Asia Pacific Financial Markets in Comparative Perspective: Issues and Implications for the 21st Century(86 Contemporary Studies in Economic and Financial Analysis)

About the Book

The goal of the volume is to provide some background on the various financial market segments of the Asian Pacific region. An understanding of institutional detail (size and scope) of the relevant markets affords a view that lends or detracts from the credibility of intermarket comparisons. An exposure and understanding of institutional detail supplies information that may bear on the statistical results of the empirical analysis. The vital roles played by capital markets of pricing capital, issuing new shares, providing a liquidity-creating secondary feature, serving as a vehicle for asset transfer, and providing a linkage to international capital markets are as important to emerging markets as to developed countries.

Table of Contents:
APFM: Overview (J.A. Batten, T.A. Fetherston). Currency analysis The role of the Japanese Yen in Asian exchange rate determination (C. Kearney, C. Muckley). Does statistical dependence matter? Evidence from the USD/AUD (C. Ellis). Regional integration. International financial integration: An empirical investigation into Asian equity markets pre and post 1997 Asian financial crisis (X. Vinh Vo, K.J. Daly). Financial links and contagion in the 1997 Asian currency crisis: An empirical examination (B.N. Jeon). Tangible and intangible non-current assets: Evidence of information content during economic crisis period (Z.A. Shukor, H.M. Nor, M.K. Ibrahim, J. Kaur). Return and volatility spillovers from developed to emerging capital markets: The case of south Asia (Y.Wang, A. Gunasekarage, D.M. Power). A note on the he equilibrium relationships between issuers in the Asian Pacific region (J.A. Batten, T. Fetherston, P. Hoontrakul). Investment performance Country and sector effects in Asia pacific markets (J. Chen, Y. Zhang, B.R. Marshall). The US, European and Asian investors in the Japanese Stock Market (A. Kamesaka). The options holding concentration problem - evidence from Australian listed corporations (T.M. Carlin, G. Ford). Loss aversion asset pricing model performance: Empirical evidence from five Pacific-Basin countries (D. Ng, M. Sadeghi). A special and undervalued stock market in Taiwan (Y.-C. Tsao, W.-K. Chen). Institutions, markets and policy. The derivation, development, and effects of financial reform in ten countries of Eastern Asia: Comparison between pre-and-post Asia financial crisis (S.-L. Lin). Developing a financial derivatives market in China (J. Chi, M. Young). Encouraging growth in Asia with multi-pillar financial systems (M. Narayanamurti, J.A. Batten). A perspective on Japan's corporate bond market (P.G. Szilagyi). Corporate governance and social responsibility: Combating money laundering in the Asia Pacific region (B. Buchanan). A test of the response to a monetary policy regime change in New Zealand (D. Tripe, J. McDermott, B. Petro). The prospects of a regional monetary institution for the Asia Pacific (J.W. Iu).