The focus of this article is to test the trading cost hypothesis of price leadership, which predicts that the market with the lowest overall trading costs will react most quickly to new information. In an attempt to hold market microstructure effects constant and in contrast to previous studies,...

Expanding the level of entrepreneurial activity within all nations is an increasingly important political and economic goal, especially for developing countries. Literature suggests that culture, education and environment play key roles, yet these attributes vary greatly across nations. This...