winning empirical evidence from the foreign exchange market

kwon et al - 2014 - the effect of mandatory audit firm rotation on audit quality and audit fees empirical - evidence from the korean audit market [mafr]

... http://ssrn.com/abstract=1764343 The effect of mandatory audit firm rotation on audit quality and audit fees: Empirical evidence from the Korean audit market INTRODUCTION Whether audit firm rotation ... research has the ability to provide empirical evidence of the benefits and costs associated with the introduction of the mandatory audit firm rotation policy, constituting a timely contribution The introduction ... instances of audit firm rotation and the Korean audit market In determining whether we can learn about the impact of this policy from the experiences gained in other countries, we need to first identify...

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Comparison of cosmetic earnings management for the developed markets and emerging markets some empirical evidence from the united states and taiwan

Danh mục: Báo cáo khoa học

... management The occurrence of the agency problem results from the separation of ownership and control The managers might pursue their self-interest to maximize their own wealth, perhaps at the expense ... Research The FTSE Group (2010) distinguishes between advanced and secondary emerging markets on the basis of their national income and the development of their market infrastructure The advanced ... the case, the effect of the improvement of corporate governance cannot be ignored The Cramer's V of the ﬁrst digit from years 1990 to 2002 was 0.0189, which is larger than the Cramer's V of the...

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the foreign exchange market

Danh mục: Lý thuyết tài chính tiền tệ

... Foreign Exchange • Exchange rate - price of one currency in terms of another • Foreign exchange market - the financial market where exchange rates are determined ... Affecting Exchange Rates in the Long Run Exchange Rates in the Short Run • An exchange rate is the price of domestic assets in terms of foreign assets • Using the theory of asset demand the most ... Equilibrium in the Foreign Exchange Market Response to an Increase in the Domestic Interest Rate Response to an Increase in the Foreign Interest Rate Response to an Increase in the Expected Future Exchange...

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Bank of England Interest Rate Announcements and the Foreign Exchange Market ∗ doc

Danh mục: Ngân hàng - Tín dụng

... One-half of these instances were fully expected by the market, as measured by the Bloomberg survey For the other eighteen instances, the market was either surprised that the MPC changed the policy ... (1) where Δet is the change in the logarithm of the exchange rate at time t The mean of the exchange rate returns process, μ, the autocorrelation coefficient, ρ, and the variance of the innovation, ... news effects on the foreign exchange market that differs from the traditional approach Thus, we hypothesize that macroeconomic news does not simply affect the market as shocks to otherwise continuous...

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DETERMINANTS OF COMMERCIAL BANKS INTEREST RATE SPREADS: SOME EMPIRICAL EVIDENCE FROM THE EASTERN CARIBBEAN CURRENCY UNION pdf

Danh mục: Ngân hàng - Tín dụng

... measure of market concentration Two factors go into the construction of the index, the number of firms in the industry and each firm’s market share The fewer the number of firms in the industry the ... uses the Herfindahl–Hirschman index (HHI) as the measure of market power in the banking system in each of the ECCU countries both at the aggregate level and for the foreign and indigenous banks The ... the market and then summing up the resulting numbers The HHI is expressed as: n H = ∑ xi i=1 Where, xi is the market share of firm i and n is the number of firms In this particular context, the...

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HARMONIZATION OF PUBLIC COMPETITIVE TENDERING : EMPIRICAL EVIDENCE FROM THE MINISTRY OF HEALTH IN VIETNAM

Danh mục: Tiến sĩ

... and LLT in the Ministry of Health Significance of the Study This study will benefit the government, PMUs, bidders, and other researchers The government can amend the law to remove the gaps of ... The results of the survey were analyzed in two parts The first part was the profiling of the respondents in terms of individual and profile The second part was the assessment of the procuring ... 0.05 by the F-test reflects a consistent Model On other hand, T-test of the appropriateness of the independent variables in the models show VIF is the standard criteria used to measure the phenomenon...

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The foreign exchange market

Danh mục: Ngân hàng - Tín dụng

... another country The exchange rate is the rate at which one currency is converted into another 9-3 The Functions Of The Foreign Exchange Market The foreign exchange market: is used to convert the ... The Foreign Exchange Market Introduction A firm’s sales, profits, and strategy are affected by events in the foreign exchange market The foreign exchange market is a market for converting the ... use the foreign exchange market when:  the payments they receive for exports, the income they receive from foreign investments, or the income they receive from licensing agreements with foreign...

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

Danh mục: Tổng hợp

... in the following sections describing the robustness tests Furthermore, we examine the relation between each of the five sub-indices of the CGI and market valuation to test whether any one of these ... significantly driving the relation To perform the analyses, the overall CGI scores are replaced in the regression models with the scores from the five survey sub-indices In their study on the association ... different from other listed companies, these firms are excluded from the regression analyses that follow 13 The results of the full sample are not reported, but are similar to the results shown for the...

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kwon et al - 2010 - mandatory audit firm rotation and audit quality - evidence from the korean audit market [mafr]

Danh mục: Tổng hợp

... perspectives on the same issue Without empirical evidence, it is neither clear whether mandatory rotation would really ensure audit quality by strengthening auditor independence nor obvious whether the rotation ... quality, the extent of the fresh view is less than that of the latter because of the potential knowledge transfer and staff sharing within the audit firm Thus, it is not clear whether the results from ... periodically The bill passed through the National Assembly, marking an epoch in the Korean accounting market; this contrasts the situation in the U.S., where the implementation of the same scheme...

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

Danh mục: Tổng hợp

... in the following sections describing the robustness tests Furthermore, we examine the relation between each of the five sub-indices of the CGI and market valuation to test whether any one of these ... significantly driving the relation To perform the analyses, the overall CGI scores are replaced in the regression models with the scores from the five survey sub-indices In their study on the association ... different from other listed companies, these firms are excluded from the regression analyses that follow 13 The results of the full sample are not reported, but are similar to the results shown for the...

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HARMONIZATION OF PUBLIC COMPETITIVE TENDERING EMPIRICAL EVIDENCE FROM THE MINISTRY OF HEALTH IN VIETNAM

Danh mục: Tài liệu khác

... documents, and by the contracts signed by the borrower with the providers of goods and works, and not by these Guidelines or the financing agreements No party other than the parties to the financing ... effect on the procurement market especially at the Ministry of Health of Vietnam This study will benefit the government, PMUs, bidders, and other researchers The government can amend the law to ... interpreting the results because, although we can see the effects of different procurement tools, the author cannot disentangle the effects strictly derived from the compliance with the domestic...

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Issue manager reputation, underpricing and long run performance of initial public offerings evidence from the singapore IPO market

Danh mục: Tổng hợp

... application Upon the closing of the offer, the IPO shares are allotted pursuant to the basis spelt out in the prospectus The outcome of the issue, together with the level of the subscription ... process Finally, the chapter concludes with a summary of the more prominent works done on the Singapore IPO market thus far 2.2 RISE OF THE IPOs The bull market era of the 1960s witnessed the rising ... for the trading of stocks They are the Main Board and the Stock Exchange of Singapore Dealing and Automated Quotation (SESDAQ) respectively Apart from the fact that the Main Board hosts the more...

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Chương 3 thị trường ngoại hối (the foreign exchange market)

Danh mục: Ngân hàng - Tín dụng

...

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International Financial Market and Korean Economy Introduction to exchange rates and the foreign exchange market

Danh mục: Ngân hàng - Tín dụng

... Exchange Rate Regimes (continued) The chart shows a recent classification of exchange rate regimes around the world 3 The Market for Foreign Exchange • The forex market is not an organized exchange: ... time-zone differences, there is not a moment in the day when foreign exchange is not being traded somewhere in the world 3 The Market for Foreign Exchange The Spot Contract • The simplest forex ... relative to the entire global forex market APPLICATION Foreign Exchange Derivatives There are many derivative contracts in the foreign exchange market, of which the following are the most common...

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Introduction to exchange rates and the Foreign Exchange Market

Danh mục: Quản lý nhà nước

... haircuts in these two regions Use the table that follows to answer this question.Treat the country listed as the home country and the United States as the foreign country Suppose the cost of the market ... on these data and Table 3-1, calculate the change in the exchange rate from July to January, and state whether the direction of change was consistent with the PPP-implied exchange rate using the ... the different ways in which the government may intervene in the foreign exchange market Why does the government have the ability to intervene in this way whereas private actors not? Answer: The...

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The Foreign Exchange and Interest Rate Derivatives Markets: Turnover in the United States, April 2010 doc

Danh mục: Ngân hàng - Tín dụng

... with market participants outside the United States, up from 58 percent in 2007  Market Share Concentration: Continuing the trend from earlier surveys, the market shares of the largest foreign exchange ... participating in the survey In the spot market, the market share of the ten firms reporting the highest volumes in the U.S market increased sharply to 91 percent from 79 percent The five largest ... turnover, up from 56 percent In the foreign exchange swaps market, the top ten dealers accounted for 81 percent of market share, unchanged from the previous survey The share of the top five increased...

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Monetary Policy Surprises and Interest Rates: Evidence from the Fed Funds Futures Market doc

Danh mục: Ngân hàng - Tín dụng

... Interest Rates: Evidence from the Fed Funds Futures Market Abstract This paper estimates the impact of monetary policy actions on bill, note, and bond yields, using data from the futures market for ... however, the discrepancy between the market rate and the Fed’s target is often too large to be ignored The question, then, is how best to extract a measure of the unexpected change in the target ... change too much from one day to the next The only contamination is the day τ targeting error, and the revision in the expectation of future targeting errors.5 The expected component of the change...

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Credit-risk valuation in the sovereign CDS and bonds markets: Evidence from the euro area crisis ppt

Danh mục: Ngân hàng - Tín dụng

... investigating the relationship between the corporate bond market and the corporate CDS market, but only a few papers have studied whether the empirical regularities identified in the corporate markets, ... liquidity between the CDS and the bond Specifically, the degree of liquidity in the CDS market is proxied by the bid-ask spread of the CDS premium The higher this spread is, the lower the degree of ... the inception of the EMU.4 Our aim, however, is not to study the determinants of the CDS or the bond spread, but, rather, the determinants of the basis to test whether both markets reflect different...

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The effect of economic and accounting variables on capital structure empirical evidence from iranian companies

Danh mục: Kinh tế - Quản lý

... Pecking Order Theory, Free Cash Flow Theory, Agency Theory and Market Timing Theory Most of these theories are based on the company's internal structure and the impact of internal factors of the company ... stock value There are different theories related to whether there is truly optimal capital structure or not The main emphasis of Different theories is on whether the company can change the composition ... variables at the same time and the effect of these variables together on capital structure in Iran for the first time The discussion in this paper is organized as follows In next section (2) the relevant...

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