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Full-Text Articles in Finance and Financial Management
Three Essays On Cross-Listings From Emerging Markets, Omar Alejandro Esqueda
Three Essays On Cross-Listings From Emerging Markets, Omar Alejandro Esqueda
Theses and Dissertations - UTB/UTPA
During the last two decades, the number of cross-listed firms has been rising steadily. Recently, exchange-traded cross-listings from emerging markets have outnumbered those from developed countries. Chapter I shows an introduction to cross-listings. Chapter II analyzes the implications of ownership structure on the cross-listing premium of emerging-market firms that cross-list on U.S exchanges. Insider ownership is an important determinant of the value of cross-listed firms. The spike and fall in excess-value around the cross-listing year described in the extant cross-listing literature is substantially higher if the firm has insider ownership. In fact, investors are worse-off in the long-run when they …
The Impact Of Whistleblowing Legislation On Developed And Emerging Markets, Catherine C. Koh
The Impact Of Whistleblowing Legislation On Developed And Emerging Markets, Catherine C. Koh
Honors Theses
This paper intends to study the impact of whistleblowing legislations and on developed and emerging markets. The main reason the study is carried out is because there is lack of research and literature conducted on this topic areas. The testing of the relationship between how whistleblowing affects the equity markets in developed and emerging countries is conducted through a multi-regression analysis across four parameters (i) the weekly historical adjusted returns of the countries' indices around the time the legislation was proposed or passed, (ii) the occurrence of the event which is the week when the legislation was promulgated or enacted, …
Financial Reforms And Corporate Finance In Emerging Markets: An Analysis Of Dividend Policy Among Public Listed Firms In Pakistan, Mohammed Nishat, Wali Ullah
Financial Reforms And Corporate Finance In Emerging Markets: An Analysis Of Dividend Policy Among Public Listed Firms In Pakistan, Mohammed Nishat, Wali Ullah
Business Review
This paper analyzes the dividend behavior of 535 Pakistani listed companies during 1988 to 2005 using the Probit regression model. The findings validate the theoretical prediction for positive and significant impact of last year dividend on the current year dividend decision. More profitable and liquid firms have a higher probability to declare the dividends. Furthermore, firm size, ownership, equity and tax are positively related to the dividend declaration decision. The firms' dividend behavior differs significantly across Industries. The secondary market development has a significant effect on dividend decision and financial liberalization has been associated with shift of firms from debt …