... of the Portugal, Ireland, Italy, Greece and Spain (PIIGS economies) markets. This paper also seeks to investigate that “If the time series is not martingale, then what else?” Design/methodology/approach Monte Carlo experiments have been undertaken to test the small sample properties of automatic variance...

... costs. Inefficiencies were found to be inversely correlated with capital strength and positively related to the level of non‐performing loans. Weill (2004) in his paper measured the cost efficiency of banks from five European countries (France, Germany, Italy, Spain and Switzerland) with three...

... market, Friederich et al. (2002) for the London stock exchange and Biesta et al. (2003) for the Ducth stock market show significant post transaction excess returns. With regards to Italy, we have no knowledge of any direct tests aimed at measuring the information content of insiders...