A well-established view that exists is that firms in a developed financial market take advantage of market valuations when making financial decisions. Whether firms in developing financial markets follow a similar behavior is not clear. Therefore, this research extends the prior literature by...

In this paper, we investigate the contribution of behavioural characteristics to the financial literacy of UAE residents after controlling for demographic factors. Specifically, we test the relationship between financial literacy and behavioural biases such as representativeness, self-serving,...

This paper investigates the relationship between agency cost, ownership structure and corporate governance mechanisms. Though previous studies of agency problems, corporate governance mechanisms or ownership variables suffer from endogeneity, with respect to the corporate governance it is...

This paper discusses sources of value in acquisitions. Using the discounted cash-flow valuation method, we develop a model that explains sources of economic gains that can be attained through mergers. The model identifies three major sources of value in mergers, each of which can reduce or...