Understanding and measuring determinants of bid-ask spreads is decisive to clarifying the efficiency of the microstructure of any exchange and general market liquidity. This paper examines the market microstructure of a low liquidity, market maker driven option market, the relations to the underlying securities’ market and the challenges of pricing liquidity. Comparing empirical results with pr...

In this paper, the authors investigate relationship between marketing resources and firm performance in context of SMEs a developing African economy. Drawing on sample from Ghana, study examines direct performance, mediation role capabilities way market munificence moderates impact performance. They find evidence positive causal link use The findings provide insight to practicing SME managers c...

onsiderable progress has been made in identifying market-driven businesses, understanding what they do, and measuring the bottom-line consequences of their orientation to markets. The next challenge is understand how this organizational can be achieved sustained. Market Orientation a business culture which enlist participation all employee for purpose creating superior value its customers perfo...

Research to date looking at marketing capabilities is limited to varied types of capabilities in general. The purpose of the study is to comprehend marketing capabilities from operational perspective and to explore its role in enhancing competitive advantage and business performance. The paper draws upon the extant literature to present a series of research propositions relating to marketing ca...

Executives use market labels to position their firms within market categories. Yet this activity has been given scarce attention in the extant literature that widely assumes that market labels are simple, prescribed classification brackets that accurately represent firms’ characteristics. By examining how and why executives use the nanotechnology label, we uncover three strategies: claiming, di...

This paper evaluates the market timing and security selection capabilities of Australian pooled superannuation funds over the eight-year period from January 1991 to December 1998. Evaluation of both components of investment performance is surprisingly scarce in the Australian literature despite active investment managers engaging in both market timing and security selection. The paper also eval...