Purpose - The purpose of this paper is to develop a methodology to study profit vs non-profit seeking firms usefully to compare corporate performance. It aims to apply the methodology to measure if state vs non-state firms with different objectives are comparable in performance. If relevant, the...

Builds on the work of Damodaran (1993) and Brisley and Theobald (19967) on measuring the speed with which stock markets convert information into price changes by using a simpler model of the price adjustment coefficient and applying it to 1988‐1966 data from the Hong Kong, US and Japanese...

Purpose – The purpose of this paper is to develop a methodology to study profit vs non‐profit seeking firms usefully to compare corporate performance. It aims to apply the methodology to measure if state vs non‐state firms with different objectives are comparable in performance. If...

Three years after the introduction of exchange‐traded options on the American scene, a call options market was made with ten popular common stocks in Singapore in early 1977. Only calls were traded and no puts were introduced. After six months of trading actively, volume dwindled, and the...