examines the share price reaction that occurs when shares are added to or deleted from the NZSE 10 and NZSE 40. It used event study methodology to analyse changes to the indices during the period between January 1991 and February 2000. Previous studies in other markets have shown...

Purpose – The purpose of this paper is to investigate the July 2007 introduction of a pre-close call auction on the New Zealand stock market and its effect on share pricing quality and market manipulation. Design/methodology/approach – Market quality was tested using the methodology of...

The importance of new ventures in the economic process is well established and many governments embark on programs designed to stimulate new businesses start-ups in the belief that increasing the number of new businesses will have a positive impact. Much effort is expended in trying to reduce...

It is widely accepted that neoclassical economics has largely neglected the role of entrepreneurial activity and the process of new firm formation. Similar shortcomings are not found in evolutionary economics, which views economic activity in ways closely resembling the observed reality of the...