Repeated turmoil in equity indices in developed and emerging markets puts pressures on market participants to deal with the intense volatility of returns. After examining the normality of daily returns in Beirut Stock Exchange (BSE) from June 1999 to May 2011 with Jarque-Berra test (1980), we...

This study seeks to trace dimensions through which corporate governance characteristics influence the financial performance of family owned businesses. Between the periods of 2009-2011, we examined 160 Lebanese family owned firms that were equally divided between a control and an experimental...

This article applies a multivariate model to uncover the dynamic mean and volatility interdependence across the markets of Morocco, Tunisia, Egypt, Lebanon, Jordan, Kuwait, Bahrain, Qatar, United Arabic Emirates (UAE), Saudi Arabia and Oman from June 2005 to January 2012. Results show that the...

Unlike previous research which had focused solely on principal-agent conflicts in the Middle East, this paper enriches corporate governance literature of privately-held family firms in an emerging economy with inadequate legislative and enforcement framework, by examining conflicts between...

Purpose: The purpose of this paper is to investigate how corporate cash holdings changes across firm life cycle and how firms undergo heterogeneous dynamic cash adjustment as they advance from one stage to the next stage. Design/methodology/approach: This study uses an extensive data set of...

Purpose: The purpose of this paper is to examine the impact of corporate governance, investor sentiment and financial liberalization on downside systematic risk and the interplay of socio-political turbulence on this relationship through static and dynamic panel estimation models....