The pass-through of the policy rates to bank lending rate is an important subject matter because it measures the effectiveness of monetary policy to control inflation or stabilize the economy. This study investigates the long-run interest rate pass-through of the money market rate to the bank...

The article attempts to examine the effect of mergers and acquisitions (M&As) on Malaysian banks’ revenue efficiency. The data gathered in this study are divided into two event windows: the pre-merger (1995–1996) and post-merger (2002–2009) periods. The sample selected for...

In this paper we investigate how pyramid structure, separating cash flow rights and control rights, allows ultimate owners to control the company's resources for the creation of private benefits and to avoid punishment for such conduct. Empirical tests are conducted using three-stage least...

Purpose – The purpose of this paper is to disentangle the driving force of pyramidal firms' capital structure from nine East Asian economies. Design/methodology/approach – To disentangle the driving force, this paper develops a new theoretical framework for the pyramidal firms'. Using panel...

The objective of this empirical study is to determine if multinational corporations have statistically different financial characteristics that can be used to differentiate the multinational corporations from domestic corporations. We find that multinational corporations have higher levels for...

Miller and Modigliani (1961) show the circumstances under which dividend policy does not affect the value of the firm. The debate over the impact of dividend policy on the value of the firm continues to this day. This study shows that an investor can create any pattern of dividends desired...