In this paper, differences in return autocorrelation across weekdays have been investigated. Our research provides strong evidence of the importance on non-trading periods, not only weekends and holidays but also overnight closings, to explain return autocorrelation anomalies. While stock...

This paper investigates bilateral trade in banking services within the European Union. The attention has been addressed to two main issues. First, to test the bank's motivations for setting up the different forms of overseas offices, and secondly, to assess the importance of barriers to entry...

This paper investigates the timing of foreign direct investment (FDI) in the banking sector. The importance of this issue would arise from the existence of differential benefits associated to be the first entrant in a foreign location. Nevertheless, when uncertainty is considered, the existence...

Banks can expand their activities abroad through different organizational forms: representative offices, agencies, branches and subsidiaries. The election by the bank of one of them will determine the range of services that he could offer through its overseas offices and, therefore, the role...

This paper investigates the expansion of foreign bank's activities in Spain for the period 1988-1992. The eclectic theory framework is adopted. I hypothesize that the factors that make possible banking expansion abroad are bank's size and growth, foreign direct investment in Spain from the...