The stock market globalization process has produced historic changes in the structure of stock markets, the effects of which are evident throughout the world. Despite these transformations, there are relatively few sources examining the connections between the globalization process currently...

By working directly with the profit functions for both arbitrage and speculative trades, this paper develops two distinct notions of market efficiency. These notions provide the basis for evaluating the performance of the when-issued market for Canadian government treasury bills. Despite the...

The role of uncertainty in investment decisions is a central concern of Post Keynesian economics. Despite substantive criticisms of security investment strategies that rely on notions from probability theory, Post Keynesians have not provided a detailed model of an investment strategy that would...

This paper presents empirical evidence from a sample of publicly traded Singaporean firms on the question: to what extent do firms manage earnings through the timing of asset sales? Previous studies have focused on accounting motives behind asset sales, ignoring the need to also consider...