This paper analyzes the impact of capital on profitability and risk for Islamic and conventional Gulf Cooperation Council (GCC) banks, through the structure-conduct-performance, moral hazard, and regulatory hypotheses. We apply the generalized method of moments (GMM) technique for dynamic...

We analyze the reactions of the returns of four European stock markets to sovereign credit rating changes by Fitch, Moody’s, and Standard and Poor’s (S&P) during the period from June 2008 to June 2012 using panel regression equations. We find that (i) upgrades and downgrades affect both own...

The aim of this paper is to focus on whether or not an interaction relationship (or dependence) exists between the oil price and fundamental macroeconomic variables (that is industrial production, a proxy of macroeconomic activity, and inflation, measured by wholesale price index, Trade deficit,...

In this paper, we analyze whether a monetary policy based on three main variables (inflation, money supply, and output gap) has a nonlinear impact on real estate investment trust (REIT) markets. In addition, we extend our analysis to examine whether these monetary policy components impact the...

This study examines the technical efficiency of the Tunisian banking system in pre, during and post-financial liberalization, starting in the early of 1980s. As well we propose a benchmarking between Tunisian and OECD countries banking industry. A non-parametric method of Data Envelopment...

In this paper, we study the association between firms' specific characteristics and performance for a sample of 320 American firms using a governance efficiency index, calculated by the Stochastic Frontier Analysis.The use of a latent classes in the specification of the model, allowed to detect...

This paper examines the sensitivity of the governance mechanisms to the financial information quality in an emerging context which is the Tunisian market. It focuses mainly on the characteristics of the board of directors and the ownership structure in order to determine the principal governance...

This paper examines the association between bid-ask spread, a market based measure of information asymmetry and auditor reputation. Based on a sample of 42 firms over a period from 2000 to 2006, we find that information asymmetry is negatively related to the employment of Big auditor after...