The results indicate that although interest rate premia reflect a number of small firm risk characteristics, they do not seem to have significantly benefited from the increased bank competition of the late 1980s.

In this paper we review the literature on the short term predictability of stock prices conditional on large prior price changes. This research area is characterized by a large number of studies reflecting different markets, time periods, methodologies and model parameters. While most of the...

The recent financial crisis has raised significant questions about liberal free-markets as a mechanism for generating economic growth compared to those economies where there is greater state intervention. This article develops a theoretical framework for economic development that can explain...

There is little doubt that corporate governance has become one of the key issues for students of business management in the 1990s. This text is the first to draw together the various strands of the debate from economics, finance, and accounting perspectives, and from an international angle that...

There is existing evidence of equity returns having a mixture distribution with multiple component structures. Following the increasing interest in intraday trading, this article examines determinants of intraday equity return distributions and finds that greater information flow and stock...

Boards of directors play an increasingly fundamental role in British NHS trusts as well as other parts of the public sector. This study shows that their effectiveness is compromised by issues related to internal dynamics, processes, responsibility, overall functions and performance. The focus of...

Purpose – The paper aims to investigate the collective behaviour of boards of directors in 22 English National Health Service trusts and how this impacts on the exercise of their role and functions. Furthermore, it aims to shed light on the governance model characterising boards of health...