We consider the initial public offering (IPO) returns of penny stocks before and after Penny Stock Reform Act (PSRA) implementation. We extend the work of Bradley et al. (2006) by looking not only at NASDAQ small capitalisation issues, but also those issued on the bulletin boards and pink...

This study investigates the determinants of euro-dollar exchange rate since the inception of euro in January 1999. Initial results show that relative changes in consumer confidence in the USA and the Eurozone (CCI), relative consumer price index (CPI), unemployment rate (UMP), and money supply...

This study investigates pricing efficiency in the yen-dollar currency swap dealer market. Swap mid-rate adjustments are examined to determine how prices adjust to changes in supply and demand. Bid-ask spreads are investigated to find evidence of term premiums. Swap rates are compared to yields...