The study analyses the applicability of the efficient market hypothesis to the foreign exchange market by testing the profitability of the filter rule on the spot market. The significance of the returns was validated by comparing them to the returns from randomly generated shuffled series via...

This paper extends the work of prior search in studying the incremental information captured by the DuPont components, changes in asset turnover (∆ATO) and changes in operating profit margin (∆PM), in forecasting the changes in return on net operating assets (∆RNOA) one year ahead. This...

This paper examines the determinants of bank net interest margin (NIM) and non-traditional banking activities (NII). A system estimation approach is employed to control for the simultaneity between NIM and NII for commercial banks in a group of 28 financially liberalized countries during the...