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Author
Ghimire Binam (Newcastle Business School, U.K.), Gautam Rishi (Tribhuvan University, Nepal), Karki Dipesh (Newcastle Business School, U.K.), Sharma Satish (Newcastle Business School, U.K.)
Title
Banks, Non-bank Companies and Stock Exchange : Do we Know the Relationship?
Source
Economics and Business Review, 2015, vol. 1 (15), nr 4, s. 25-45, rys., tab., bibliogr. 24 poz.
Keyword
Banki, Giełda, Kointegracja, Metody samowsporne
Banks, Stock exchange, Cointegration, Bootstrap
Note
summ.
Abstract
This paper investigates the role played by the banking sector in founding, sustaining and developing stock exchange markets. The paper has constructed data on market capitalisation separately for banks and non-bank companies. We apply cointegration techniques developed by Engle and Granger [1987] and Johansen [1988] and we bootstrap the variables to examine the nature of relationship between the banks and stock markets. We found that banks have played an important role in the development of stock exchanges. Further, the empirical analysis made amongst ten developed and developing exchanges suggests a listing of non-bank companies important for development of stock markets. These findings have also been verified by analysing the data of an exchange not included in the test.(original abstract)
Accessibility
The Main Library of the Cracow University of Economics
The Library of Warsaw School of Economics
The Library of University of Economics in Katowice
The Main Library of Poznań University of Economics and Business
The Main Library of the Wroclaw University of Economics
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Bibliography
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ISSN
2392-1641
Language
eng
URI / DOI
http://dx.doi.org/10.18559/ebr.2015.4.3
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