...M.I. Muller-Kahle; Liu Wang; Jun Wu Purpose – With boards of directors playing both monitoring and guidance roles, the purpose of this paper is to examine the impact of board structure on firm value in large US and UK firms using the lenses of agency and resource dependence theories. Design...

...Dimitrios Tsoukalas This study examines predicability and volatility in three major stock markets, (the US, UK, and Japan) using the Vector Autoregressive Approach and the Multivariate Autoregressive Conditional Heteroskedastic‐in‐mean (ARCH‐M) approach. We find that in the three markets: a) stock...

.... Concludes that stock returns are time varying and the conditional variance is state‐dependent, and that markets vary widely in frequency of regime shifts and persistence. © MCB UP Limited 1998 Germany Japan Share prices Stock markets UK USA ...