The recent economic downturn of 2007-2008 has brought renewed focus on working capital policies. In this paper we examine the role of business cycles on the working capital-profitability relationship using a sample of Finnish listed companies over an 18 year period. We find the impact of...

This study examines whether the United States (US) macroeconomic news announcements affect volatilities of emerging stock markets in the Asia-Pacific region. For this purpose, the behavior of GARCH volatilities of nine major emerging markets (China, India, Indonesia, Malaysia, Pakistan,...