This paper will attempt to provide a comprehensive review and introduce the concept of international financial integration. In addition, it provides a review on the available indicators used as proxies for international financial integration in empirical studies. It also proposes a more detailed...

This paper examines whether the firm-level and the industry-level cross-sectional volatility (CSV) contains any incremental information about the future market-level volatility in Australia. We analyze daily equity returns data from 2 January 1992 to 31 May 2004. Using a conditional volatility...

This paper investigates the empirical relationship between intraday volatility and trading volume. Our primary data set consists of 5-minute returns and trading volumes for the period between January 1, 2000 and December 31, 2002, for a subset of thirty-nine stocks from the Shanghai Stock...

There has been an increase in the degree of international financial integration over the last two decades. Countries are trying to remove the restrictions on cross-border capital movement, deregulate the domestic financial markets and offer competitive investment environment to encourage...

All banks must hold capital equal to the minimum regulatory requirement. However, in many cases the level of regulatory capital diverges from the actual (economic) capital held by banks. A bank's actual capital is typically linked to a target credit rating, which is in turn determined by the...

In 1987 Lopes developed Security/Potential, Aspiration (SP/A) Theory, a framework for risky choice under uncertainty. Similar to Prospect Theory, SP/A Theory seeks to combine the forces of Economics and Psychology. This means that the assumption that individuals make choices based on expected...

The rapid increase in international capital flows is one of the most significant developments in the global economy in recent decades. International portfolio diversification brings potential benefits to investors by offering investors the opportunity to insulate their portfolios from domestic...

Preliminary results suggests that Australia's external holdings of equity and debt as a percentage of national income almost doubled between 1997 and 2001. However, Australia international investment position as a percentage of national income is one of the lowest among the major OECD countries....

In this article, we analyse the geography of Australia's international portfolio investment using the International Monetary Fund's Co-ordinated Portfolio Investment Survey dataset. Preliminary results suggest that Australia's external holdings of equity and debt as a percentage of national...

In this paper we study the effect of quality of institutions in the OECD and Asian host countries on outward foreign direct investment (FDI) stocks of source OECD countries using International Country Risk Guide governance indicators, for the period 1991 to 2001. We find that better institutions...