The number of preferential trading arrangements (PTAs) approved under the General Agreement on Tariffs and Trade (GATT) and the World Trade Organization (WTO) has increased significantly, from just one in 1949 to more than 100 today. In fact, PTAs such as the European Union and North American Free Trade Agreement (NAFTA) have more power than the United Nations. In a 1995 study, the WTO Secretar...

this paper investigates the informational content of abnormal volume trading of shares listed at tehran stock exchange (tse) using an event study methodology. the results for a sample of 48 iranian firms during 1385-1388 show that there are abnormal returns before and after the abnormal trading volume dates. regression analysis also shows that there is a significant relationship between trading...

As e-commerce is growing rapidly, the need for an evaluation model of Internet business is increasing as well. This paper suggests a comprehensive evaluation model for one of the most important e-commerce systems, which is cyber trading system for stocks and bonds. Through an empirical study based on the evaluation model, this research identifies critical design factors for cyber trading system...

To derive the supply and demand issues during the first phase of the Korea Emission Trading Scheme (KETS), we investigated the excess or shortage, and the carry-over inflow of carbon emission permits for all of the domestic industries and major corporations. In particular, this study explored the supply and future prospects of offset credits, as well as the allocated permits, by forecasting the...

This study develops a theoretical model in which the voluntary disclosure of earnings forecast is a double-edged sword. Such disclosure may reduce the information asymmetry between investors and firms but simultaneously allows entrepreneurs create hype. Beginning from 2005 the disclosures of financial forecasts for Taiwanese public companies have not been mandatory, with firms being able to dec...

Abstract Using detailed data on company visits by Chinese mutual funds, we provide direct evidence of fund information acquisition activities and the consequent informational advantages funds establish in local firms. Mutual are more likely to visit nearby firms both outside their portfolios, but ease travel between firm locations can substantially alleviate geographic distance constraints. Com...

In this paper we try to answer the question as to whether insider trading disclosures convey valuable information to market participants, valuable in the sense of the profitability of an investment strategy that faithfully mirrors insider behaviour. Our interest in this subject is limited to the case of announcements concerning insider transactions issued over a six-year period on the Warsaw St...

Companies today use IT extensively, especially so in the financial industry. This makes managing technology an important management issue. When new technologies arrive managing technology shifts prudently becomes vital for gaining or sustaining competitive advantages. This paper addresses the interdependences between such technology shifts and the business operations by using the world wide web...