Capital market

Small and medium-sized enterprises (SMEs) account for approximately 50% of the world's gross domestic product. However, these economic agents suffer from inadequate access to liquid funds to finance their operations. The liquidity gap has led to early bankruptcy and liquidation,…

This study's objective is to provide new empirical capital market evidence on the impact of a unique natural experiment on a stock split policy which was decreed several years ago by the Saudi Arabian government. First, the capital market reaction to the government decreed stock…

Most transition countries have an informal sector that can range from 25 to 80 percent of GDP. An informal sector is defined as those economic activities that have no official registration and, as such, they have a tendency to be ungoverned by legal codes. Agents from the inform…