In September 1994, the Wall Street Journal started the Annual Report and Earning Service. Firms participating in this service volunteer to provide on request, to any reader, their annual report and current quarterly information. The daily price quotations of such firms appear with a small symbol...

In this paper, the influence of three Hong Kong bank failures on stock prices of the colony's banking industry is examined. As deposit insurance is nonexistent in Hong Kong, the world's fourth-largest financial center, an interesting environment is provided for testing contagion effects of bank...