The objective of this study is to see how the signaling hypothesis manifests itself in a small market, such as KSA, characterized by concentrated family-ownerships, non-taxability of dividends, and high degree of information asymmetry. In this context, we hypothesize that there is a positive...

This study examines the implications of changes in dividends in the market of Kingdom of Saudi Arabia (KSA). First, the research analyzes changes in dividends within the context of signaling hypothesis. Second, this study examines another aspect of signaling hypothesis by testing the abilities...

In this article, I use a unique dataset consisting of listed Indian firms that have been indicted for economic malpractice/default or have been non-compliant with laws/ regulations/ guidelines to estimate the stock price impact of regulatory actions against corporate irregularities. The sample...

Dividend announcement is one of the important corporate action and this action influence shareholders wealth. Investors expect to invest before the dividend date to come, it may lead to positive abnormal return in that stock and also if investors not happy with amount of dividend, it may also...

Taking advantage of the institutional difference in capture between local and non-local media in China, we examine the association between media capture and post-earnings announcement drift (PEAD). Using both portfolio and regression analyses, we find that, for the same firms, non-local media...

This paper investigates the market reaction to recent legislative and regulatory actions pertaining to corporate governance. The managerial power view of governance suggests that executive pay, the existing process of proxy access, and various governance provisions (e.g., staggered boards and...

The investment decision is influenced by many factors of which one such factor is return. The shareholders may get return in the form dividend which affects the share prices. The behavior of stock prices is unpredictable as price movement for different activities will move in different ways. The...

We study the information content of options trading volume for future stock returns predictability around analysts’ recommendation announcements. We exploit the directionality of the options trading volume measure from the ISE database to examine which category of options trading volume is...

We analyze the behavior of an array of financial assets around European Central Bank (ECB) monetary policy decisions. We document that European and U.S. equities accumulate sizeable excess returns in the week ahead of an announcement. Pre-ECB announcement returns are stronger from the...

A later version of this paper has been published in the Journal of Financial Stability (Volume 50, October 2020, Article Number 100776).When trading volumes are high, bitcoin futures on the Chicago Mercantile Exchange (CME) and -- until recently -- the Chicago Board Options Exchange (CBOE) lead...