Managerial Finance


Accounting and Finance

Table Of Contents: Volume 24 Issue 4

Interaction of volatility and autocorrelation: evidence from major stock exchanges

G. Geoffrey Booth, Gregory Koutmos

Compares stock market returns behaviour for six stock markets in order to find out whether nonlinearities are a result of conditional heteroscedasticity or of previous…

Price discovery in German stock and futures markets

John Paul Broussard, G. Geoffrey Booth, Otto Loistl

Compares the trading efficiency of electronic and open outcry futures markets. Argues that the difference between the German DAX (floor) and FDAX (electronic) markets is…

Some evidence on regime shifts in international stock markets

Kazume Nishiyama

Compares the aggregate stock returns of five countries in order to understand their behaviour, bearing in mind shocks and regime shifts. Applies a Markov‐switching model…

A cointegration analysis of interest rates in Germany

Wolfgang Bessler, John R. Norsworthy

Reviews the literature on the term structure of interest rates. Suggests that low German inflation might lead to idiosyncratic interest rate behaviour in Germany. Tests…

Employee stock ownership plans (ESOPs): an international comparison and analysis

Roger W. Clark, George C. Philippatos

Surveys the development of employee stock ownership plans (ESOPs) in the USA, Canada, Japan and the EU. Suggests that ESOPs are driven by management in the USA but are…



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  • Professor Don Johnson