This paper uses data on private firms in 24 developing countries to show that, during the COVID-19 pandemic, firms with greater obstacles in accessing an educated workforce have lower performance than other firms. The findings are robust to the comprehensive inclusion of relevant control...

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...

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...