This study uses international asset pricing models to investigate the link between the quality of government institutions and the performance of global stock markets. The results demonstrate a significant positive association between stock market performance measures and the quality of the...

In this paper we report preliminary empirical results on the issue of the interaction of the investment and financing decisions in the Australian context. The investigation was implemented on a sample ranging from 144 to 221 firms for the period from 1980/85. Strong support for the hypothesis...

This study seeks to provide evidence on the importnace and significance of capital structure determinants in the Australian context. The analysis was implemented on a sample of 226 Australian companies from 1977 to 1985. The following results are obtained. Company non-debt tax shields display a...

In a Black Scholes world there exists a dynamic trading strategy that can replicate the payoff of an option. The technique of Portfolio Insurance is an application of this principle. This paper examines the ability of a futures based trading strategy to replicate the returns of a protective put...

The purpose of this paper is to examine the effect of governance environments upon stock market risks and Appraisal ratios for developed and emerging stock markets over the time period January 1995 to December 2002. Using an augmented international capital asset pricing model (ICAPM) model and...

This paper compares the performance of 'good governance' and 'poor governance' portfolios at the country level for a time period spanning January 1st 1995 until 31st December 2002. Comparison between the two portfolio types are made on the basis of an equally weighted and value weighted...

The purpose of this paper is to examine the effect of governance environments upon aggregate dividend yield and earnings per share for developed and emerging stock markets over the time period January 1995 to December 2002. Using an augmented version of the dividend growth model and allowing for...