A competing risks hazard model is employed to examine the reasons for Hong Kong's Growth Enterprise Market (GEM) companies transferring to the Main Board (MB) in the period 2000–2012. In our sample during the period 21 companies or 15% of the original stock moved up to the MB. The modal life...

I investigate the effectiveness of two competing regulatory regimes and the effect of switching from strict price limits to circuit breakers on volatility spillover, and also on trading interference hypotheses. I find that switching to the circuit breakers' regime increases volatility and...

Islamic banks play a significant role in the financial sector in a number of emerging markets especially countries with a large Muslim population. The objectives of Islamic banks are fundamentally different from those of conventional banks. While conventional banks seek to maximize their...

We use the system GMM to explore both cross sectional variations and time-series effects within the post-event period for losers and winners portfolios. Some of these effects are not observable, but ignoring them lays the estimation open to bias from concealed heterogeneity amongst companies and...

I investigate the effects of imposing different bands of price limits on stock returns and volatility in the Egyptian (EGX), Thai (SET) and Korean (KRX) stock exchanges. In addition, the paper examines whether the switch from narrow price limits (NPL) to wider price limits (WPL) structurally...

A large literature has adumbrated the value-added role of private equity (PE) firms in backing buyouts. The present paper examines a different and hitherto unexplored issue: the role of financial restructuring in PE buyouts in the UK both before and after the financial crash of 2007. The UK...

In a previous paper, we utilized panel data methods to explore both cross-sectional variations and time series effects within the post-event period for losers' stocks. Some of these effects are not observable, but ignoring them lays the estimation open to bias from concealed heterogeneity...

The paper uses a new, hand-collected data set of 93 private equity (PE)-backed buyouts and 96 PLCs that became financially distressed over the period 1995--2008 to investigate empirically whether PE-owned companies (buyouts) in financial distress (Receivership/Administration) have better...

Stock market efficiency is associated with news being spread immediately in the market. The literature, however, offers two competing theories to explain this phenomenon. One theory, the mixture of distributions hypothesis (MDH) claims immediate dissemination, while the other, the sequential...