This paper documents the importance of testing for structural change in the context of emerging markets. Typically, asset pricing factor models for emerging markets are conditioned on world financial market factors such as world equity excess returns, risk and maturity spreads as well as other...

As investor and researcher interest in emerging markets increases, the question of the availability and reliability of financial information pertinent to these markets becomes more and more important. This paper examines the availability and quality of accounting information on Malaysian firms...

To enhance our understanding of emerging markets we study a data set containing all the transaction records over a long span. The market, which was included in 1996 in the International Finance Corporation (IFC) data base roughly three years after important market reforms, operated under a dual...

This paper explores several aspects of the vertical relationship between an upstream firm and a number of downstream firms that are Cournot rivals relying on the inputs provided by the upstream firm. We address the following questions: (i) if the upstream firm can charge different prices to...