Adopting a MS-VAR model (Krolzig, 1997) and a recently developed regime-dependent impulse response analysis technique (Ehrmann, et al., 2003), this paper investigates the dynamic relationships among the stock markets of the US, Australia and New Zealand. Our results reveal the existence of two...

In his seminal paper, Brooks argues that the relation between return volatility and trading volume can be both linear and nonlinear. Adopting both linear and nonlinear Granger causality tests, he shows that there exists both linear and nonlinear bi-directional causality between trading volumes...

This paper uses linear and nonlinear Granger causality tests to study information transmission among stock markets of Greater China. In sharp contrast to the results disclosed by its linear counterpart, a nonlinear causality test provides evidence of isolated bi-directional causal relations...

Rapid economic growth is often disruptive - so how has the Chinese state been able to maintain compliance from its people while pursuing an exceptionally fast social and economic transformation? This crucial question is explored through detailed analysis of the trajectories, policy rationale,...

Pedestrian group detection is a challenging but significant issue in pedestrian flow control and public safety management. To address the issue that most conventional pedestrian grouping models (PGMs) can only identify a pedestrian group at a limited distance of less than 2 m, this study...

Purpose: This study investigates the level of compliance with, and disclosure of, good corporate governance (CG) practices among UK publicly listed firms, and consequently ascertains whether board characteristics and ownership structure variables can explain observable differences in the extent...