Purpose The purpose of this paper is to investigate the stock market response to dividend announcements in high growth emerging markets of Gulf countries. Design/methodology/approach The sample includes 1,092 dividend announcements from 299 listed firms over the period 2010-2015. Findings In the environment where there is an absence of capital gain and income tax, the authors find some evidence for the stock price reaction that partly supports the signaling hypothesis. The findings show that the Gulf Cooperation Council (GCC) market is inefficient because of the leakage information before the announcement in bad news, and the delay of share price adjustment in good news. In addition, the authors report significant trading volume (TV) reaction in all the three announcements clusters, where dividends increase, decrease, and are constant, lending support to the hypothesis that the dividend change announcements have an impact on the TV response due to different investors’ preferences. Originality/value This is the first empirical paper on market reaction in share price and TV around dividend announcement using data for the majority of GCC countries.
The objective of this study is to examine the impact of financial decisions on the ownership structure. This study adopted two themes of ownership structure (e.g., 25% & 50%) that categorized the family-owned firms (FOF) and non-family firms (NFOF). The data was collected from 286 firms listed at GCC stock exchanges annual reports, stock exchange database, and Data Stream that range from 2010-2016 periods. The findings of this study showed that the FOFs have lesser investment-internal fund sensitivity than NFOFs. Though, there is an insignificant effect of the block holder on investment funds sensitivity. However, the little implication of dividend payout in FOFs as compare to NFOFs was disclosed in the results. Moreover, it wrapped up that there are less agency problems and information asymmetry in FOFs comparatively.
Objective: To determine the prevalence and associated risk factors for musculoskeletal pain among medical students in Saudi Arabia. Method: A cross-sectional analysis for one Saudi medical school in 2015-2016 academic year.Themain outcomes were measured byThe Nordic Musculoskeletal Questionnaire (NMQ) which was used to screen for pain in different anatomic joints during the past week and past year. Another questionnaire was developed to assess for contributing factors for the pain. Result: 849 medical students were analyzed with a response rate (73.31 %.). There were57.85% of the students suffering of musculoskeletal pain in the past week, and 43.47% in past year. There is a higher prevalence among female medical students with p value <0.01. Previous trauma, family history of trauma, high computer hours use, being in clinical years, and high BMI were the main factors contributing to MSP in this study. Conclusion:The study demonstrates a very high prevalence of musculoskeletal pain medical students which may affect the lifestyle and academic performance in medical schools.Copy Right, IJAR, 2017,. All rights reserved. …………………………………………………………………………………………………….... Background:-Musculoskeletal pain (MSP) which includes commonly low back pain, shoulders pain and neck pain is a common heath problem that affect both male and female. World-wide estimates of lifetime prevalence of low back pain (LBP) vary from 50 to 84 % and 20-30% at any given time [1]. Musculoskeletal pain affects people's mood leading to depression, anxiety, irritability, poor social interactions, and lower overall health status, and that can limit the individual productivity, induces stress and it is socially costing in terms of health care. Although the Musculoskeletal pain represented as a common occupational problem it may affects younger population like school and university students who have not yet entered their working life. Moreover, previous studies have demonstrated a higher prevalence of MSP among medical and dental students compared to other university students. Several studies investigated the prevalence and factors associated with MSP among medical students. However, there are no previous studies have been conducted among medical students in Saudi Arabia. The authors aim in this study to measure the prevalence of this health problem among medical students in Umm Al-Qura University, College of Medicine (UQUMed) in Saudi Arabia, compare it with other investigated risk factors in literatures, and look for other possible factors that may contribute to MSP.
PurposeThis paper examines the dividend smoothing (DS) behaviour in the Gulf Cooperation Council (GCC) countries in emerging markets where the response to news and the economic environment are different from those of developed countries.Design/methodology/approachThe authors examine the effect of share price informativeness on DS in the GCC markets using unbalanced panel data for a sample of 628 GCC-listed firms during 1994–2016. For the regression analysis, the hypotheses are tested using panel regressions and generalised method of moments (GMM) estimation.FindingsFirst, the Lintner model shows that the DS degree in GCC firms is comparable to that of a developed market. Second, and importantly, the results reveal that the DS in GCC firms is sensitive to private information of share prices. Finally, the findings indicate that information asymmetry (IA) and agency-based models affect the tendency to smooth dividends in the GCC markets.Originality/valueThis study is the first study to measure the degree of DS using data for all GCC countries. The authors also identify other determinants of DS behaviour and test the agency and IA explanations for DS in GCC-listed firms. The findings are highly recommended to financial managers and analysts dealing with the GCC markets. This study helps financial analysts to use the share price informativeness as an indicator for the presence of the IA. The study results are beneficial to researchers in understanding the relationship between DS and share price informativeness.
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