This paper studies the volatility implications of the introduction of derivatives on stock market volatility in India using the S&P CNX Nifty Index as a benchmark. To account for non-constant error variance in the return series, a GARCH model is fitted by incorporating futures and options dummy...

This study provides new evidence on the risk and return performance of the Kuala Lumpur Syariah Index (KLSI) and the Kuala Lumpur Composite Index (KLCI). An Islamic stock market index such as KLSI selects stocks according to Islamic laws, and thus has a more stringent screening process than its...

In 2001, Malaysia undertook important corporate governance reforms, which saw the integration of the Malaysian Code on Corporate Governance (MCCG) into Kuala Lumpur Stock Exchange (KLSE) Listing Rules and the establishment of the Minority Shareholder Watchdog Group (MSWG), which aims to enhance...

The present paper seeks to examine the determinants of Philippines banks profitability during the period 1990–2005. The empirical findings suggest that all the bank-specific determinant variables have a statistically significantly impact on bank profitability. The empirical findings...

In this paper, we investigate the relationship between a fund manager's characteristics and performance, focusing on the interrelationships among fund managers' tenure, seniority and performance in the Taiwan open-end equity mutual fund market. To our knowledge, this is the first study to look...

Using a rolling regression approach with varying independent variables, this paper investigates macroeconomic structural changes in the four main stock markets in China and identifies the threshold values of structural changes. Macroeconomic structural changes frequently occur on the Shanghai...

This paper compares the effectiveness of monetary policy between civil-law and common-law countries by using the impulse response of monetary policy on the level of investment and consumption. This comparison is made to determine whether countries of common-law origin are less sensitive to...

Prior studies show that Economic Value Added (EVA®) contributes little information content beyond earnings in explaining individual stock returns. Such findings might be attributed to the idiosyncratic measurement error of EVA in an individual company. We revisit the benefits of EVA by...

The finance-growth nexus that argue on the real effect of finance is examined in this study. Specifically, we investigated two related links; stock market development-growth link and financial openness-stock market development link for six East Asian nations (Indonesia, South Korea, Malaysia,...

Research in experimental financial markets suggests that most people tend to overreact to unexpected, striking, and more recent news, and underreact to ordinary or non desirable new events. Many researchers document, as a result that, if one of these behavioral designs exist, then stock prices...