Capital market investors’ capability to forecast the central bank interest rate is critical, since the latter serves as an anchor for many economic transactions. Financial-economics literature shows that the short-term forward rate is a crucial factor considered by investors in the expectation...

We investigate 218 Related Party Transactions (RPTs) in Israel, an economy characterized by a high percentage of closely held firms, and identify a non-linear inverted U connection between the value effect of RPT and the level of firm ownership concentration. This non-linear connection is...

We examine 54 large transactions in Israel - a concentrated ownership economy, and estimate the private benefits of control implied in the block price via an elaborated Barclay and Holderness (1989) methodology. Cross-sectional regressions indicate that private benefits, as a proportion of...