The value of corporate governance, evidence from american mergers

... increases the model goodness of fit19 The dummy variable CASH takes a value of one if the offer is in cash and zero otherwise The dummy variable HOT takes the value of one if the transaction occurs from ... tests the association between the target’s governance level and the M&A activity, the method of payment and the premium Section evaluates the value...

Ngày tải lên: 30/09/2015, 17:30

... between corporate governance practices and market valuation Using the MTBV as a proxy for market value, Figure shows a positive and statistically significant correlation between the 10 Market Value ... Blackwell Publishing Ltd 2007 Do Investors Really Value Corporate Governance? 103 CGI and the market value This implies that companies with higher corporate...

Ngày tải lên: 02/01/2015, 17:33

... between corporate governance practices and market valuation Using the MTBV as a proxy for market value, Figure shows a positive and statistically significant correlation between the 10 Market Value ... Blackwell Publishing Ltd 2007 Do Investors Really Value Corporate Governance? 103 CGI and the market value This implies that companies with higher corporate...

Ngày tải lên: 06/01/2015, 19:46

... THE DETERMINANTS OF AUDITOR SWITCHING FROM THE PERSPECTIVE OF CORPORATE GOVERNANCE IN CHINA costs of raising capital and hiring a low-quality auditor to maintain the gains from the opaqueness ... r TABLE Internal Corporate Governance Mechanism and Switching to a Smaller Auditor – Main Test THE DETERMINANTS OF AUDITOR SWITCHING FROM...

Ngày tải lên: 06/01/2015, 19:43

... the utility of the auditing function as well as the consequences of auditor switching in the Chinese context To study the determinants of auditor switching from the perspective of corporate governance ... good corporate governance to lower the costs of capital raising and hiring or switching to a low-quality auditor to maintain the gains...

Ngày tải lên: 06/01/2015, 19:43

... reports, the time horizon, the study population, the sample selection, the characteristics of the disclosure index, the construction of the disclosure index and the assessment of its reliability and ... Definition of Research and Development Activities 2.2.2 The Importance of Research and Development Activities 2.2.3 The Nature of Research...

Ngày tải lên: 08/11/2015, 00:07

... in the education variables, only the direct effects of the years of schooling of the head of the household, the years of schooling of the money manager and the average schooling of the heads of ... Sixty-eight percent of the banks in the Northeast and 81% of the banks in the Central region make loans, while only 35% of the banks in the N...

Ngày tải lên: 06/03/2014, 10:20

... determinants of mutual fund performance using four factor models for the funds from 19 countries The major finding of the study explained that size of the funds did matter and the performance of large funds ... Research Hypotheses In order to evaluate the effects of fund size on the performance of mutual funds, these hypotheses were teste...

Ngày tải lên: 16/03/2014, 17:20

... study aims to examine the effects of mandatory audit firm rotation upon audit quality, we will consider the previous studies about audit quality MAR and Audit Quality Audit quality is an important ... of auditor rotation and auditor tenure of the public accountants and the public accounting firms, on audit quality (before and after the...

Ngày tải lên: 06/01/2015, 19:43

... Governance and the Principal-Agent Problem Before applying theory to the case of Enron, it is important to first discuss the nature of the principal-agent problem and the reasons for a governance ... “nodders and yes-men” (The Economist 2002) as directors and thus weakening the imperative oversight role of the Board and contributing to the fall of Enro...

Ngày tải lên: 06/01/2015, 19:49

Ngày tải lên: 19/03/2015, 14:51

... Malaysia and Thailand to find evidence of the existence of credit crunch in the early years of the crisis Section reviews the road to recovery in Malaysia and Thailand and explains the recovery in the ... though the institutional structures of Malaysia and Thailand are different from that of the United States in the 1930s and 1990s and...

Ngày tải lên: 12/09/2015, 08:18

... in the 1980s, the private sector emerged as the new engine in the 1990s According to Sonobe et al (2004), the heartland of this private sector growth was Zhejiang Province, particularly in Wenzhou ... economy In the mid-to-late 1980s, strong industrial growth occurred in the Wenzhou region (John, Edward and Shen (2007)) Almost all of the firms i...

Ngày tải lên: 02/10/2015, 17:14

... building project will cost Some of them can influence green cost as well 2.2 Construction Cost of Green Buildings 2.2.1 Definition of Construction Cost and Green Cost The total cost of a project includes ... differentiate the existing buildings from the new buildings, since the construction cost of existing building only refers to the refurbishme...

Ngày tải lên: 16/10/2015, 12:00