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...

With globalisation financial development has spawned across the world creating a two-tiered funds market, developed and emerging. This paper is about discriminating the characteristics, and identifying the variables that would help an analyst to distinguish a capital market to be termed a...

This paper reports the performance of the banking sectors of four crisis-hit East Asian economies, under IMF-restructuring programs, over the pre- and post-restructuring periods. Results from the widely used structural analysis model indicate that the four banking sectors have become moderately...