In this paper, we examine the differences in information asymmetry and financing patterns and a generalized version of the trade-off theory across countries with different institutional environments. We find that firms in Civil law countries have higher information asymmetry, rely more on...

Most of the previous studies on the firms' debt-equity choice utilize the standard single equation Probit (or logit) model as if firms face a single dichotomous decision to issue debt or equity, but not both. In this study, we examine the factors affecting the choice between internal and...

We examine the role of venture capital backing on informational externalities generated by IPO firms. Theoretical models predict that going public firms generate positive externalities creating a spillover effect for other firms to go public. In this paper, we posit that venture backed IPOs...

This paper investigates the question of market efficiency in a sample of thirty-four emerging markets with different legal systems. We use both dollar and local currency returns to examine whether exchange rate effects can improve our understanding of the information flows in these capital...

We analyze the impact of firm's asset uniqueness and its growth opportunities on the leasing decisions of U.S. startups. To test our hypotheses, we use a unique dataset provided by the Kauffman Foundation. Our results show that startups in the high-technology sector have a lower propensity to...

This paper finds that dividend signaling hypothesis is able to explain the phenomenon of assets concentration in short and medium investments in Islamic Interest-Free banking (IIFBs). In this paper a dividend signaling model framework has been introduced, where in the process of maintaining a...

This paper finds that the dividend signaling hypothesis is able to explain the phenomenon of asset concentration in short- and medium-term investments in the Islamic interest-free banking system. To maintain a stable dividend payout, managers of Islamic banks will prefer to invest in instruments...