The paper examines the initial pricing of all Australian government sector initial public offerings (IPOs) that have been made over the last six years. A statistically significant first-day average abnormal return of approximately 8% is found. Contrary to overseas findings, there is no evidence...

The results reported here show that the aggregate figures used in the literature are not adequate to analyse the behaviour of inventories over time. Researchers can obtain more reliable and useful results if they investigate the inventories-sales behaviour at disaggregate level. The disaggregate...

Litzenberger and Ramaswamy's (1979) model is used to test whether expected dividend yield is priced for Hong Kong stocks. Unlike the case in the United States, there are no taxes on dividend income nor on capital gains in Hong Kong. It is found that expected dividend yield has no effect on stock...

The behaviour of 'General Cargo' shipping transport in Spain is analysed.Derived demands for the period 1975-1992 are estimated. Cointegration techniques are used to obtain long-run and short-run equations, both estimated separately in two steps, and jointly in one step. Price and output...

The accuracy of forecasts by OECD for Turkey is examined, for nine macroeconomic variables over the period 1980-1993. Using turning-point diagnostics analysis it is concluded that the OECD should re-examine its potentials in order to improve its forecasting ability.

The determinants of net migration rates including government taxes and welfare spending for 48 contiguous states and the District of Columbia during 1992-93 are examined. The weighted least squares (WLS) method is employed assuming dependent variable heteroscedasticity. Major findings indicate...

Studies of the relationship between market structure and market power continue to account for a large segment of the literature. The traditional structure-conduct-performance approach of analysing this issue has been criticized because of its lack of attention to industry-specific...

Technical change greatly contributes to the explanation of economic structural changes. The aim of this paper is to measure the extension and the direction of structural and technological change. The impact of structural and technological changes on sectoral gross output was computed by breaking...

Measurements of wage discrimination, based on gender, age, race or religion, are important for empirical economists. Traditional approaches to the measurement of wage discrimination do not set up the question of discrimination as a hypothesis that can be statistically tested. Furthermore, they...

Provision of mortuary services free of charge in a government hospital in rural Kenya is found to have led to a black market trade in these services. The principal participants in the market were the mortuary attendants and bereaved families. A method is developed for determining black market...