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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.)
Banks, Non-bank Companies and Stock Exchange : Do we Know the Relationship?
Economics and Business Review, 2015, vol. 1 (15), nr 4, s. 25-45, rys., tab., bibliogr. 24 poz.
Słowa kluczowe
Banki, Giełda, Kointegracja, Metody samowsporne
Banks, Stock exchange, Cointegration, Bootstrap
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)
Dostępne w
Biblioteka Główna Uniwersytetu Ekonomicznego w Krakowie
Biblioteka Szkoły Głównej Handlowej w Warszawie
Biblioteka Główna Uniwersytetu Ekonomicznego w Katowicach
Biblioteka Główna Uniwersytetu Ekonomicznego w Poznaniu
Biblioteka Główna Uniwersytetu Ekonomicznego we Wrocławiu
Pełny tekst
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