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Random‐walk and efficiency tests of Central European equity markets

Gilmore, Claire G.; McManus, Ginette M. - In: Managerial Finance 29 (2003) 4, pp. 42-61

The existence of weak‐form efficiency in the equity markets of the three main Central European transition economies … constitutes evidence for weakform efficiency. This differs in some cases from studies using data for the initial years of these …

Persistent link: https://www.econbiz.de/10014939665

Investigating bank structure of an open petroleum economy: the case of Saudi Arabia

Essayyad, Musa; Madani, Haider - In: Managerial Finance 29 (2003) 11, pp. 73-92

This article investigates concentration, efficiency, and profitability of commercial banks operating in Saudi Arabia … concentration, efficiency, and profitability. The significance of the study stems from the conventional premise that highly …

Persistent link: https://www.econbiz.de/10014939695

Bank branch efficiency evaluation by means of least absolute deviations and DEA

Tsolas, Ioannis E.; Giokas, Dimitris I. - In: Managerial Finance 38 (2012) 8, pp. 768-785

Purpose – The purpose of this paper is to assess the efficiency of individual branches of a large Greek bank through … conceptual (parametric functional form‐loglinear) models: one focusing on transaction and one on production efficiency. The DEA … assessment using the transaction efficiency model is performed under the specifications of constant or variable returns to scale …

Persistent link: https://www.econbiz.de/10014940253

Stock return seasonalities in low‐income African emerging markets

Felix Ayadi, O.; Dufrene, Uric B.; Chatterjee, Amitava - In: Managerial Finance 24 (1998) 3, pp. 22-33

Surveys African stock markets to find out if they are as efficient as developed markets, and follow the same “turn‐of‐the‐year” pattern as other markets. Compares Ghana, Zimbabwe and Nigeria, and focuses on the period between 1985 and 1995. Describes the environment of each, and...

Persistent link: https://www.econbiz.de/10014940320

The Bombay Stock Exchange: seasonalities and investment opportunities

Ignatius, Roger - In: Managerial Finance 24 (1998) 3, pp. 52-61

Investigates whether the Bombay Stock Exchange behaves like an efficient market, or whether it displays a typical seasonal pattern. Takes mean daily returns between 1979 and 1990 to discover by regression that there is a December effect. Considers whether this is because of holidays, broker...

Persistent link: https://www.econbiz.de/10014940322

Price discovery in German stock and futures markets

Paul Broussard, John; Geoffrey Booth, G.; Loistl, Otto - In: Managerial Finance 24 (1998) 4, pp. 3-18

Compares the trading efficiency of electronic and open outcry futures markets. Argues that the difference between the …

Persistent link: https://www.econbiz.de/10014940324

The risk-capital-efficiency trilogy

Louati, Salma; Louhichi, Awatef; Boujelbene, Younes - In: Managerial Finance 42 (2016) 12, pp. 1226-1252

and compare the risk-capital-efficiency interconnection. Design/methodology/approach Based on the triple square model (3 …, simultaneously, a rather shaken stability. Concerning Islamic banks, cost efficiency has proven to have a negative and significant … effect on NPLs. However, the capital, technical efficiency, competitiveness and macroeconomic factors turn out to have a …

Persistent link: https://www.econbiz.de/10014941132

Production efficiency of Chinese banks: a revisit

Tina Zhang, Xiaotian; Wang, Yong - In: Managerial Finance 40 (2014) 10, pp. 969-986

’ ownership and operation had been significantly changed in order to improve efficiency. The purpose of this paper is to … investigates whether these banks have improved their productivity efficiency during their rapid expansion and growth in the post … efficiency of Chinese commercial banks during 2004-2011. First, the technical efficiency (TE) score is constructed to evaluate …

Persistent link: https://www.econbiz.de/10014941406

Mutual fund efficiency and tradeoffs in the production of risk and return

Devaney, Michael; Morillon, Thibaut; Weber, William - In: Managerial Finance 42 (2016) 3, pp. 225-243

Purpose – The purpose of this paper is to estimate the performance of 188 mutual funds relative to the risk/return frontier accounting for the transaction costs of producing a portfolio of investments. Design/methodology/approach – The directional output distance function is used to estimate...

Persistent link: https://www.econbiz.de/10014941413

Enterprise resource planning and efficiency

Park, Jonghyun; Park, Jin - In: Managerial Finance 41 (2015) 4, pp. 405-415

Purpose – The purpose of this paper is to investigate the efficiency of Korean insurers that have adopted enterprise … resource planning (ERP) system to improve their efficiency. Design/methodology/approach – The study uses Data Envelopment … Analysis (DEA) with several inputs and outputs to measure both technical and scale efficiency. With the efficiency measures and …

Persistent link: https://www.econbiz.de/10014941574