This paper studies the economic significance of stock and bond return predictability in UK market over period February 1991 to May 2002, based on a real-time investment simulation with only publicly available information. We use ten macroeconomic and financial variables as the predicting...

This paper investigates empirically the change(s) in the long-run relationship(s) between the stock prices of eight Far East countries around the Asian financial crisis of 1997-1998. Further tests are conducted to check the change in the influence of the Japanese and the US stock markets in the...

This paper examines the pattern of interaction among Asian exchange rates, and how the pattern changed before and during/after the Asian financial crisis of 1997-98. The empirical tests are conducted using daily nominal exchanges rates based on the US dollar and the Japanese yen from several Far...

This paper is a contribution to the ongoing debate on the benefits and drawbacks of bank revenue diversification. Revenue diversification may benefit banks if diversified activities are inherently less risky and possess high returns, while it may hurt banks if diversified activities are more...

Based on the service quality (SERVQUAL) model and logistics service quality (LSQ) model, this study investigates the antecedents of customer satisfaction with parcel locker services in last-mile logistics. Data were collected from a survey of 321 consumers in China and analyzed using structural...

The method of orthogonal regression has a long and distinguished history in statistics and economics. It has been viewed as superior to ordinary least squares in certain situations. However, our theoretical and empirical study shows that this method is flawed in that it implicitly assumes...

This paper pioneers the study of the economic significance of the monthly seasonality in the emerging markets. Previous literature on the seasonal anomaly, mainly on big and developed markets, has often reported that the anomaly is insignificant after considering the transaction costs. Using...

This paper examines the dependence of the Intraday Nikkei Stock Index Futures returns using Markov chain methodology and offers an alternative viewpoint to explain the contradictory empirical evidences of market efficiency and inefficiency. The current log price returns significantly influence...