The attraction of blue-chip listings in emerging stock markets is a major policy initiative common across much of the developing world. In many cases however, local blue-chip firms are the result of foreign Multinational Enterprise (MNE) firms engaging with local indigenous partners to form an...

Our study contrasts the influence of firm level adoption of shareholder value governance against that of formal institutional quality on listed firm’s bid ask spread in a unique sample of eight Caribbean offshore stock exchanges. Using panel data from 146 listed firms from 2004 to 2017 our...

This paper assesses the effectiveness of traded turnover, Amihud (2002) and Liu (2006) metrics in measuring illiquidity, as used in a multifactor CAPM. The performance of this model is contrasted using a unique sample from Japan's regional stock exchanges, namely Sapporo, Nagoya, Fukuoka, Osaka...