Single index financial market models cannot account for the empirically observed complex interactions between shares in a market. We describe a multi-share financial market model and compare characteristics of the volatility, that is the standard deviation of the price fluctuations, with empirical characteristics. In particular we find its probability distribution is similar to a log normal dis...

PURPOSE This study examines the integration effects on efficiency and financial viability of the top 100 integrated healthcare networks (IHNs) in the United States. THEORY A contingency-strategic theory is used to identify the relationship of IHNs' performance to their structural and operational characteristics and integration strategies. METHODS The lists of the top 100 IHNs ranked in two ...

Using recent advances in the econometrics literature, we disentangle from high frequency observations on the transaction prices of a large sample of NYSE stocks a fundamental component and a microstructure noise component. We then relate these statistical measurements of market microstructure noise to observable characteristics of the underlying stocks and, in particular, to different financial...

FinTech play a pivotal role in facilitating access to financial products and services. At the moment, the country characteristics that facilitate the use of FinTech are not adequately identified in the literature. This paper attempts to contribute to the understanding of which country characteristics facilitate the use of FinTech and how FinTech can drive sustainable economic development. Based...

The study examines the performance and financial characteristics of non-financial companies (low and high sales growth companies) that were involved in mergers and acquisitions in Malaysia. Capital gains were used to measure the companies’ performance over a period of two years and profitability measures (ROE, EPS, dividends payout, gearing ratio, PE ratio) were incorporated in the study. Paire...

As part of a future international accounting standard, the USA Financial Accounting Standards Board and UK International Accounting Standards Board recently updated their description of the financial reporting information characteristics that determine its decision usefulness for end users. Yet the relationships inherent in the description have not been empirically validated. If invalid, the de...

The presence of stock market efficiency is a distinctive characteristic of the effectively functioning market economy. Investigation of the market efficiency of seven emerging East-European stock exchanges is carried out as their major stock indices (BELEX15, BET, CROBEX, ISE100, PFTS, RTSI, SOFIX) are studied in respect of long-range dependence (LRD), persistency, and forecasting possibili...