This paper investigates the impact of financial liberalization on the adjustment of debt ratios in 12 emerging markets using firm-level data from 1991 to 2004. The results support the central hypothesis of this paper that adjustment costs are important in explaining firms’ adjustment toward...

This paper seeks to address the question of whether local macroeconomic variables have any influence on the numbers of IPOs in an emerging market, Malaysia over the period of 1990 to 2008. The evidence of a significant negative relationship between interest rate and the numbers of IPOs, and a...

Purpose – The purpose of this paper is to investigate the market risk disclosure practices among Malaysian listed firms. Specifically, it aims to examine the level of compliance with FRS132: Financial Instruments – Disclosure and Presentation for financial periods beginning or after 2006....

This paper investigates variation in the cost of equity capital for the Southeast Asian countries using firm-level data over the period of 1990-2004. It is found that decreases in the firm-level cost of equity capital have been associated with stock market liberalization and securities market...

This paper examines the impact of macroeconomic factors on the stock and bond market activities in two Asian countries. We examine the influence of interest rate changes, expected inflation rate, and stock market returns on aggregate stock and bond issuance in Malaysia and Korea. Using vector...

This paper investigates the impact of the Minority Shareholder Watchdog Group (MSWG) activism on the performance of targeted firms in Malaysia. We find that MSWG-targeted firms earn statistically significantly higher stock returns than non-targeted firms in the long run. The results of various...

Purpose – The purpose of this paper is to explore the shortcomings in the compliance of the full-fledged Islamic banks with the Bank Negara Malaysia (BNM) disclosure guidelines related to the profit sharing investment accounts (PSIAs). Design/methodology/approach – This study uses interviews...

Purpose – The purpose of this paper is to investigate the impact of shareholder activism led by the Minority Shareholder Watchdog Group (MSWG) on the performance of family-controlled firms in Malaysia from 2005 to 2009. Design/methodology/approach – The paper uses event study methodology to...

Purpose – This article seeks to explain and empirically test the relationship between managerial social capital and hedge fund performance. Design/methodology/approach – This article uses a capital asset pricing model (CAPM)-style five factor model to estimate excess returns for the top 25...

Purpose – This paper aims to investigate the impact of the product market competition, regulations on the dividend policies of the listed banks, over the period 1995-2005 in Malaysia. Design/methodology/approach – An ordered probit modelling technique and target adjustment model is used....