see gluck et al 2007 morris 2007

... between overall corporate governance practice and firm market value are limited, but work by Gompers et al (2003), Black (2001), Bebchuk et al (2004), and Brown and r Blackwell Publishing Ltd 2007 ... firm value In contrast, Himmelberg et al (1999) suggest that managerial ownership and firm performance are determined by a common set of characteristics and question the causal relation between ... 15 per cent of the total number of listed companies, the firms chosen account for almost 90 per cent of total market capitalization and almost 80 per cent of the total market turnover Previous...

Ngày tải lên: 02/01/2015, 17:33

... dividends to total earnings 0.096 0.673 Dividends to sales Cash dividends to sales 0.014 0.166 Assets The company’s total assets 625 620 038 420 Debt to Assets Total debt to assets 0.517 0.389 ... taxes to total assets 0.020 0.132 Tobin's q Market value of equity plus the book value of liabilities to book value of assets 1.417 2.420 Dividends to cash flow Cash dividends to total earnings ... negative net present value 15 References Allen, F., Bernardo, A and Welch, I (2000) A Theory of Dividends Based on Tax Clienteles, Journal of Finance, 55, 2499-2536 Allen, F., Bartiloro, L and Kowalewski,...

Ngày tải lên: 02/01/2015, 17:33

... Anderson et al. , 2004) and no relation (Bardard et al. , 2004; Abbott et al. , 2004), contingent upon practical situations As an expansion in personnel increases both the board’s overall professional ... 1996; Abbott et al. , 2000; Chtourou et al. , 2001; Abbott et al. , 2004; Bedard et al. , 2004) The guidelines stipulate that at least one of the indepedent directors should be an financial or accounting ... general model of prevailing board studies as a theoretical basis and set up three Board characteristics and quality of financial reporting 387 regression equations to explore the correlation between...

Ngày tải lên: 02/01/2015, 17:34

... earnings, both scaled by total assets (#6) and SIZE; TotalSales Segmenti COMPLEX ϭ N LN Segmenti TotalSales iϭ1 where TotalSales is company sales revenue for 2001 and Segmenti represents the sales for ... natural logarithm of total assets (#6); TRANSPARENCY ϭ descending decile rank of absolute value of residual from regression of annual returns on annual earnings (#18), and changes in annual earnings, ... measures of expertise utilized in Balsam et al (2003) However, Balsam et al (2003) defined expertise on a national rather than state basis An alternative interpretation of a positive association...

Ngày tải lên: 06/01/2015, 19:41

... international audit policy arena to critical, but constructive analysis Finally, although Spanish academic accounting research is assuming a growing international prominence, this paper, by seeking ... Cameran et al. , 2003, p 5) In fact, the level of concentration reported is similar to that reported for other countries (Pong, 1999 for the UK position; Carrera et al. , 2005 for Spain; Wolk et al. , ... highlights the political nature of audit regulatory processes in Spain and also casts additional light on the professional status of auditors in Spain Finally, the case allows for an assessment...

Ngày tải lên: 06/01/2015, 19:41

... market-to-book ratio defined as its market value of equity divided by book values LEV = A firm’s total assets less its book value divided by its total assets ROA = the firm’s return-on-asset ratio ... et al (2003) (hereafter ALM) use a more refined measure of discretionary accruals and not find a statistically significant association between non-audit fees and positive discretionary accruals ... (see also Butler et al 2004) Thus, we focus on positive REDCA, but also conduct tests on the total sample as well as on the sub-sample of firms with negative discretionary accruals Following ALM,...

Ngày tải lên: 06/01/2015, 19:42

... the relation between auditor tenure and discretionary accruals Using the amount of discretionary accruals as a measure of earnings quality, both Johnson et al (2002) and Myers et al (2003) find ... 8); ΔREV = change in annual net revenue (Compustat data item 12); DA = discretionary accruals equal to the model residuals All variables are scaled by average total assets for the year To mitigate ... auditor-client relationships may also be detrimental to audit quality Further, while we observe a positive relation between tenure and the use of discretionary accruals to meet or beat earnings in the...

Ngày tải lên: 06/01/2015, 19:42

... Walker et al above In stark contrast to other studies using accruals as a measure of earnings quality, Nagy finds earnings quality improves after the switch, although for only the smaller half ... that have opted to retain auditors on a long-term basis The second advantage in this market is that the State Auditor General evaluates the quality of the audited financial statements of the ... Based on the experimental results of Dopuch et al (2001), we expect short term rotators to be associated with better reporting quality than non-rotators with long tenures Analysis and Results 4.1...

Ngày tải lên: 06/01/2015, 19:43

... between overall corporate governance practice and firm market value are limited, but work by Gompers et al (2003), Black (2001), Bebchuk et al (2004), and Brown and r Blackwell Publishing Ltd 2007 ... firm value In contrast, Himmelberg et al (1999) suggest that managerial ownership and firm performance are determined by a common set of characteristics and question the causal relation between ... 15 per cent of the total number of listed companies, the firms chosen account for almost 90 per cent of total market capitalization and almost 80 per cent of the total market turnover Previous...

Ngày tải lên: 06/01/2015, 19:46

... dividends to total earnings 0.096 0.673 Dividends to sales Cash dividends to sales 0.014 0.166 Assets The company’s total assets 625 620 038 420 Debt to Assets Total debt to assets 0.517 0.389 ... taxes to total assets 0.020 0.132 Tobin's q Market value of equity plus the book value of liabilities to book value of assets 1.417 2.420 Dividends to cash flow Cash dividends to total earnings ... negative net present value 15 References Allen, F., Bernardo, A and Welch, I (2000) A Theory of Dividends Based on Tax Clienteles, Journal of Finance, 55, 2499-2536 Allen, F., Bartiloro, L and Kowalewski,...

Ngày tải lên: 06/01/2015, 19:47

... Kingdom (Bauer et al. , 2004), Germany (Drobetz et al. , 2004), Russia (Black, 2001), Korea (Black et al. , 2006), the United States (Gompers et al. , 2003), and several emerging markets (Klapper and ... Therefore, when analyzing the relationship between returns and corporate governance, it is important to correct for these effects (see Bauer et al. , 2004; Bebchuk et al. , 2004; Gompers et al. , 2003) ... presents the average global overall rating for all countries evaluated by GMI Average ratings are computed for the August 2004 evaluation All firms (financials and non-financials) are included accountability,...

Ngày tải lên: 06/01/2015, 19:48

... written using these data The data are described in detail in a technical report (Dow et al. , 1977) and two papers (Rossby et al. , 1975; Freeland et al. , 1975) provide a first synthesis of the observations ... place (Crease, 1962) Half of the floats were deployed at 700 and the other half at 1300 meters A technical report by Spain et al (1980) gives details on the entire operation and all data Much of the ... 1.8 shows the nature of the FM signaling system The top line shows an ideal signal while the other lines show examples of received signals The signal detection algorithms (a cross-correlation)...

Ngày tải lên: 05/05/2014, 14:42

... Lum, Denny Trimble, et al (2005) Spherical Mechanism Analysis of a Surgical Robot for Minimally Invasive Surgery-Analytical and Experimental Approaches Medicine Meets Virtual Reality 442-448 T Fukuda, ... not have mechanical valves Yin and Fung [4] theoretical analyzed the two-dimensional peristaltic pump velocity profile using the perturbation method Following this analysis method, consider that ... Processing in the Postcentral, Intraparietal and Parietal Opercular Cortical Regions Y IWAMURA 413 423 Predicting Motor Intention M HALLETT and O BAI 439 Cortical Field Potentials and Cognitive Functions...

Ngày tải lên: 12/05/2014, 17:07

... Asymmetrically located or there are often multiple asymmetrical blotches Network Typical network that consists of lightto-dark uniform pigmented lines and hypopigmented holes Atypical network ... Delfino M, et al Dermoscopy a tutorial First ed Milan: EDRA; 2000 11 Stolz W, Riemann A, Cognetta AB, Pillet L, Abmayr W, Hölzel D, et al ABCD rule of dermatoscopy: a new practical method for ... an even surface Optical magnification is used for examination Taken together, these optical means allow the visualization of certain epidermal, dermo-epidermal, and dermal structures As immersion...

Ngày tải lên: 12/05/2014, 17:23

... (Ben-Yishai et al. , 1995) Our own view based on our experimental work, and also on recent theoretical work (Troyer et al. , 1998; Chance et al. , 1999; McLaughlin et al. , 2000; Tao et al. , 2004; Marino et ... (and also acute slices), Introduction Theoretical (also known as computational) neuroscience seeks to use mathematical analysis and computer simulation to link the anatomical and physiological ... insufficient to halt growth However, the target calcium concentration was set so that all-to-all connections or excessive large-scale firing over the entire network would produce internal calcium concentrations...

Ngày tải lên: 12/05/2014, 17:28

... typical manager of financial assets generates returns based on the systematic risk he takes — the so-called beta risk — and the value his abilities contribute to the investment process — his so-called ... special abilities in identifying undervalued financial assets — Warren Buffet certainly has these, but study b517_Chapter-03.qxd 8/21 /2007 9:07 AM Page 23 FA Benign Financial Conditions, Asset ... international operations for many decades but that has typically been limited to wholesale markets and services to large corporations Financial services to retail customers and small- and medium-sized...

Ngày tải lên: 01/11/2014, 18:10

... in the UK Appetite (2010), doi:10.1016/j.appet.2010.05.045 G Model APPET-992; No of Pages 13 K.G Grunert et al / Appetite xxx (2010) xxx–xxx Table Health inferences based on complete package information ... the UK Appetite (2010), doi:10.1016/j.appet.2010.05.045 G Model APPET-992; No of Pages 13 K.G Grunert et al / Appetite xxx (2010) xxx–xxx contained a lot, some or a little of it Finally, respondents ... meal and asked which product was healthiest and which was least healthy None of the alternatives was clearly dominant in terms of nutritional healthiness; they varied by fat, saturated fat, salt...

Ngày tải lên: 30/08/2013, 09:25

... requiring a partial pressure of oxygen of >lo-' present atmospheric levels (Farquhar et al. , 2000; Papineau et al. , 2007) This signal disappears within the period of global, low-latitude Paleoproterozoic ... International Commission on Stratigraphy) planetary time GEOLOGIC UNITS a A polar layered deposlts EAVastltgs Borealis unit LH-LA volcanic metenals I H materials I LN-EHknobby materials I LN-EH materials ... goal of ICS is to provide detailed global and regional "reference" scales of Earth history Such scales summarize our current consensus on the Figure 1.3 Ae calibration for A GeOiOgiCTimeScale...

Ngày tải lên: 25/12/2013, 09:36

... integrated tips (Albrecht, 1989; Albrecht et al. , 1990; Akamine et al. , 1990; Wolter et al. , 1991) and, on the other hand, to new detection schemes, in particular to the optical beam deflection method (Meyer ... generalized to a real two-dimensional surface (Gyalog et al. , 1995) A schematic view of the corresponding SFFM setup is shown in Figure 6.33, together with a typical lateral force curve In analogy ... this material To vary the chemical composition of the tip, a metal film can be evaporated onto the cantilever (Carpick et al. , 1996a) or alternatively thin films such as Teflon (Howald et al. , 1995)...

Ngày tải lên: 25/12/2013, 23:18