This paper examines the effects of determinants of capital structure on firm's equity market value. The underlying assumption is that when a firm changes its capital structure, it actually changes the relative position and the market values of its securities' holders. This is the signaling...

This paper examines the effects of determinants of capital structure on firm's equity market value. The underlying assumption is that when a firm changes its capital structure, it actually changes the relative position and the market values of its securities' holders. This is the signaling...

This study examines the informativeness of fundamental financial information to three levels of market-to-book (MB) ratio: high MB firms, medium MB firms, and low MB firms. In general, the results indicate that the financial ratios (as co-integrated financial information) are relatively quite...

This paper investigates the effect of the introduction of day trading on the Egyptian stock market. We applied a GARCH (1, 1)–GED model on daily returns and volumes of 41 companies listed in the Egyptian Stock market for the period from 2004 to 2008. The results suggest that day trading...

Literature on the demutualization of stock exchanges has focused on social welfare and efficiency issues, whereas there is scarce empirical literature referring to the impact of a demutualization on the exchange financial performance. In addition, little is known about the factors that influence...

Based on asset pricing theory, reward/risk ratios vary positively with maturity of Treasury securities. We study the effect of increasing Treasury bonds' maturity on ex post and ex ante returns and risks in developed and emerging countries. As maturity increases, we show that ex post and ex ante...