We examine changes in firms' dividend payouts following an exogenous shock to the information asymmetry problem between managers and investors. Agency theories predict a decrease in dividend payments to the extent that improved public information lowers managers' need to convey their commitment...

We analyse a uniquely constructed data set of share repurchases in France, Germany and the UK. We find significant differences across the three countries in the popularity of this strategy, in the market reaction and its determinants, and in the likelihood of subsequent share repurchase...

Literature suggests that dividend has no impact on shareholders value in the absence of taxes and market imperfections. Hence, companies invest excess funds in positive net present value projects instead of paying out as dividends. Literature also suggests that market valuation of stocks depends...

Volume-based liquidity ratios suffer from potential measurement bias due to share restriction and may misrepresent actual liquidity. In this paper, we develop a modified metric, the free-float liquidity ratio. We argue that this measure is better suited to estimate liquidity in the presence of...

We examine changes in firms' dividend payouts following an exogenous shock to the information asymmetry problem between managers and investors. Agency theories predict a decrease in dividend payments to the extent that improved public information lowers managers' need to convey their commitment...

This research paper aims to state possible causes of high return volatility and stock markets' crises in developed economies, using a sample of seven stock developed markets, covering a period of thirty-six months (1998 to 2000). In order to determine which are the most predicting variables that...

We examine how shareholder-level taxes affect the contemporaneous pricing of foreign firms' U.S. cross-listed and underlying home-country securities surrounding the 1997 reduction in U.S. capital gains tax rates. Consistent with tax capitalization, we find that the performance of cross-listed...

We examine how shareholder-level taxes affect the contemporaneous pricing of foreign firms' U.S. cross-listed and underlying home-country securities surrounding the 1997 reduction in U.S. capital gains tax rates. Consistent with tax capitalization, we find that the performance of cross-listed...

The world stock markets are moving so rapidly towards globalization, and integration of local financial markets to international financial systems and institutions through cross borders transactions. The globalization phenomenon may be a blessing and enhance national economies, or may increase...

This article provides an insightful overview of the challenges encountered by the insurance industry when applying the requirements of IFRS 17 to reinsurance contracts. Through the metaphor "Fitting a Square Peg in a Round Hole," the author effectively captures the complexities and difficulties...