We examine the relationship between corporate misconduct and pharmaceutical firm innovation and performance. Pharmaceutical firms obtain significantly fewer new product approvals by the U.S. Food and Drug Administration (FDA) following corporate regulatory violations, lawsuits, and SEC...

We examine the relationship between financial firm corporate lobbying, shareholder-based litigation outcomes, and firm value. We show that political lobbying lowers federal class action securities litigation likelihood for public financial institutions. Secondly, lobbying firms experience a...

Muslim entrepreneurs are compelled by religious laws to abstain from engaging in certain economic and financing activities, such as those involving gambling, usury, and speculation. Western entrepreneurs may choose to forgo certain business opportunities due to religious or moral laws as well;...

We compare the performance of Islamic and conventional stock returns in Saudi Arabia in order to determine whether the Saudi market exhibits characteristics that are consistent with segmented markets and investor recognition effects. We sample the daily stock returns of all Saudi firms from...

Purpose – Central to the Islamic scholars' argument that religious and cultural norms in Muslim countries may drive preference of Islamic microfinance over conventional microfinance, we analyze if performance measures and their factors for Microfinance Institutions (hereafter referred as MFIs)...

We extend the work of Bernanke and Kuttner (2005) by examining the impact of monetary shocks and policy tools on aggregate stock and bond returns as well as the stock returns of financial institutions during the recent period of Quantitative Easing (QE) in the U.S. Specially, we test for the...

Community banking plays an important role in financial intermediation in the United States, especially in the context of providing financing in smaller, rural markets and for small businesses. However, recent trends in regulation, the economic environment, and industry practices have led to a...