Two essays on corporate default risk

... classification is based on CSMAR Industry Name B 52 Appendix 3: Variable Definitions 81                   V    Summary This thesis includes two essays on corporate default risk The ... currency return on firm default risk And large local currency deprecation is a major reason for the positive association between currency return and default risk Using country-level int...

Ngày tải lên: 09/09/2015, 11:28

... cash financing which includes combinations of cash, debt, and liabilities The second category is stock financing, which includes payments with common stock or a combination of common stock and ... measures in different regressions E Long-term performance Majority mergers and acquisition studies find negative abnormal performance following mergers (Loderer and Martin (1992), Ande...

Ngày tải lên: 03/06/2014, 02:22

Ngày tải lên: 08/03/2014, 16:20

... TWO ESSAYS ON THE ACCOUNTING TREATMENT FOR INFORMATION TECHNOLOGY EXPENDITURES A dissertation submitted in partial fulfillment of the requirements for the degree of Doctor of Philosophy in Accounting ... situation intensified by the evolution of the U.S economy into an information- based economy, which then requires stakeholder use of external information to...

Ngày tải lên: 01/06/2014, 14:04

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Ngày tải lên: 03/06/2014, 01:31

... permission of the copyright owner Further reproduction prohibited without permission Reproduced with permission of the copyright owner Further reproduction prohibited without permission Reproduced ... permission of the copyright owner Further reproduction prohibited without permission Reproduced with permission of the copyright owner Further reproduction prohibited without permission Repr...

Ngày tải lên: 03/06/2014, 01:35

... permission of the copyright owner Further reproduction prohibited without permission Reproduced with permission of the copyright owner Further reproduction prohibited without permission Reproduced ... permission of the copyright owner Further reproduction prohibited without permission Reproduced with permission of the copyright owner Further reproduction prohibited without permission Repr...

Ngày tải lên: 03/06/2014, 01:38

... Studies examining insider trading around important corporate announcements report similar findings.10 However, the decrease in managerial holdings is not as dramatic as the increase in selling; for ... holdings (CHNG): CHNG= ∆ (Share holdings) t + ∆ (Option holdings) t ( Beginning share holdings + Beginning option holdings) t b The independent variables are defined as follows: stock acq...

Ngày tải lên: 03/06/2014, 02:22

... Diversification on Excess Value: Average Treatment Effect on the Treated 28 2.11 The Effect of Diversification on Excess Value Average Treatment Effect on the Treated Conditional on ... histogram of the firm- specific effects of diversification on firm value 52 4.1 The distribution of the firm- specific effects of related diversification on firm value ... I...

Ngày tải lên: 02/11/2014, 00:32

... dissertation is comprised of in depth analysis on the broader topic of corporate strategy with emphasis of the role of intangible assets The first chapter looks at the performance implications of acquiring ... continue to exploit their specialized capabilities into the future Finally I provide discussion of the theoretical implications of the empirical...

Ngày tải lên: 02/11/2014, 00:32

... examining incentives to change entire firm value, for instance, a change in the accounting system They suggest that percentage ownership (the second measure) is more important in explaining incentives ... non-restating firms Industry-year adjusted values for restating firms 18 are calculated by deducting the median non-restating firm’s characteristic in the corresponding industry-year o...

Ngày tải lên: 02/11/2014, 00:50

... structure in an emerging economy context? How does firm governance affect firms growth strategies in an emerging economy? What is the relationship between firm governance and firm performance in an emerging ... for an emerging economy is a contribution in itself I combined this data with two other datasets to obtain firm level information and information on growth...

Ngày tải lên: 09/09/2015, 18:49

... Section 5: Examination on the Alternative Explanations for Momentum 100 5.1 Information Uncertainty and Momentum 100 5.2 Analyst Herding and Momentum 102 Section 6: Regression Approach 107 Section ... 1: Stock Price Synchronicity and Momentum Section Introduction Recently, the co-movement of stock prices and price momentum have been intensely studied by researchers However...

Ngày tải lên: 14/09/2015, 12:11

... Introduction Convertible debt is a hybrid security whose value consists of debt and equity Convertible debt has equity characteristics since the convertible debt holder has equity conversion rights ... reaction to the financing choice between debt, equity and convertible debt Kim considers straight debt and equity as special cases of convertible debt A straight debt...

Ngày tải lên: 30/09/2015, 17:19