Studies in Economics and Finance: Volume 20 Issue 1

The Performance of Roll‐Up Initial Public Offerings

Jarrod Johnston, Jeff Madura

Roll‐up initial public offerings (IPOs) create a company to consolidate a number of smaller companies in a fragmented industry. The company that results has limited operational…

Empirical Evidence on the Impact of European Insider Trading Regulations

Javier Estrada, J.Ignacio Peña

Between 1988 and 1994 ten European countries introduced or modified their regulations on insider trading. We evaluate in this article the impact of such regulatory changes on the…

The Consumption Based Capital Asset Pricing Model, Regime Shifts, And The Japanese Economy

H.J. Smoluk, E. Tylor Claggett

Like many industrial nations over the last four decades, the Japanese economy has undergone a number of regime shifts, making parameter estimations difficult. One of the most…

The Effect of the Asian Financial Crisis on Stock Returns, Volatility and Market Integration in the Region

Eric C. Girard, Hamid Rahman

This paper investigates the change in informational spillover between nine Asian capital markets and the United States as a result of the 1997–98 financial meltdown in Asia. Our…

The Relationship Between Financial Development and Economic Growth: Evidence From China

Xiaohui Liu, Chang Shu

This paper investigates the causal links between financial development and economic growth in China by employing the Granger causality test within a VARECM framework…

Foreign Trade, Human Capital and Economic Growth in Taiwan: A Re‐examination

Ali F. Darrat, Maxwell K. Hsu, Maosen Zhong

This paper re‐examines recent claims in the literature that foreign trade (economic openness) plays no role in the Taiwanese economic growth once human capital is taken into…