This paper examines the impact of cultural distance on the underpricing of initial public offerings issued by foreign firms in the United States (foreign IPOs). Using a sample of 503 foreign IPOs from 27 countries for the 1980–2012 period, we find that greater cultural differences between U.S....

We examine the association between CEO compensation and corporate social responsibility (CSR). We find that CEO compensation is negatively associated with CSR investment. We find CEO compensation is positively associated with normal CSR, suggesting that CEO is rewarded for investing in optimal...

In this paper, we examine the forecasting performance of the Value-at-Risk (VaR) models in the MENA equity markets. We use the Asymmetric Power ARCH model to analyze four MENA emerging markets, namely Egypt, Jordan, Morocco, and Turkey. While most empirical studies focus only on holding a long...

We draw on a comprehensive set of data of all registered firms in Thailand to examine whether firm size affects the relation between leverage and operating performance during the global financial crisis of 2007–2009. From a data set of 496,430 firm-year observations of a sample of 170,013...

This paper is motivated by the heightened interest in investing in Islamic equities. The paper is the first attempt at analysing the risk-return characteristics of Islamic indices at different timescales by applying a relatively new approach in finance known as wavelet analysis. We analyze the...