We examine the ex-dividend day behaviour in a unique setting where (1) there are neither taxes on dividends nor on capital gains, (2) stock prices have been decimalized, (3) dividends are distributed annually, and (4) we have data that enable us to examine bid-ask bounce effects. In this...

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...

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...

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,...

This study examines whether the presence of ruling family members on boards of directors influences the extent and the quality of risk reporting. Based on a sample of publicly listed financial firms of Gulf Cooperation Council countries between 2007 and 2011, our regression results show that...

In this paper, we investigate the association between outside board directorships and family ownership concentration. Using a sample of 1091 firm-year observations of non-financial publicly listed firms from Gulf Cooperation Countries (GCC) during the 2005 to 2013 period, we find a positive...

We examine the impact of political connections of ruling (royal) family on investment efficiency in a unique setting. We hypothesize that political and economic ultimate power of ruler and their family influences the firm's investment efficiency. Their cultural and political capabilities and...

We examine whether the voluntary formation of a Risk Committee (RC) compromises the effectiveness of other monitoring duties carried out by the board members. We argue that adding more monitoring committees increases the board's internal busyness, which reduces the effectiveness of monitoring by...

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 association between joint audit and cost of debt for a sample of non-financial, publicly listed firms from the Gulf Cooperation Council (GCC) countries. Although the conventional wisdom suggests that “two heads are better than one”, empirical evidence on the beneficial...