Do different institutional investors possess different sets of information? The extent to which different institutional investors offer different information to individual/naive investors remains an interesting question in information poor emerging stock markets. Using a comprehensive data of...

Do shariah-compliant firms pay higher dividends than other firms? Using data from the MENA (Morocco, Egypt, Saudi Arabia, UAE, Jordan, Kuwait, and Bahrain) region, this paper shows that shariah-compliant firms not only have higher payout ratios but also have higher likelihood to pay dividends...

This paper examines the performance of foreign and local analysts’ stock recommendations in Indonesia, Malaysia, Thailand, and South Korea during the financial crisis of 1997–1998. Unlike most of the prior studies, our results provide strong evidence that neither of the two groups held a...

Purpose – The purpose of this paper is to document performance of analysts’ recommendations in the Middle East and North Africa (MENA) region during the period between 1999 and 2010. Design/methodology/approach –This paper uses post-announcement market-adjusted returns as a measure of...