This thesis aims to add empirical evidence to the corporate finance literature by looking at two main financing issues, namely firms’ payout policies and capital structure decisions, in the context of emerging markets. The thesis consists of seven chapters, including five main s…
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Portfolio optimization involves the optimal assignment of limited capital to different available financial assets to achieve a reasonable trade-off between profit and risk objectives. Markowitz’s mean variance (MV) model is widely regarded as the foundation of modern portfolio t…
The opacity and riskiness of small and medium sized enterprises (SMEs) make them an interesting area for the study of banks’ lending practices and procedures. SMEs in Nigeria, like in many low and middle-income economies, face financing difficulties because they are relatively y…
Part I: This chapter develops a lattice method for option evaluation aiming to investigate whether the option prices reflect the shifts in the distributions of the underlying asset returns and the risk-free interest rate. More precisely we try to investigate whether the option p…
This thesis examines the reaction of monetary policy to income inequality and the effect of asset price changes and financial sector development on income inequality. The actions of monetary authorities in the U.S and elsewhere during the financial crisis period have had a major…
Academic and professional attention towards ethics in business in general and audit ethics in particular has grown significantly following well-documented audit failures and corporate scandals. Several empirical studies have been carried out to investigate the factors underlying…
This thesis consists of three essays on sovereign risk and banking. In the first essay, we examine the determinants of sovereign risk in the Eurozone focusing on the recent crisis episode and search for a self-fulfilling contagion link by using an exogenous ECB policy announceme…
This thesis consists of three essays examining different aspects relevant to the banking sectors of developing economies. The first two essays focus on Emerging Europe a region with one of the highest foreign bank presence in the world - to study the impact of foreign bank owner…
This thesis investigates the use of ICT in Saudi Arabia to support collaboration between segregated genders. It attempts to understand the emerging technology practices of workers in higher education institutions, which are aimed at bridging the culturally imposed spatial divide…
This thesis investigates the effectiveness of Corporate Governance (CG) reforms in Pakistan. Using a sample of 160 Pakistani firms from 2003 to 2013 and governance data collected manually from the annual reports, this thesis investigates seven closely related and important corpo…
Privatization is a debated topic for decades now. This study assesses the results of the Egyptian privatization programme. The study assess the impact of privatization on 61 IPO privatized companies for a period of 16 years. The objective of the study is to examine two key aspec…
The aim of this thesis is three-fold. First, in contrast to developed exporting countries such as Australia, New Zealand and Canada, Middle East oil exporting countries are years behind achieving the prerequisites for floating exchange rate and Inflation Targeting monetary regim…
This thesis consists of three essays analysing corporate governance (CG) reforms in emerging economies, with a particular focus on Oman. The three essays focus on three closely related CG topics that quantitatively examine the extent to which Omani CG reforms have been effective…
This thesis investigates value creation in MBO transactions and the effect of earnings management on the perceived performance improvements following buyout. Various samples of buyouts are used to examine earnings management and performance, however, especial attention is given …
In my thesis, I explore German-Turks’ social identity and research its impact on their financial investment decisions. A systematic literature review reveals a research gap on financial investment decision making, as well as on qualitative research on social identity. I collecte…
This thesis contributes to the ongoing discussion about the financial and statistical modelling of returns on financial stock markets. It develops the asset pricing model concept which has received continuous attention for almost 50 years in the area of finance, as a method by w…
This thesis empirically analyses corporate governance reforms in Saudi Arabia using a mixed-methods research design. Saudi Arabia has recently pursued corporate governance reforms; the establishment of the Capital Market Authority (CMA) in 2003 and the publication of the Saudi C…
Strategic thinking (ST) is a process by which managers and employees try to find alternative ways to solve problems in order to deal with rapid changes and forces in a business environment. Strategic thinking was established and has been used extensively in developed countries. …
It is becoming increasing clear that; in banks; the sharing of knowledge amongst the senior executives has not been as effective as it should have been. The lack of knowledge amongst senior executives about the level of risks taken in sub-prime lending, the resulting "toxic asse…