This paper examines the effect of the reduction in tick size on ex-dividend day stock price behavior taking advantage of a unique data where there are no taxes on dividends and capital gains and the tick size is fixed for all traded securities. These data allow us to differentiate among...

We investigate the effect of a lack of an automated limit order adjustment mechanism on ex-dividend day stock price behavior in a unique environment in which there are no taxes on dividends and capital gains. The absence of taxes in Oman allows us to test the effect of the lack of a limit order...

This paper examines the effect of a reduction in tick size on ex-dividend day stock price behavior by taking advantage of unique data for which there are no taxes on dividends and capital gains and tick size is fixed for all traded securities. These data allow us to differentiate among competing...

We investigate shareholder wealth effects of stock dividends using a unique dataset from Oman in which many market frictions that are used to explain the stock dividend announcement effect are either absent or limited. We find a positive stock market reaction to stock dividend distributions. We...

This study investigates the association between existence of a board investment committee and that committee's characteristics and corporate investment efficiency. Using a sample of industrial firms from six Gulf Cooperation Council (GCC) countries over the 2005–2013 period, we find that the...

Board of directors is one of the internal governance mechanisms that are intended to ensure that the interests of shareholders and managers are closely aligned. Among the most significant governance issues currently faced by the modern corporation are those relating to diversity. In this paper,...

We investigate the association between the existence of the risk committee and the implied cost of equity capital in a unique institutional setting where the formation of the board risk committee as part of the risk governance mechanism is not mandatory in the Gulf Cooperation Council (GCC)...

We investigate the association between voluntary formation of a board investment committee (IC) and corporate cash holdings firms over the life cycle for a large sample of Gulf Cooperation Council (GCC) firms over the 2005–2013 period. We find that IC increases the corporate cash holdings in...

We investigate the effect of a lack of an automated limit order adjustment mechanism on ex-dividend day stock price behavior in a unique environment in which there are no taxes on dividends and capital gains. We find that overnight drop in the ask price is smaller than the overnight drop in the...

We investigate the possible differences in the information content of stock dividends between firms that distribute stock dividends frequently (frequent distributors) and firms that distribute stock dividends infrequently (infrequent distributors) using a unique dataset from Oman where the...