Our article investigates the stock market reaction of the issuance of guidelines by the Office of Inspector General (OIG) to prod biotechnology manufacturers to strengthen self-regulation so as to efficiently monitor adherence to applicable statutes, regulations and program requirements in their...

Purpose – The purpose of this paper is to investigate the wealth effects of the issuance of guidelines by the Office of Inspector General (OIG) to encourage pharmaceutical manufacturers to use internal controls or self‐regulation “to efficiently monitor adherence to applicable statutes,...

On 2 April 2009 the Food and Drug Administration (FDA) released warning letters to 14 major pharmaceutical companies about search engine advertising, effectively curtailing an aspect of internet marketing by pharmaceutical industry. These warning letters were posted to the public on 3 April...

We examine comparative financial performance of business groups in Pakistan employing samples of firms listed on the Karachi Stock Exchange. Our descriptive results show that group firms are larger in size and have higher operating profits. Group firms also exhibit lower sales growth variability...

We use the chain of events from the fall of the Berlin Wall to the reunification of Germany to examine how capital market participants respond to momentous and unprecedented events. Our examination measures the impact of these events on analysts’ forecasts for the earnings of West German...