Using content analysis we evaluate the determinants of corporate risk disclosure in a sample of 424 publicly traded firms in the Gulf Cooperation Council countries. We hypothesize that corporate risk disclosure will be lower in Islamic financial institutions when compared to conventional...

This study is motivated by highly concentrated ownership, the relatively large government stake in listed firms in the GCC (Gulf Cooperative Council) region, and the rapid stock market development and developing investor protection environment. The results point to heterogeneity in governance...

We study a sample of 6,503 UK acquisitions completed between 1985 and 2004 and control for previous deals similarities. Returns for frequent acquirers decrease constantly but they remain positive through high order deals. We do not detect an improving pattern of returns but, at best, a stable...

We analyze institutional ownership in listed ADRs over the last two decades and investigate new determinants of institutional ownership in these ADRs. Using a unique dataset, we find that institutional investors invest more in ADRs without underlying stocks listed in the home market (i.e.,...

This paper explores corporate risk disclosure (CRD) in the Gulf Cooperative Council (GCC) countries and its relation to different firm's characteristics, level of corporate governance and country of origin. Employing content analysis we searched the 2008 annual reports of 424 GCC publicly listed...

We explore the impact of cross-listing on the information environment of publicly traded companies. Compared to non-cross-listed companies, we find that cross-listed firms already have higher levels of information dissemination, as measured by the number of analyst, which increase after...

This paper explores whether national culture explains the deviation from the optimal investment, as measured by under- and over-investment, and the impact of this deviation across cultural dimensions on shareholders’ wealth. Using an international sample of firms listed in 38 countries, we...

This paper investigates the market reaction to banks' overseas listing, employing a sample of 68 foreign banks from 30 countries, which have cross-listed in the US between 1983 and 2006. We find that cross-listed banks experience market revaluation when they cross-list on the US market via ADR...