Emerging markets have been the fastest growing share markets in the past decade. There are 58 emerging markets. Yet, little is know about their efficiency compared to the vast body of results on efficiency of the developed markets. Little is also known of the way in de-regulation of emerging...

This study reports new findings on the behavior of index futures (FKLI: code name of Kuala Lumpur Index Futures contract) prices and also records the effect of a major financial crisis on the prices. Since the inception of trading in 1995, the FKLI has been selling at a discount, which gradually...

There is a continuing debate on whether or not ownership changes accompanying privatization of state-owned enterprises (SOEs) lead to performance improvements of such firms. Since profitability measures alone are possibly inappropriate for SOEs, we address this very significant current question...

Purpose – The purpose of this paper is to develop a methodology to study profit vs non-profit seeking firms usefully to compare corporate performance. It aims to apply the methodology to measure if state vs non-state firms with different objectives are comparable in performance. If relevant,...

Extract: The study of emergent capital markets has become an established field of financial research today. In fact there are few research institutes dedicated to this task in the developed countries. This is only natural as the number of emerging capital markets has about doubled in the last...

The availability of a unique data set of financially distressed firms enabled this study to apply the dynamic capital structure adjustment model to a study of capital structure. In addition, the factors driving capital structure adjustment of financially distressed and of healthy firms were...