In this paper, we carry out an empirical study for the Tunisian market to shed light on the question whether the observed shift into non-interest income activities improves performance of commercial banks. Our main results can be summarised in three statements: banks diversified across both...

The aim of this paper is to investigate the stock returns predictability in a multi-variate context. Johansen’s multivariate cointegration analysis is applied to weekly data on the Korea, Hong Kong, Taiwan, Indonesia and Singapore indices in 1997-2008. The results indicate that markets are...

This paper analyzes the effect of international financial integration on the equity risk premium using a panel dataset of sixty emerging and developing countries over the period 2000-2010. We also use equity risk premium determinants as independent vari-ables in the model. The results show that...

This paper examines the relative and incremental information content of economic value added (EVA) and traditional performance measures, focusing on the Tunisian banking industry. Our sample comprises only publicly listed commercial banks, and comprises ten banks over a period of ten years...