1.

THE RELATIONSHIP BETWEEN ENTREPRENEURSHIP AND CORPORATE

GOVERNANCE. THE CASE OF ROMANIAN LISTED COMPANIES

Albu, NadiaAuthor InformationView Profile; Mateescu, Ruxandra

Adriana. Amfiteatru Economic; Bucharest17.38 (Feb 2015): 44-59

Abstract: Abstract This paper offers an investigation at a micro-level of

entrepreneurship in the business environment. More precisely, we conduct
an empirical study of the relationship between corporate entrepreneurship
and corporate governance in the case of the Romanian nonfinancial listed
companies. We use publicly-available information (financial statements,
annual reports) and we mobilize a framework derived from the agency and
signalling theories to interpret our findings from the statistical analysis
based on correlations. Our results suggest that there are differences
between industries and between the companies included or not in the new
BET-TR index in terms of corporate entrepreneurship and corporate
governance practices and disclosures. Agency theory partly explains our
findings. Specifically, some corporate governance mechanisms, i.e. board
independence and institutional ownership, are associated in our sample
with corporate entrepreneurship. We thus document that corporate
governance as a controlling and management technique fosters corporate
entrepreneurship in Romanian companies. Signalling theory assumptions
are generally not verified for the companies in our study. There are only a
few associations between high values of corporate entrepreneurship and
corporate entrepreneurship disclosures, and even fewer between
corporate governance practices and corporate governance disclosures

2. Does Diversification Influence Systematic Risk and Corporate

Performance? An Analytical and Comprehensive Research Outlook
Manrai, Rishi; Rameshwar, Rudra; Nangia, Vinay KumarAuthor
InformationView Profile. Global Business and Management
Research; Boca Raton6.2 (2014): 93-
 Abstract Purpose: Theory and evidence suggest that large multi business
corporate can enhance performance by developing and exploiting
corporate level distinctive competencies. This tends to influence the
corporate capital structure as well as its financial performance.
Nevertheless, despite the enormous interest in the field, the debate still
continues on whether corporate diversification creates value for the
corporate or not? Design/methodology/approach: The study tries to
investigate the relationships between corporate level distinctive
competencies and performance, which are examined across corporate
using popular Herfindhal Index (HI) as a proxy for corporate diversification.
EViews tool has been used to derive relationship among the variables
considered for study followed by multiple linear Regression technique and
Descriptive Statistics.

3.Corporate governance and investors' perceptions of earnings quality:

Egyptian perspective :

Ibrahim El-Sayed Ebaid. Corporate Governance; Bradford13.3 (2013):

261-273
Abstract Purpose The purpose of this paper is to test whether corporate governance mechanisms
promoted by the Egypt Code of Corporate Governance are effective in enhancing investors perceptions
of earnings quality. Design/methodology/approach The study uses a 2 2 experimental design with a
strong level of corporate governance versus a weak level of corporate governance to explore the
relation between corporate governance practices and the perceived quality of reported earnings.

4. Oil Price Shocks and the Stock Market: Evidence from Japan
Abhyankar, Abhay; Xu, Bing; Wang, Jiayue. The Energy Journal;
Cleveland34.2 (2013): 199-222.
Abstract We study, using a structural vector autoregressive (SVAR) model, the
relationship between oil price shocks and the Japanese stock market. We find that
oil price shocks that arise from changes in aggregate global demand are positively
correlated to returns on the Japanese stock market. Thus, in contrast to the
conventional wisdom, a rise in oil price is not always bad news for the Japanese
stock market. On the other hand, the Japanese stock market reacts negatively to
oil price increases related to oil-market specific demand shocks. Finally, different
from prior research using U.S. stock market data, we find that supply and demand
shocks in the global crude oil market affect returns to the Japanese stock market
index through changes to expected real cash flows rather than to changes to
expected returns

5. Corporate Social Responsibility in Hospitals: Need for Transparent CSR

Initiatives for Internal and External Stakeholders

:Vedantam Leela. International Journal of Business Ethics in Developing

Economies; New Delhi3.1 (2014):
Abstract Social Responsibility initiatives are the indispensible strategies for governance and this applies
equally well in the field of Corporate framework also. In the recent times, the corporate houses other
than healthcare industry, evidently demonstrated that strategic balance among social, environmental,
and commercial goals can be accomplished. Corporate hospitals contemporary functioning rests on the
anarchic assumptions that healthcare industry functions on the notion that what is good for patients or
society cannot be good for business. At a time when patients are overexposed to medical procedures
and medical treatment is within the reach of affordability of only those who are well insured, there
arises a question,is it not essential for corporate hospitals to adopt CSR initiatives. An important
corollary question, that also needs to be examined, is whether and for what reasons CSR initiatives must
be nurtured by Corporate Hospitals. Drawing up from the existing research studies on CSR in corporate
hospitals in Indian scenario i.e., corporate hospitals and healthcare sector, this paper (i) undertakes a
thorough examination of the CSR initiatives needs a thorough examination; (ii) examines the
implications of modelling of CSR in corporate hospitals so as to create a right balance between their
social and economic objectives; (iii) to this extent, the paper hypothesizes that (a) employee costs of
corporate hospitals may positively increase due to CSR initiatives; (b) profit maximization i.e. positive
increases due to CSR initiatives; and (c) the degree of workforce efficiency positivelyincreases sales
turnover due to CSR initiatives.

6. Corporate governance mechanisms and capital structure in UAE :

Hussainey, KhaledAuthor InformationView Profile; Aljifri, Khaled.
Journal of Applied Accounting Research; Leicester13.2 (2012): 145-160.
Abstract Purpose The purpose of this study is to examine the impact of
corporate governance mechanisms on corporate financial decisions in one of the
emerging economies, United Arab Emirates (UAE). In particular, the paper
examines the degree to which internal corporate governance mechanisms and an
external corporate governance mechanism affect UAE firms capital structure.
Design/methodology/approach The paper uses a multiple regression analysis to
examine the association between corporate governance and capital structure for
a sample of 71 UAE firms listed either in the Dubai financial market or the Abu
Dhabi securities market during 2006

7. Study On The Relationship Between Ownership Structure

And Corporate Performance: Evidence From Chinese
Companies Listed On The GEM Board
Zhang, Qiaowen; Erasmus, PierreAuthor InformationView Profile. The
International Business & Economics Research Journal (Online); Littleton15.2
(2016): 27
The study on which this article reports, analyzed the current situation of ownership structure
and corporate performance based on the panel data of 153 companies listed on the Growth
Enterprises Market (GEM) board from 2010 to 2012 and explored the mechanism of companies
ownership structure to corporate performance with multiple regressions. The results show that
tradable shares, state-owned shares and managerial shares have a negative correlation with
corporate performance, and that there is a significant quadratic non-linear relationship
between tradable shares and corporate performance while legal-person shares are not
significantly related to corporate performance. We also found that the shareholding ratio of the
top ten largest shareholders has a significantly positive correlation with corporate performance
but we failed to find any significance for the largest shareholder and the Z index.

8. Managerial overconfidence, government intervention and corporate

financing decision
:Ting, Irene Wei Kiong; Lean, Hooi Hooi; Kweh, Qian Long; Azizan, Noor
Azlinna. International Journal of Managerial Finance; Bradford12.1
(2016): 4-24
Abstract Purpose The purpose of this paper is to investigate the impact of
managerial overconfidence on corporate financing decision and the moderating
effect of government ownership on the relationship between managerial
overconfidence and corporate financing decision. Design/methodology/approach
Pooled OLS, fixed effect models (FEM), and Tobit regressions are employed to
examine the relationship between managerial overconfidence, government
ownership and corporate financing decision of publicly listed companies in
Malaysia for the period of 2002-2011

9. Governance and the corporate life-cycle

:O'Connor, Thomas; Byrne, Julie. International Journal of Managerial
Finance; Bradford11.1 (2015): 43-23.
Abstract Purpose The purpose of this paper is to examine whether corporate governance changes
along the corporate life-cycle. Design/methodology/approach In a sample of 205 firms from 21
emerging market countries and using a life-cycle proxy from the dividends literature, the authors use a
governance-prediction model which examines whether corporate governance differs along the
corporate life-cycle

10. The impact of multi-dimensional corporate transparency on

us firms' credit ratings and cost of capital :
Deboskey, David GregoryAuthor InformationView Profile;
Gillett, Peter RAuthor InformationView Profile. Review of
Quantitative Finance and Accounting; New York40.1 (Jan 2013):
101-134.
Abstract : Our maintained hypothesis is that there are causal relationships between levels of
corporate transparency and the various outcome variables studied, though an empirical study
such as this can at best establish association. Even so, we have included a temporal dimension
by looking at associations between prior corporate transparency and subsequent levels of the
criterion variables (credit rating, cost of debt capital, cost of equity capital, and market beta).
Our study relies on the most complete model of corporate transparency in the extant literature,
but it has not previously been adapted to the US market, and its external validity is thus not yet
empirically established. Our sample firms primarily follow best practice disclosure and our
results may not generalize to non-best practice disclosure firms. Further, the reliability of the
cost of equity capital estimate used in this study as a proxy for expected return is not
overwhelmingly established by prior studies. We believe that the PEG ratio operationalized in
this study embodies many of the theoretical important relationships such as beta, size and
growth prospects that the extant literature has determined as important attributes. Of course,
there is always the possibility that measurement error has been introduced as a result of using
an inappropriate expected return model for the sample firms and year chosen. Increasingly,
there are concerns in the literature regarding endogeneity biases (e.g., Nikolaev and Van Lent
2005). We focus on S&P firms, which may somewhat mitigate concerns over heterogeneous
costs of disclosure; in addition, we do include measures of firm size as controls. However, we
do not control for differing firm management reputations, and this and any other omitted
variables may limit the conclusions and inferences that can be drawn

10. The Financing and Corporate Governance Effect of Issuing

Corporate Bonds by Listed Companies
:Zhang, Jingmin. Management & Engineering; Brighton East 12 (Sep 2013): 50-53

This paper pays attention to the issuance of corporate bonds to explore the effect
of corporate bonds of listed companies on the financing and corporate
governance. We find that the costs of issuance of corporate debt financing are
still higher than the cost of equity financing. Corporate bonds of listed companies
in China still can not change the "preferences for equity financing" in a short time.
But the bond financing for the improvement of corporate governance will help
improve corporate performance.

11. CORPORATE GOVERNANCE PROBLEMS IN UKRAINE

:Polinkevych, Oksana M. Aktual'ni Problemy Ekonomiky =
Actual Problems in Economics; Kiev 179 (2016): 191-196.
Abstract: The article describes the current state of corporate
governance in Ukraine. It is suggested to evaluate the state of
corporate governance in three stages. Problems in corporate
governance are revealed associated with differences in corporate
governance development across countries, different understanding of
corporate governance as such, different level of readiness to business
transparency, awareness and corporate culture.

12. Corporate governance systems and firm value:

empirical evidence from Japan's natural experiment
Eberhart, RobertAuthor InformationView Profile. Journal
of Asia Business Studies; Bingley6.2 (2012): 176-196.
Abstract - This paper aims to present evidence that the adoption by Japanese
firms of a shareholder-oriented, more transparent, system of corporate
governance creates greater corporate value in comparison to the traditional
system of statutory auditors. Design/methodology/approach - This study uses
panel data of Tokyo Stock Exchange listed companies to explore the potential
convergence of corporate governance systems by examining the value differences
between Japanese firms selecting one of two legal systems. A random-effects
panel regression is used to analyze the data. The dependent variable of the study
is Tobin's q. Findings - This paper finds a significant increase in firm valuation, as
measured by Tobin's q, for companies that adopted the alternative of the Anglo-
American type committee system, even though comparative financial data show
little difference in performance after adoption. This finding is attributed to signal
sending, as companies that adopted this system signal a choice toward
transparency via monitoring by outsiders, suggesting a reduction of asymmetric
agency costs. The paper finds that the committee corporate governance system
produces higher corporate value than the traditional auditor governance. The
study also finds evidence that it is the signal provided by adoption of the credible
system, not the financial performance variables, that accounts for this difference.
Social implications - The data support the central idea that corporate governance
laws have consequences and encourages additional study of the effects of
corporate signaling and the consequences of increased shareholder orientation of
agents. Originality/value - This paper takes advantage of the unique opportunity
afforded by Japan's introduction of a dual system of corporate governance in
2003, when companies were offered a choice to adopt a new system of outside
directors, which is a shareholder-oriented committee system. It establishes that
firm value can be created by a signal that corporate governance provides

13. The Future of Private Equity in Europe - The Determinants

Across Countries :
Precup, Mihai. Romanian Journal of European Affairs;
Bucuresti15.4 (Dec 2015): 72-92
Abstract: This paper examines two aspects related to private equity investments
in Europe. First, we will present the evolution of private equity investments across
European countries during the last crisis. Second, the paper will analyse and
identify the main determinants of the European private equity market, using an
empirical panel analysis. The empirical model includes many of the determinants
already tested in previous studies (GDP growth, Market Capitalization, Research
and Development Expenditures, Interest rates, etc.) and also new variables such
as productivity and corruption index which we consider important factors in
explaining the evolution of private equity investments in Europe. The present
research paper follows the equilibrium model of private equity investments
(Gompers and Lerner 1998, Jeng and Wells 2000, Romain and de La Potteria 2004,
Flix 2007). We will use aggregated data from European private equity market
during 20002013, as well as macroeconomic data, in order to estimate a panel
data model with fixed and random effects. This paper will also run the Hausman
specification test in order to compare the consistency of fixed effects models and
random effects models. Our results confirm existent hypotheses regarding the
importance of some determinants on the evolution of private equity investments
in Europe. However, in the context of the last crisis new factors emerged as
important for the private equity market in Europe such as productivity or
corruption.

14. Public to private transactions, private equity and financial health in

the UK: an empirical analysis of the impact of going private

Weir, CharlieAuthor InformationView Profile; Jones, Peter; Wright,

Mike. Journal of Management & Governance; Dordrecht19.1 (2015):
91-112.

Abstract Using a hand collected data set of 138 buy-outs, this paper presents the
first analysis of the impact effects of public to private transactions (PTP) in the UK
during a period (1998-2004) in which PTPs became a significant part of the market
for corporate control. We find that for all PTPs there is a significant improvement
in financial health in the post deal years relative to the year before going private.
We also find that there is a significant improvement in the financial health of PTPs
relative to firms remaining public. The analysis of the individual elements of the z-
score shows that there are significant improvements in working capital and
liquidity post deal. Profitability, however, shows significant declines in a number
of the post deal years. We also find that both private equity (PE) and non PE-
backed deals produce improvements in financial health but that there is no
difference between the two types of deal. These outcomes provide some support
for the Jensen (Am Econ Rev 76:323-329, 1986 , Harv Bus Rev 67:61-74, 1989 )
arguments that going private creates an organizational structure that reduces
agency costs. However, they do suggest that the claims that the financial and
governance mechanisms imposed by PE providers will produce better outcomes
are strictly limited in the second wave of PTPs
15. Private equity, investment and financial constraints: firm-level
evidence for France and the United Kingdom

Engel, DirkAuthor InformationView Profile; Stiebale, Joel. Small

Business Economics; Dordrecht43.1 (Jun 2014): 197-212.

Abstract This paper analyses the effects of private equity firms on the
investments and financial constraints of their portfolio firms. We use dynamic
panel data techniques to account for unobserved firm heterogeneity and
endogeneity of private equity backed buyouts and expansion financing, and apply
our framework to a large panel data set of firms in the UK and France. In both
countries, we find that portfolio firms are characterized by higher investment
levels and fewer financial constraints after expansion financing. In the UK, private
equity backed buyouts outperform non-private equity backed firms in terms of
both indicators

16. Does Corporate Governance Matter? A Comparison of

Public-to-Private Transactions Pre and Post the Economic Crisis
Valenti, AlixAuthor InformationView Profile; Schneider,
MargueriteAuthor InformationView Profile. Journal of Managerial
Issues: JMI; Pittsburg26.2 (Summer 2014): 94-111,91.

Abstract This paper compares companies that went from publicly owned to
privately held status before and after the recession of 2008. Previous research
suggests that certain internal and external financial conditions favor migration to
private ownership. The majority of these studies focused on two time periods,
when there was a flurry of transactions taking companies private. With the
economic downturn starting in late 2007, the number of public-to-private (PTP)
transactions decreased substantially with the tightening of credit markets.
Nevertheless, over 100 PTP filings were made in the U.S. between 2008 and 2011,
suggesting that some companies continued to perceive the benefits of private
ownership. This study hypothesized that the corporate governance structure of
firms going private between 2008 and 2011 would be different than that of firms
going private before 2008, and in particular, that certain governance antecedents
in place for the later group would encourage the decision to go private despite
the decreased availability of debt financing. Board composition and institutional
ownership were found to be relevant in the decision to go private in the later
period. The findings suggest that corporate governance dynamics do matter and
shape the organizational variables that affect corporate restructuring under
different external conditions.

17 An Analysis of Trends of Venture Capital and Private Equity

Investments in India

Kumari, V R Jyotsna. Indian Journal of Economics and Business; New

Delhi12.1 (2013): n/a.

Abstract Over the last few years, India has become one of the heading
destinations for venture capital and private equity investments. The rapid growth
of GDP and liberalisation of the economy helped a lot for the development of
venture capital industry in India. In recent years, venture capital and private
equity investments have grown at a rapid pace. According to venture economic
data, during the period 1990 -99, Indias ranking was 25 out of 64 countries of the
world and various venture capital and private equity funds raised US $ 945.9
million for investments in India. This picture was brighter during the next decade
with Indias ranking score to 13 out of 90 countries and the funds raised $
16,685.5 million for investments in India. By the end of year 2009, Indias ranking
was 10 out of 77 countries of the world, and it rose to number three slot
worldwide in quantum of investments. A lot of variation is noticed in investment
trend during the last one decade. This paper makes an attempt to analyse the
investment trend of venture capital and private equity investments in India during
the last one decade.
18. Equity Market Liberalization, Credit Constraints and Income
Inequality

Sun, Puyang; Sen, SomnathAuthor InformationView Profile; Jin, Shujing.

Economics; Kiel7.12 (Mar 22, 2013): 0_1,1-28A.
Abstract This paper provides compelling evidence that equity market
liberalization, as the most efficient way to smooth financial market frictions such
as credit constraints, can alleviate persistent cross-dynastic income inequality by
promoting increased human capital accumulation. The authors examine the effect
of equity market liberalization on inequality by using data from 72 countries for
19802006. Their measured effect is robust to alternative measures of equity
market liberalization. Finally, The authors show that foreign equity flows benefit
initially lessactive stock markets more than the active ones, providing evidence
that foreign equity flows act as a substitute for domestic financial markets. This
finding emphasizes the possibility of reducing inequality and poverty through
equity market liberalization.

19. Co-movements of and Linkages between Asian Stock

Markets
Meric, IlhanAuthor InformationView Profile; Kimb, Joe H; Gong,
LinguoAuthor InformationView Profile; Meric, GulserAuthor
InformationView Profile. Business and Economics Research
Journal; Bursa3.1 (2012): 1-15.
Abstract: International marketers may be interested in stock market linkages for
various reasons: the co-movements of equity prices appear to reflect not only
market globalization but also the globalization of capital resources. The co-
movements can affect the balancing strategies of country market portfolios as
they indicate opportunities and risks. The strategic choice of alternative market
presence, such as market entry via export marketing or a full ownership and
marketing may need to match with the type of financial resources. The co-
movements of and the linkages between the U.S. stock market and Asian stock
markets have been studied extensively. However, little attention has been given
to the co-movements of Asian stock markets and the lead/lag linkages between
them. In this paper, we study this issue with the principal components analysis
(PCA) and Granger-causality (G-C) statistical techniques. We find that the
contemporaneous co-movements of Asian stock markets have become closer and
portfolio diversification benefits with Asian stock markets have diminished over
time during the January 1, 2001-January 1, 2011 period. We find that the
Singapore, Indian, and Japanese stock markets are the most influential stock
markets and the Philippine and South Korean stock markets are the least
influential stock markets in Asia. The Japanese, Singapore, and New Zealand stock
markets are the least affected stock markets and the

20 Financial market integration, stock markets and exchange

rate dynamics in Eastern Europe
Islami, Mevlud; Welfens, Paul J; J. International Economics and
Economic Policy; Heidelberg10.1 (Mar 2013): 47-79.
Abstract International capital flows in a system of flexible exchange rates will
affect stock market dynamics and stock market developments should affect
capital flows and the exchange rate respectively. In this analysis, four accession
countries have been considered in order to examine any potential links between
nominal stock market index and nominal exchange rate. For this purpose,
monthly data were used. The cointegration concept was employed for testing
long-term links and the VAR approach for short-term links. Finally, Granger
causality tests were employed for the determination of the exogenous and
endogenous variables. The results show that significant links exist between the
stock market index and the foreign exchange rate for three countries, where for
Poland, both long-term and short-term links exist. The other key aspect
considered in this analysis is the stock market integration in Eastern European
countries. Our analysis shows that the integration of the stock markets in Eastern
European countries seems to be rather week except for the Hungarian stock
market. This means that only the Hungarian stock market is integrated. A
standard regression analysis reveals that the Hungarian market exhibits a strong
co-movement with the benchmark market, i.e. the German stock market.
Furthermore, there is a clear-cut result with respect to the dynamic of stock
market synchronization. The degree of synchronization increased particularly in
the period 2005-2008

21 Long Memory Behavior in the Returns of Pakistan Stock

Market: ARFIMA-FIGARCH Models
Turkyilmaz, Serpil; Balibey, Mesut. International Journal of
Economics and Financial Issues; Mersin4.2 (2014): 400-410.
Abstract This study examines the weak-form market efficiency of Pakistan Stock
Market namely Karachi Stock Exchange for the period 2010-2013. The efficiency
of stock market has tested by using ARFIMA-FIGARCH models estimated under
different distribution assumptions as Normal, Student-t, Skewed Student- t and
GED distribution. According to findings of study, ARFIMA model do not support
long memory behaviour for the stock market returns. However, FIGARCH model
indicate that volatility of market returns has long memory. Moreover, in order to
test the feature of long memory in the return and volatility of the stock market
simultaneously, ARFIMA-FIGARCH models are estimated according to different
distributions simultaneously. Predictable structure of volatility of Pakistan Stock
Market display that this market is the weak-form market inefficiency.
Consequently, it is possible to say that technical analysis related to this stock
market may be valid. This implies that it is possible to predict future stock prices
and extra ordinary gains could be obtained trading in this market.

22 Study on Return and Volatility Spillover Effects among Stock, CDS,

and Foreign Exchange Markets in Korea *
Taly, I. Journal of East Asian Economic Integration; Seoul19.3 (Sep
2015): 275-322.
The key objective of this study is to investigate the return and volatility spillover
effects among stock market, credit default swap (CDS) market and foreign
exchange market for three countries: Korea, the US and Japan. Using the
trivariate VAR BEKK GARCH (1,1) model, the study finds that there are significant
return and volatility spillover effects between the Korean CDS market and the
Korean stock market. In addition, the return spillover effects from foreign
exchange markets and the US stock market to the Korean stock market, and the
volatility spillover effect from the Japanese stock market to the Korean stock
market are both significant

23 Cause and effect between FII trading behaviour and stock

market returns
Chandra, Abhijeet. Journal of Indian Business Research;
Bingley4.4 (2012): 286-300.
Abstract Purpose - The purpose of this paper is to examine the direction of
causality between foreign institutional investment (FII) trading volume and stock
market returns in the Indian context. There is evidence of uni-directional
causalities from stock returns to FII flows across various sample periods. The
paper attempts to establish whether net FII trading volume causes variations in
stock market returns or vice versa. Design/methodology/approach - Using daily
data on three different measures of FII trading volume as proxy for FII trading
behaviour and S&P CNX Nifty returns, Granger-causality approach is applied to
investigate the bi-directional causality between net FII trades and returns.
Findings - Bi-directional causality between net FII investment and Indian stock
market return is observed. In general, the FIIs seem to be chasing the Indian stock
market returns. It is found that FII trading behaviour resulting in heavy trading
volumes may cause variations in stock market returns only in the very short-term,
but afterwards, it is the stock market returns which cause changes in FII trading
behaviour. Research limitations/implications - Since foreign equity investors
monitor the movement of stock prices, and furthermore, the role of FIIs' exerting
impact on Indian stock markets tends to be growing, the authorities will have to
develop an environment where FIIs would maintain their positions with
confidence, thereby making the markets, as well as investments, more stable. This
research considered only stock market returns to test its relationship with three
measures of FII trading volume; more macroeconomic as well as microeconomic
variables may further be considered for the purpose. Originality/value - The paper
contributes some empirical evidence using three different measures of FII trading
volume as proxy of FII trading behaviour, and its bi-directional relationship with
Indian stock market returns.

24 An Influence of Global Energy Index and Global Material Index

Volatility in Asia Two Stock Markets: Empirical Study of Taiwan and
Singapore Markets

Horng, Wann-Jyi; Chen, Ching-Huei; Chang, Jui-Chen. International

Review of Management and Business Research; Peshawar5.4(Dec
2016): 1442-1449.
Abstract The empirical results show that the proposed model is appropriate in
evaluating the relationship of the Taiwan's and the Singapore's stock markets. The
empirical result also indicates that the Taiwan's and the Singapore's stock markets
is a positive relation. The average estimation value of correlation coefficient
equals to 0.5597, which implies that the two stock markets is synchronized
influence. Besides, the empirical result also shows that the Taiwan's and the
Singapore's stock markets have an asymmetrical effect. The volatility of the
Taiwan and the Singapore stock markets receives the influence of the positive and
negative values of the global energy index and the global material index volatility.
For examples, under the good news of global energy index and the global material
index markets, the empirical result shows that the variation risk of Taiwan stock
market will affect the variation risk of the Singapore stock market. And the
variation risk of the Singapore will also affect the variation risk of the Taiwan
stock market. Under the good news of the global energy index and the global
material index, the variation risk of the Taiwan's stock market is larger than the
variation risk of Singapore's stock market

25 Gender diversity in the governance of the Nigerian securities

market

Ayadi, Olusegun FelixAuthor InformationView Profile; Ojo, Ade

Thompson; Ayadi, Mary Femi; Adetula, Dorcas Titilayo. Corporate
Governance; Bradford15.5(2015): 734-746.
Abstract Purpose The purpose of the paper is to identify the key determinants
of stock market performance in Nigeria. More specifically, it is an attempt to
determine the effect of gender diversity in leadership roles on the performance of
the stock market in Nigeria. Design/methodology/approach The paper uses
annual data from 1980 through 2011 to model the development and performance
of the Nigerian stock market through a modified Calderon-Rossell approach.
Specifically, the leadership role of women in the governance of the stock market
is investigated. Robust regression approach is used to avoid complications
associated with the violations of the assumptions underlying the application of
ordinary least squares regression