This paper deals with the interrelations between stocks listed and traded in two international unsynchronized markets. The data exhibits first order nonstationarity and the series across markets are cointegrated. This gives a justification for an error correction model which incorporates a short...

Mean and variance of daily type-A and B stock returns in Shanghai and Shenzhen exchanges are studied before and after these stocks were subject to a -10% daily return limit, and when investors' clientele were segmented, vs. merged. We find that imposing the -10% return limit significantly...

This study investigates the impact of information technology on common stock returns and trading volume. By focusing mainly on the peak period of the hi-tech phenomenon, the findings imply that the market response to website launching is positive. During the event day and the two preceding days,...

This paper examines pricing policy, quality levels, consumer surplus and social welfare for the monopoly and non-monopoly case. It is shown that given certain realistic assumptions, the network industry under unregulated monopoly would yield more social welfare than in the case of several...

The paper analyzes the options open to monopoly firms that sell Internet services. We consider two groups of customers that are different in their reservation prices. The monopoly uses price discrimination between customers by producing two versions of the product at positive price for...