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 of corporate governance for the target and the ... measures of the change in corporate governance following the transaction The definition of the variable GI is given with the each analysis of the models We first investigate whether there is...

cheung et al - 2007 - do investors really value corporate governance - evidence from the hong kong market [hcgi]

... 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 governance scores also have higher MTBVs, ... shows the ordinary least squares regression results using (i) market- to-book value (MTBV) and (ii) return on equity (ROE) as the dependent variables MTBV is the market value divided by the book value...

cheung et al - 2007 - do investors really value corporate governance - evidence from the hong kong market [hcgi]

lin and liu - 2009 - the determinants of auditor switching from the perspective of corporate governance in china

... 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 THE PERSPECTIVE OF CORPORATE GOVERNANCE IN CHINA Volume ... concentration (shareholding of the largest owner); the effectiveness of © 2009 Blackwell Publishing Ltd THE DETERMINANTS OF AUDITOR SWITCHING FROM THE PERSPECTIVE OF CORPORATE GOVERNANCE IN CHINA supervisory...

lin and liu - 2010 - the determinants of auditor switching from the perspective of corporate governance in china

... 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 from the opacity of corporate governance (such as the beneﬁts ... in the market, and on the self-interests of the management or the controlling shareholders Auditor switching decisions are subject to the constraints of the corporate governance structure in...

The impact of corporate governance on research and development voluntary disclosure UK evidence

... 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 and Development Activities 2.3 RESEARCH AND DEVELOPMENT DISCLOSURE ... TABLE CAPTION PAGE Empirical Studies on the Impact of Corporate Governance on 76 Corporate Disclosure Empirical Studies on the Impact of Corporate Governance on 82 Intellectual Capital Disclosure...

Human Capital and the Development of Financial Institutions: Evidence from Thailand docx

... 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 Northeast and 53% of the banks in the Central region offer savings ... members of the village The accuracy of financial statements, the nature of the savings and lending services that are offered and other bank policies may all depend on the skill and education of the...

Effect of Fund Size on the Performance of Mutual Funds Evidence from Iran pdf

... 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 tested: All Iranian Mutual Funds: H0: There is no significant relationship ... between fund size and performance of Iranian mutual funds (r=0) H1: There is a significant relationship between fund size and performance of Iranian mutual funds (r≠0) Fixed Income Instruments Mutual...

khasharmeh and said - 2014 - effects of mandatory audit firm rotation upon quality of audit - the perception of audit firms-evidence from bahrain [marf]

... 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 implementation of the mandatory auditor regulation) The ... independence of auditors, whereas EFFECTS OF MANDATORY AUDIT FIRM ROTATION 429 academicians, companies, and large audit firms tend to be against mandatory audit firm rotation, because changing auditors...

munzig - 2003 - enron and the economics of corporate governance

... 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 Enron The theoretical implications of a board ... some other developments in corporate governance and other potential solutions to solving the principal-agent problem Sarbanes-Oxley Act of 2002 In response to both the collapse of Enron and the...

The order of spirantisation and voicing in the history of Vietnamese initials - Evidence from Chu Nom materials

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Financial crisis and the resolution of financial distress evidence from malaysia and thailand

... 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 that of Japan’s in the1 990s, the nature of the financial crisis ... financial crisis focuses on the transmission and not the resolution of the crisis Therefore, the main contribution of the thesis is to offer new theoretical and empirical insight on the role of a...

Entrepreneurship and enterprises growth in the industrialization of private sector evidence from wenzhou

... 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 in these industries were private in nature and most of ... rapid growth during the last two decades? What were the driving forces behind the industrialization in Wenzhou? Focusing on entrepreneurship and enterprises, we will address these issues in this...

Understanding the cost of green buildings evidence from singapore

... 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 refurbishment fee 2.3 Cost Considerations of Green Buildings Cost of construction ... (2007) studied the cost of achieving specific levels of green (using the Australian Green Star system) by comparing the budgets of green buildings with similar non -green buildings The report concluded...

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