becht et al - 2005 - corporate governance and control

... of the market value of assets to the book value of assets: the market value is calculated as the sum of the book value of assets and the market value of common stock less the book value of common ... the methods of Fama and MacBeth [1973], we estimate annual cross sections of (2) with statistical signi - cance assessed within each year (by cross-sectional standard er- rors) and acros...

Ngày tải lên: 02/01/2015, 17:33

... The relation between firm-level corporate governance and market value: A case study of India N. Balasubramanian a , Bernard S. Black b, ⁎ , Vikramaditya Khanna c a Indian Institute of Management, ... emerging markets? Another examination using a new data set. Journal of Banking and Finance 33, 254–262. Patel, Sandeep A. , Balic, Amra, Bwakira, Liliane, 2002. Measu...

Ngày tải lên: 02/01/2015, 17:33

... 36.93, and 21.41 points respectively in the dividend- to-cash flow ratio. Our results for the remaining potential dividend determinants are in line with the corporate finance literature and expectations. ... literature both in dividend policy and in agency theory. In dividend policy, we show that corporate governance is a significant determinant of dividen...

Ngày tải lên: 02/01/2015, 17:33

... Board Monitoring and Earnings Management: Do Outside Directors Influence Abnormal Accruals? K.V. PEASNELL, P.F. POPE AND S. YOUNG* Abstract: This paper examines whether the incidence of earnings ... earn- ings and zero otherwise. b All probability values are for two-tailed tests. AA is current period abnormal accruals scaled by beginning-of-period total assets, estimat...

Ngày tải lên: 02/01/2015, 17:34

... earlier Dal- ton et al. (1998) meta-analysis, this analysis in- cluded both accounting and market-based mea- sures of financial performance. Another instructive stream of research, also dominated ... Vishny. 1997). Two meta-analyses provide some context and illustrate the general state of corporate gover- nance research relying on agency theory (Dalton et al 2003; Dalt...

Ngày tải lên: 02/01/2015, 17:34

... endogenous to the internal governance mechanisms we examine. C  AFAANZ, 2005 244 R. Davidson et al. / Accounting and Finance 45 (2005) 241–267 2.2. Internal governance structure The internal governance ... governance and risk management. C  AFAANZ, 2005 R. Davidson et al. / Accounting and Finance 45 (2005) 241–267 243 Our principal tests, using absolute d...

Ngày tải lên: 02/01/2015, 17:34

... The IPO environment is Audit quality for Taiwan IPO firms 89 characterized by information asymmetry between management and investors (Leland and Pyle, 1977), and between informed and uninformed ... Audit quality and earnings management for Taiwan IPO firms Ken Y. Chen College of Management, National Cheng Kung University, Tainan, Taiwan Kuen-Lin Lin Sc...

Ngày tải lên: 06/01/2015, 19:41

... of the market value of assets to the book value of assets: the market value is calculated as the sum of the book value of assets and the market value of common stock less the book value of common ... the methods of Fama and MacBeth [1973], we estimate annual cross sections of (2) with statistical signi - cance assessed within each year (by cross-sectional standard er- rors) and acros...

Ngày tải lên: 06/01/2015, 19:46

... 36.93, and 21.41 points respectively in the dividend- to-cash flow ratio. Our results for the remaining potential dividend determinants are in line with the corporate finance literature and expectations. ... literature both in dividend policy and in agency theory. In dividend policy, we show that corporate governance is a significant determinant of dividen...

Ngày tải lên: 06/01/2015, 19:47

... 7969; E-mail: ruth-agu@uiuc.edu Corporate Governance and Social Responsibility: a comparative analysis of the UK and the US* Ruth V. Aguilera* *, Cynthia A. Williams, John M. Conley and Deborah ... dif- ferences between the corporate governance arrangements in the US and the UK by evalu- ating differing institutional investor composi- tion and modes of actio...

Ngày tải lên: 06/01/2015, 19:47

... overall financial reporting disclosures index. The weak form of corporate governance in Bangladesh allows the researchers to (1) overview corporate financial reporting practices by non -financial ... 1994). Recent empirical works on the association between traditional financial reporting disclosures and corporate governance Chen and Jaggi (2000) and Eng a...

Ngày tải lên: 06/01/2015, 19:47

... A-B-C-D-E-F A-20 – historical share prices D-E-F A-21 – current share price A-B-C-D-E-F A-22 – stock price performance in relation to stock market index D-F A-23 – sales of key products F A-24 ... page B-D-F B-3 – online investor information order service A-B-D-F B-4 – mailing list A-B-D-F B-5 – postal address to investor relations B-D-F B-6 – e-mail to investor relations A-B-C-D-F B-7 – ......

Ngày tải lên: 06/01/2015, 19:49

... theoretical and empirical research on the main mechanisms of corporate control, discuss the main legal and regulatory institutions in different countries, and examine the comparative corporate governance ... declining market for corporate control and scattered institutional investor votes. 2/122 2. Historical origins: a brief sketch The term corporate governance de...

Ngày tải lên: 06/01/2015, 19:49

... Analysis. OECD, Financial Statistic Part 3 : Financial Statements of Non-financial Enterprises. CORPORATE GOVERNANCE IN ASIA: A COMPARATIVE PERSPECTIVE Seoul, 3-5 March 1999 Copyright â OECD All rights ... reserved 2 <Chart I-4> International Comparison of Financial Expenses to Sales 1) Note : 1) Manufacturing sector. Source : Bank of Korea, Financial Statement Analysis...

Ngày tải lên: 06/01/2015, 19:49

... src="data:image/png;base64,iVBORw0KGgoAAAANSUhEUgAAA3YAAAQYCAIAAADNltx+AAAACXBIWXMAABYlAAAWJQFJUiTwAAAgAElEQVR42uzde3hU9YHw8ZlkEgZNIFlBEiUKq1kNchG34AJeamClxkIt2u1acVHR1RYsVhFopc+6j7gVRKkubNFdXYOGrVTxSlRUdFWgBYtF1KyiRoyaQKiEkDWTySTz/jFv5807CRhuGujn80c7+c2Zc4Y5+zz77e/cAvF4PAAAAAdOKPFfQhMAgAMiGAym+RUAADiwJCYAABITAACJCQCAxAQAAIkJAIDEBABAYgIAgMQEAEBiAgAgMaErisVifgQA+BqF/AQcoiKRSHV1dUVFxRtvvLFjx45I...

Ngày tải lên: 06/01/2015, 19:49