Purpose – The purpose of this paper is to analyze the evolution of the crisis, its causes and the corrective policy actions with the aim of drawing up from that a set of economics policy and substantive implications and conclusions. Design/methodology/approach – To throw into sharp relief...

Purpose – The purpose of this paper is to shed light on the causes of the 2007‐2009 mortgage crisis, liquidity crisis, stock market volatility in the USA and their spillover effects on the global economy. Design/methodology/approach – The paper critically reviews the 2007‐2009 financial...

Purpose – The purpose of this paper is to distinguish the economic foundations of post‐Communist capitalism and to examine the key economic problems of this type of society in the context of the modern financial crisis. Design/methodology/approach – This question is approached by studying...

Purpose – The purpose of the paper is to outline the global financial and economic crisis that began in 2007, together with the macroeconomic policy changes that were put in place as a result. Design/methodology/approach – The content is partly descriptive and partly analytical. Findings –...

Purpose – This paper attempts to identify the areas for further research related to regulating credit‐rating agencies (CRAs), in order to assess whether the prerequisite for a “complete change” is present so to achieve a genuine paradigm shift on the matter. Design/methodology/approach...

Purpose – The purpose of this paper is to investigate the effects of investment opportunities and corporate finance on dividend payout policy. Design/methodology/approach – This issue is tested with a sample of 34 emerging market countries covering a 17‐year period, 1990‐2006. Fixed...

Purpose – The purpose of this paper is to disentangle the driving force of pyramidal firms' capital structure from nine East Asian economies. Design/methodology/approach – To disentangle the driving force, this paper develops a new theoretical framework for the pyramidal firms'. Using panel...

Purpose – The purpose of this paper is to examine the applicability of data envelopment analysis (DEA) as a basis of value portfolio selection criterion. Design/methodology/approach – The portfolios are composed of the comprehensive sample of Finnish non‐financial stocks based on their DEA...

Purpose – The purpose of this paper is to analyze narrow money demand functions for the Pacific Island countries (PICs) and evaluate their stability. The selected PICs are Fiji, Vanuatu, Samoa (SAM), Solomons and the Papua New Guinea. The stability of the demand for money is vital for the...

Purpose – The purpose of this paper is to examine the existence of rational speculative bubbles in the Middle East and North African (MENA) stock markets. Design/methodology/approach – To complement shortcomings of the traditional bubble tests, such as unit root tests and cointegration...