Shadow banking is important in financial systems. Its businesses have increased rapidly in the US. It also contributes to the fast economic growth but it also causes high financial risk in China. This paper reviews the literature in the shadow banking and lists it pros and cons. Then the policy...

In this paper we examine the dynamic and stochastic behavior of the beta coefficient (which will be referred to as the currency beta) of the unbiasedness hypothesis (UH) in foreign exchange markets. We argue that the dynamics and stochastics of currency betas can be attributed to the dynamic...

This study examines empirically how risk management, financial management, and capital management are related to each other in the property/liability insurance industry, thereby reflecting interactions in managerial decisions such as the choice of derivatives and reinsurance use, the allocation...

This article investigates the dynamic and stochastic behaviour of the beta coefficient of the one-factor international capital asset pricing model (ICAPM), and its implications for the pricing of stock markets at the country level and the forecasting of stock returns in global stock markets. We...

We measure cost efficiency of commercial banks in Taiwan using annual data for the 1996–2011 period. Following Caudill et al. (1995), and Caudill and Ford (1993), we develop a generalized dynamic model that accounts for heteroskedasticity in the cost inefficiency component of the error term in...