The standard root-b1 test is widely used for testing skewness. However, several studies have demonstrated that this test is not reliable for discriminating between symmetric and asymmetric distributions in the presence of excess kurtosis. The main reason for the failure of the standard root-b1...

Over the past decades, ASEAN countries have made wide-ranging commitments and concerted efforts to achieve financial integration. This puts forth the question of how far that has been realized as well as cross-market transmission in mean, volatility and conditional asymmetry. These issues are...

The unusual severity of the recent global financial crisis has drawn much attention to systemic risk, particularly its measurement, and the institutions that contribute most to it. This paper provides an empirical examination of the systemic risk potential among banking institutions in Asia...