In this study, we have attempted to seek evidence for weak-form of market efficiency for KSE 100 Index because over the last five years KSE 100 Index has shown substantial growth as compared to other emerging stock markets. Index returns have been studied from 1st January, 1992 to 30th April,...

The paper tests if the documented size effect in the Indian stock market is an anomaly with respect to market efficiency or an artifact with respect to data or methodology employed. The study employs two related datasets (one being held constant through the study period, the other being revised...

The co-existence of the ‘twin' banking and currency crises in emerging market economies has raised concerns regarding the underlying causes and potential remedies. Literatures suggest that there are at least three major approaches that could be used to explain the phenomenon: the microeconomic...

We perform an event study to investigate the efficiency of the Chinese stock market. We study the reaction of stock returns and trading volumes to the 2005-2006 structural reform which allowed the transformation of non-tradable shares (NTS) into tradable shares (TS) through payment of a...

The co-existence of the ‘twin’ banking and currency crises in emerging market economies has raised concerns regarding the underlying causes and potential remedies. Literatures suggest that there are at least three major approaches that could be used to explain the phenomenon: the...

Using a large sample of the Chinese public firms, this study documents that the government intervention via state ownership can mitigate the stock crash risk. The mitigation effect of state ownership is more pronounced in the crisis periods and in the sample of firms with shares held by central...

The chaebol, a South Korean form of business conglomerate, has been a key factor in the country’s economic growth. In this study, the chaebol sector is added to the asset–liability matrix derived from a flow-of-funds analysis in order to explain the role of the chaebol in the Korean...

In this treatise, we provide empirical evidence based on stock and operating performance measures to show how cross-border mergers and acquisitions (M&As) are different from domestic transactions from the perspective of foreign acquirers. We analyze the shareholder wealth effect from 663...

During 2005-2006, the Chinese government implemented a reform aimed at eliminating the so-called non-tradable shares (NTS), shares typically held by the State or by politically connected institutional investors that were issued at the early stage of financial market development. Our analysis,...