The banking sector in Tunisia has undergone, in the past decades, numerous structural changes which have affected the banking industry in particular and the economy as whole. This paper studies the internal and external determinants of bank performance in Tunisia during the period after...

In this paper, we carry out an empirical study for the Tunisian market to shed light on the question whether the observed shift into non-interest income activities improves performance of commercial banks. Our main results can be summarised in three statements: banks diversified across both...

This paper analyses empirically the determinants of risk-taking in Tunisian commercial banks, with special emphasis on the ownership structure, the acceptance of government officials on bank's boards, the capital adequacy requirements and the franchise value. The sample used comprised ten...

In this paper, we carry out an empirical study for the Tunisian market to shed light on the question whether the observed shift into non-interest income activities improves performance of commercial banks. Our main results can be summarised in three statements: banks diversified across both...

This paper examines the relative and incremental information content of economic value added (EVA) and traditional performance measures, focusing on the Tunisian banking industry. Our sample comprises only publicly listed commercial banks, and comprises ten banks over a period of ten years...

We examine the profitability of momentum strategies in the Tunisian stock market over the period (January 1998-December 2007). We adopt the methodology of Jegadeesh and Titman (1993). The results show that momentum strategies are profitable. We use the methodology of Lo and Mackinlay (1990) and...

This paper examines the dynamics of stock prices adjustment to fundamental value proxied by dividend per share and earnings per share on the Tunisian stock market based on the cointegration techniques. First, the linear cointegration between stock prices and fundamental values is examined by...

Previous research has recognized strong and robust links between seasonal variation in length of day, seasonal depression risk aversion and stock market returns. The influence of Seasonal Affective Disorder (SAD) on market returns is known as the SAD effect. We study the SAD effect in the...