This study is the first to simultaneously analyze the relation between aggregate stock market returns and cash flows of the various investor groups that constitute the entire stock market in the United States. We examine the relation between investor flows and stock market returns over a long time period from 1952 to 2004, and also examine the relation between investor flows and longer-term sto...

The valuation and applications of one-touch double barrier binary options that include features of knock-out, knock-in, European and American style are described. Using a conventional Black Ð Scholes option-pricing environment, analytical solutions of the options are derived. The relationships among di€ erent types of one-touch double barrier binary options are discussed. An investor having a p...

We examine if the benefits of international portfolio diversification are robust to time-varying asset return volatility. Since diversified portfolios are subject to common cross-country shocks, we focus on the transmission mechanism of such shocks in the presence of regime-switching volatility. We find little evidence of increased market interdependence in turbulent periods. Furthermore, for t...

In recent years, because of the high potential for insurability in Turkey and the rapid improvement of insurance sector, foreign investors are interested in Turkish insurance market. Since insurability rate has reached saturation point in their countries, foreign investors tended to make investments in Turkey and start to purchase local insurance companies in Turkey. In this paper we analyze fi...

Using data for the period 1983-2002, this study examines the relationship between inward foreign direct investment (FDI) and export performance in China. The results indicate that FDI promotes exports by foreign as well as domestically-owned firms, and that this effect is strongest for labour-intensive industries. This impact, however, does not depend on the country of origin of the investor. T...

This study examines 2,933 cases of Japanese investment in 27 provinces and regions in China to identify the role that policy determinants had in influencing the sub-national location decision of Japanese firms in China. The empirical results show that the Special Economic Zones (SEZs) and Opening Coastal Cities (OCCs) were a successful policy instrument initially, as SEZs and OCCs had a strong ...

The globalization in market, foreign investment and effect of current news issues makes difficult for investor to take better decisions. This paper introduces a new algorithm CII and describes the process of finding best association rules which is promising one to forecast the market. This experimental work reduces the time required for processing huge stock data and extract best rules with min...

The objective of this study is to assess the effects of home country investor protection and ownership structure on the Sarbanes-Oxley Act (SOX)–mandated internal control deficiency (ICD) disclosures by foreign firms that are listed on the U.S. stock exchanges (hereafter referred to as cross-listed firms). Our research question is important for two reasons. First, cross-listed firms have become...

Emerging markets exhibit (1) high expected returns to capital and (2) large exposures to movements in US returns, measured by the ‘beta’ of the returns to the asset on the returns to its US counterpart. We document these facts in detail for two asset classes stock market returns and the return to aggregate capital and we provide further evidence from a third class sovereign bonds. We use a seri...