This paper uses stochastic dominance (SD) analysis to examine whether Islamic stock indexes
outperform conventional stock indexes by comparing nine Dow Jones Islamic indexes to …

We examine whether the prevailing national culture has been material in determining bank
performance during the recent financial crisis. In this paper, we focus on three particular …

We examine the relationship between stock extreme illiquidity and the implied cost of capital
for firms from 45 countries. We document robust evidence that firms whose stocks have a …

In this paper, we examine risk taking by publicly traded and privately owned banks in an
institutionally diversified international sample of countries. Using the Z–score as our primary risk …

We examine whether state ownership affects the effectiveness of macroprudential policies
in curbing bank credit growth. Using a panel data set of 386 banks from 50 countries around …

In this paper, we examine the effectiveness of macroprudential policies in limiting credit
growth conditional on the quality of bank regulation and supervision. Using a large panel data …

We investigate the impact of liquidity level and risks on the implied cost of equity capital for
14,808 stocks from 52 countries. We find that the implied cost of equity increases in the …

We examine, for the first time in the literature, the impact of social capital on the cost of bank
equity worldwide. We reach two interesting conclusions. First, consistent with the view that …

We study the determinants of a firm’s decision to issue one of the four available ADR programs
(Level I, Level II, Level III, and Rule 144A). We find that the firm’s attributes (size, income, …

Using a sample of publicly listed banks from 62 countries over the 1991–2017 period, we
investigate the impact of capital on banks’ cost of equity. Consistent with the theoretical …