This paper investigates the relationship between stock prices and main macroeconomic variables (i.e. oil prices, short-term interest rate and domestic credit) that are believed to affect stock prices in the context of the Gulf Cooperation Council (GCC) markets. For this purpose, this paper...

Capital structure plays a significant role in the determination of the value of the firm. The literature is replete with studies that relate to mature capitalist economies in the western world. When the models are applied to less-structured countries of the Middle East, one would question...

Using cross-sectional panel data over eleven years (2009-2019), or 1001 firm-year observations, this study examines the relationship between capital structure and firm performance of service sector firms from Australian stock market. Unlike other studies, in this study directional causalities of...

Using a standard partial adjustment model and US firms, we study the relationship between managers' failure to achieve target labor productivity and their tendency to manage earnings. To overcome the endogeneity problem, we employ an instrumental variable technique based on negative investment...

Understanding the risky nature of the airline industry has received attention in the tourism literature from separate angles. Although the systematic risk of the airline industry has been examined before, idiosyncratic risk has largely been ignored. This study fills this gap in the tourism...

In this research, we investigate the valuation effect on acquiring banks during different window of events. The research is conducted on the US and the European banks mergers and acquisition during the period of 2004 through 2010 with special focus on bank mergers during the financial crisis of...

This paper examines the ability of equity open interests from options markets to forecast underlying stock price for the maturity date and to examine if the forecast prices can be used as a guide to design trading rules. GMM estimation method is used on a set of widely held stocks from US...

In this paper, we use daily closing data on CBOE options of 30 stocks during February through July of 1999 to investigate whether options open interest contains information that can be used for trading purposes. Individual stock price at option maturity is first predicted based on the...

This paper examines the existence of explosive behaviors of public debt in the USA. Using the Supremum Augmented Dickey-Fuller (SADF) and the Generalized SADF tests on data ranging from 1966 to 2018, we show that there is evidence of the beginning and end of several public debt explosiveness in...