... Research (1995), and appear in the table 76 Transparency, Financial Accounting Information Variables Used to Measure Corporate Transparency and Data Sourcesa Corporate reportingb Financial accounting ... 1) corporate reporting (voluntary and mandatory), 2) information dissemination via the media and Internet channels, and 3) private information acquisition and communication by financial analysts, ... variables that can support a wide range of enforceable contractual arrangements and that form a basis for outsiders to monitor and discipline the actions and statements of insiders.3 A fundamental...
... Association IFAEF: International Franchise Association Educational Foundation USDOC: United States Department of Commerce BID: Branding-inherent Demand SAR: Spatial Autoregressive SMA: Spatial ... until fairly recently, was not a topic that attracted enough attention from both academic and industrial applications However, recent events, such as the Enron scandal and other corporategovernance ... spot assets Two cases are studied here: Chinese banking and U.S franchising Partly due to the Asian financial crisis, the corporategovernance in this area’s financial sector has received most attention...
... Journal of Financial and Quantitative Analysis, The Journal of Banking and Finance, the Pacific Basin Finance Journal, the Australian Journal of Management, the Journal of Futures Markets and ... international conferences, including the American Finance Association, the European Finance Association, the European Financial Management Association and the Australian Banking and Finance Conference ... manipulate large datasets, develop econometric models and test hypotheses and theories using financial statement and market-based data; Have developed sound critical and analytical skills, be able to...
... BOONE, Audra L.; Laura Casares Field; Jonathan M Karpoff e Charu G Raheja (2006): "The determinants of corporate board size and composition: An empirical analysis", AFA 2005 Philadelphia Meetings, ... Journal of Banking and Finance, Vol 24, pp 1959-1995 ROMANO, Roberta (1996): Corporate law andcorporategovernance , Industrial andCorporate Change, Vol 5, pp 277-339 SHIVDASANI, Anil e David ... Meetings, March, Available at SSRN: http://ssrn.com/abstract=605762 BOWEN, Robert M.; Shivaram Rajgopal e Mohan Venkatachalam (2005): "Accounting discretion, corporategovernanceand firm performance",...
... discretionary current accruals as the dependent variable and overall company and total board characteristic variables as the independent variables CEO duality is unrelated to discretionary current accruals ... How widespread is the earnings management problem? In an article in Fortune magazine, Loomis (1999) argues that earnings management is rampant and that CEOs view earnings management as a tool to ... and Engel, 1996; Liu et al., 1998) Still others (Magnan et al., 1999; Makar and Alan, 1998; Key, 1997; Hall and Stammerjohn, 1997; Mensah et al., 1994; Jones, 1991; Lim and Matolosy, 1999) have...
... by Williamson [55, 56, 58] and by Klein, Crawford ,and Alchian [38] The appearanceof the "classic capitalist firm" and its financing was explicated by Alchian and Demsetz [12] and Jensen and Meckling ... THE JOURNAL OF FINANCE * VOL XLIII, NO * JULY 1988 Corporate Finance andCorporateGovernance OLIVER E WILLIAMSON* ABSTRACT A combined treatment of corporate finance andcorporategovernance is ... Remarks The transaction-cost approach to economic organization focuses on the governance needs of exchange relations Governance structures that mitigate hazards and facilitate adaptation plainly...
... BOONE, Audra L.; Laura Casares Field; Jonathan M Karpoff e Charu G Raheja (2006): "The determinants of corporate board size and composition: An empirical analysis", AFA 2005 Philadelphia Meetings, ... Journal of Banking and Finance, Vol 24, pp 1959-1995 ROMANO, Roberta (1996): Corporate law andcorporategovernance , Industrial andCorporate Change, Vol 5, pp 277-339 SHIVDASANI, Anil e David ... the company, and with the fact that the board members classified as external are in a dominant position and with the nomination of an external CEO According Francis, Khurana and Pereira (2003)...
... 15 - Corporate Valuation: List the two types of assets that a company owns Assets-in-place Financial, or nonoperating, assets 15 - Assets-in-Place Assets-in-place are tangible, such as buildings, ... usually is very close to figure that is reported on balance sheets 15 - Total Corporate Value Total corporate value is sum of: Value of operations Value of nonoperating assets 15 - Claims ... per share = $376.94 /10 = $37.69 15 - 25 Value-Based Management (VBM) VBM is the systematic application of the corporate valuation model to all corporate decisions and strategic initiatives...
... essays that intend to fill this lacuna in corporategovernance literature Each essay constitutes a separate chapter and touches on Chapter various aspects of how law impacts corporategovernance ... There are generally four legal models generally advocated in the countries with the Anglo-Saxon legal system such as America, United Kingdom, Australia and Canada They are managerialism or management- ... As Hansmann and Kraakman (2001) and other contractarians admit, the stakeholder or communitarian model that has been developing for the past decade provides a normatively attractive alternative...
... emerges and this is known as “earnings management” [Healy and Wahlen (1999)] Earnings manipulation has drawn the serious attention of regulators, the financial press and academic research For example, ... andCorporateGovernance in the UK Accounting academics have relatively more diverse perceptions of earnings management than practitioners and regulators Some academics argue that earnings management ... et al (2000), and Peasnell et al (2005) Song and Windram (2004) find some links between the board and audit characteristics and violations of accounting standards, by using a sample of companies...
... previous Saudi studies use either a quantitative approach (e.g., Alsaeed, 2006; Al-Abbas, 2009; Al-Moataz and Lakhal, 2012) or a qualitative approach (e.g., Al-Matari et al., 2012; Alshehri and Solomon, ... Capital Market Authority (CMA) in 2003 was a great step forward and by far the most important external corporategovernance reform in Saudi Arabia (Hussainey and Al-Nodel, 2008; Al-Matari et al., ... equity market in Saudi Arabia At that time, the stock market and regulations were weak, and thus unable to protect and attract shareholders and investors (Hussainey and Al-Nodel, 2008; Al-Nodel and...
... 591–623 Dharmapala, Dhammika, Khanna, Vikramaditya, 2009 Corporate Governance, Enforcement, and Firm Value: Evidence from India http://ssrn.com/abstract=1105732 340 N Balasubramanian et al / Emerging ... Finance 33, 254–262 Patel, Sandeep A. , Balic, Amra, Bwakira, Liliane, 2002 Measuring Transparency and Disclosure at Firm Level in Emerging Markets Working paper Standard & Poor's Sarkar, Subrata, ... Virginia Beach for helpful comments and suggestions and Sheena Paul, Andrew Schwaitzberg, and Mandy Tham for excellent research assistance We thank Pedro Matos and Miguel Ferreira for sharing...
... the corporategovernance rating metrics as indicators of corporate governance, we use the actual aggregate corporategovernance score obtained by the firm as our indicator of corporategovernance ... publicly available sources, Compustat, EDGAR and Standard and Poor’s All corporategovernance data ratings are obtained from institutional shareholder services Acknowledgements The authors acknowledge ... U.S corporategovernance system Additionally, Core et al (1999) indicate that firms with weaker governance structures have greater agency problems Corporategovernance issues arise in an organization...
... 70.00 69.00 69.00 69.00 69.00 n .a n .a n .a n .a n .a n .a n .a n .a n .a n .a n .a n .a n .a n .a n .a n .a n .a n .a n .a n .a n .a n .a n .a n .a n .a n .a n .a n .a n .a n .a n .a n .a n .a 82.00 81.00 77.00 73.00 73.00 ... et al (2003), Marry and Stangeland (2003), Klapper and Love (2004), and Bauer et al (2003) examine the impact of the governance standards on firm performance approximated by profitability ratios ... generally find a positive relationship between governance standards and firm value Baure et al (2003) and other studies are based on ratings of one or two years only, assuming that governance ratings...
... Tachibanaki (eds), Banking, Capital Markets andCorporateGovernance Basingstoke: Palgrave Harris, M., andA Raviv (1988), `Corporate Governance: Voting Rights and Majority Rules', Journal of Financial ... lack transparency and that adopting International Accounting Standards alone does not ensure high transparency Does corporate transparency matter to stock return and trading activity in the market? ... P A. , J L Ishii andA Metrick (2001), `Corporate Governanceand Equity Prices', Working Paper, Harvard Business School, Harvard University and University of Pennsylvania Hanazaki, M., andA Horiuchi...
... performance of German companies in their 1974 sample, and that both bank and nonbank block holders improve performance in a 1985 sample For Japan, Kaplan and Minton (1994) and Kang and Shivdasani (1995) ... that not rely on governance proper: the idea that firms and managers have reputations and the idea that investors are gullible and get taken Both of these approaches have A Survey of Corporate ... However, a true performance disaster is required before boards actually act (Warner, Watts, and Wruck (1988)) The evidence on Japan and Germany (Kaplan (199 4a, b)) similarly indicates that boards are...