This study investigates the factors that are considered by institutional investors when they take
their investment decisions in emerging markets using Jordanian non-financial firms. The
dataset is drawn from the Jordanian Shareholding Companies Guide (1999, 2000, 2001, 2002,
and 2003). From this dataset, firms that have reported their annual accounts without significant
gaps for the period from 1994 to 2003 were selected. Accordingly, a sample of 86
non-financial Jordanian firms was included in the analysis. Hence, the dataset is composed of
a panel of 86 firms for a ten year period. However, the sample is not a balanced panel due to
missing observations, the total number of observations used in the estimated models was 743.