Purchased Goodwill And Its Accounting Treatment, 2015 Dublin Institute of Technology
Purchased Goodwill And Its Accounting Treatment, Terence Sheridan
The ITB Journal
When a company decides to purchase another company or enterprise, the consideration paid will, in many cases, exceed the total of the separate valuation of each of the assets and liabilities of the company or enterprise being purchased. The extent of the premium paid is sometimes dependent on the growth potential of the company in question. In other cases, the premium is linked to the possibilities for cost-cutting when synergies between the existing and new companies are exploited. Occasionally, the fact that a company has an established reputation or an established customer base will result in a considerable premium being ...
Behavioral Finance: Its History And Its Future, 2015 Southeastern University - Lakeland
Behavioral Finance: Its History And Its Future, Robert Christopher Hammond
Selected Honors Theses
The field of behavioral finance has attempted to explain a litany of biases, heuristics, and
inefficiencies present in financial markets since its creation in the 1980’s. This paper is structured as a comprehensive literature review of behavioral finance, and includes both the seminal works as well as more recent papers. The various subtopics of behavioral finance will also be analyzed, which include loss aversion, corporate finance, and momentum/contrarian investing. Finally, this paper will draw unique conclusions across behavioral finance and hypothesize about what topics within behavioral finance are likely to yield the most interesting research in the near ...
Perceived Risk Reduction In E-Commerce Environments, 2015 University of North Georgia
Perceived Risk Reduction In E-Commerce Environments, C. Michael Powell, Chris Conca
Atlantic Marketing Association Proceedings
During the past three decades, the growth of e-commerce has presented marketers with many new arenas for research and application. Certainly e-commerce has become a significant portion of the world economy and in particular the consumer sector. As previous literature has consistently considered perceived risk as a major factor consumer purchase decisions, this research identifies several major components of consumer perceived risk (PR) and their normative implications in the e-commerce environment
National Culture Dimensions And Consumer Digital Piracy: A European Perspective, 2015 University of Ljubljana
National Culture Dimensions And Consumer Digital Piracy: A European Perspective, Irena Vida, Monika Kukar-Kinney, Mateja Kos Kokli, James Reardon
Atlantic Marketing Association Proceedings
Digital piracy as a ubiquitous phenomenon affects a number of stakeholders, such as consumers, enterprises, and governments. Considering its global nature, it has been of particular interest to consumer researchers. Hence, a large body of digital piracy literature sheds light on the demand side and illuminates various predictors of digital piracy behavior (Harris & Daunt, 2011). Despite these efforts, very little attention has been devoted to applying international perspective in investigating digital piracy across different countries (Ki, Chang, & Khang, 2006). This study aims to fill this void by examining the digital piracy behavior in three EU countries. In addition, it examines ...
Counteracting Fraud, Waste And Abuse In Drug Test Billing, 2015 La Salle University
Counteracting Fraud, Waste And Abuse In Drug Test Billing, Allison Walton
Economic Crime Forensics Capstones
Medicaid, Medicare, and major insurance companies are being faced with increased costs for drug test screening. These costs are not caused by a spike in the use of narcotics by subscribers, but from unnecessary testing and overbilling by doctors and drug screening companies. Recovering drug addicts are required to have random drug tests during their treatment program, but instead of being random, the drug tests have become prescriptive. Testing is performed at specific times weekly on a single patient, for substances that return results that are unimportant to the doctors. Doctors are given drug testing kits by large drug testing ...
The Importance Of Being Dismissive: The Efficiency Role Of Pleading Stage Evaluation Of Shareholder Litigation, Lawrence A. Hamermesh, Michael L. Wachter
It has been claimed that the risk/reward dynamics of shareholder litigation have encouraged quick settlements with substantial attorneys’ fee awards but no payment to shareholders, regardless of the merits of the case. Fee-shifting charter and bylaw provisions may be too blunt a tool to control agency costs associated with excessive shareholder litigation, and are in any event now prohibited by Delaware statute. We claim, however, that active judicial supervision of public company shareholder litigation at an early stage reduces the costs of frivolous litigation to shareholders by separating meritorious from unmeritorious litigation before the full costs of discovery are ...
For-Profit Schools: A History Of Abuse And The Need For Reform, 2015 Brigham Young University Law School
For-Profit Schools: A History Of Abuse And The Need For Reform, Stephanie N. Morse
Brigham Young University Education and Law Journal
No abstract provided.
The Reform Of The Corporate Duty Of Care In China -- From The Introspection Of Delaware And Taiwan, 2015 Indiana University Maurer School of Law
The Reform Of The Corporate Duty Of Care In China -- From The Introspection Of Delaware And Taiwan, Jui-Chien Cheng
Theses and Dissertations
The concept of fiduciary duty, derived from common law, was introduced to the Company Law of People’s Republic of China in 2005. The fiduciary duty plays an extremely important role in common law, particularly in U.S. corporate law. For this reason, one might have expected dramatic consequences from its introduction to Chinese law. In reality, however, few fiduciary lawsuits have been brought to the courts of China since 2005. There are three main reasons for the rarity of due care lawsuits.
First, Chinese fiduciary law has neither clear content nor a practical enforcement. This is especially true of ...
The Effect Of Florida’S Timeshare Resale Accountability Act And Securitization Announcements On Vacation Ownership Shareholder Wealth, 2015 University of Nevada, Las Vegas
The Effect Of Florida’S Timeshare Resale Accountability Act And Securitization Announcements On Vacation Ownership Shareholder Wealth, James R. Drake, Iii
UNLV Theses/Dissertations/Professional Papers/Capstones
The focus of this study deals with the vacation ownership, or timeshare, industry, and is two-fold. First, it examines the passage of a criminal law in Florida that deals with the resale of timeshare properties and measures the law’s effects on the timeshare industry in terms of shareholder wealth. Second, the study examines the effect of the announcement of the sale of asset-backed securities in the timeshare industry, also in terms of shareholder wealth. The cumulative abnormal returns of publicly traded lodging corporations that operate in the timeshare industry are calculated and analyzed for both studies.
The passage of ...
Creative Capital: Financing Hotels Via Eb-5, 2015 Cornell University
Creative Capital: Financing Hotels Via Eb-5, Arian Mahmoodi, Jan A. Deroos
Center for Hospitality Research Publications
Administered by the United States Citizenship and Immigration Service (USCIS), the EB-5 program (Employment-Based Immigration, Fifth Preference) allows foreign nationals to invest as little as $500,000 or as much as $1 million in a U.S. enterprise, in consideration of potentially receiving permanent residency in the United States. In recent years, EB-5 financing has grown exponentially and has become a highly utilized funding source for hotel development projects.1 Congress created the program in 1990 to stimulate the U.S. economy through foreign direct investment to create jobs. Despite the growth of the program, the EB-5 market is opaque ...
Pass-Through Valuation, 2015 Washburn University
Pass-Through Valuation, Robert M. Hull, David P. Price
The Journal of Entrepreneurial Finance
Noted scholars argue that (1) economic models of capital taxation have been inadequately adapted to owner-managed enterprises and (2) capital structure researchers have used the wrong models while also improperly measuring key variables. Thus, a model that can overcome these problems should be of interest to academics when teaching capital structure theory and practitioners when determining optimal debt levels. This paper contributes to capital structure practice by using a model that is adaptable to owner-managed enterprises like pass-throughs while also containing relevant variables that are measurable. This paper should be valuable to academics and practitioners in the following ways. First ...
The Relevance Of Economic, Institutional And Cultural Determinants For Venture Capital Investments. A Us-Europe Comparison., 2015 University of San Francisco
The Relevance Of Economic, Institutional And Cultural Determinants For Venture Capital Investments. A Us-Europe Comparison., Nadja Benes
This study analyzes the determinants of early-stage VC investments by identifying characteristics in the economic, institutional, as well as cultural framework that could explain the diverging levels of early-stage VC investments across countries. Data was assembled for 16 countries during the period from 1995 until 2013. The results indicate that countries that are more open to trade are associated with higher levels in early-stage venture capital. A higher unemployment rate negatively affects a country’s level of early-stage VC funds. Higher R&D expenditures as a proxy for the technological and innovation capacity in a country as well as a ...
Theory And Experiments Exploring Behavioral, Financial, And Public Economics, 2015 University of Tennessee - Knoxville
Theory And Experiments Exploring Behavioral, Financial, And Public Economics, Matthew John Mcmahon
I study three questions which relate to one another only in that each explores facets of economics. First, I theoretically examine the conditions under which introducing an impure public good decreases total public provision. I introduce a central planner who can tax the private good to correct this and identify the market characteristics that typify this scenario. Second, I test the two standard competing dividend puzzle hypotheses using a laboratory experiment. Evidence from the lab, including variables unobservable in the field, reinforces empirical work supporting the outcome model over the substitute. Last, I obscure from dictators information regarding recipients' income ...
Nazarene Universities: Effective Boards And The Church-School Relationship, 2015 Olivet Nazarene University
Nazarene Universities: Effective Boards And The Church-School Relationship, Daniel D. Rexroth
While the world of higher education is rapidly changing, the trustee selection process and resultant board composition in Nazarene liberal arts schools has remained largely the same for the past 60 years. Trustee selection has been primarily a function of the church, disconnected often times from the needs of the schools. This study examined trustee effectiveness in Nazarene liberal arts higher education, as well as the church-school relationship. Trustees at three schools and top administrators at all eight Nazarene institutions were surveyed to identify gaps in trustee competency and also to assess the church-school relationship. Of the 139 trustees in ...
Voluntary Fair Value Disclosures Beyond Sfas 157’S Three-Level Estimates, 2015 Wayne State University
Voluntary Fair Value Disclosures Beyond Sfas 157’S Three-Level Estimates, Sung Gon Chung, Beng Wee Goh, Jeffrey Ng, Kevin Ow Yong
Research Collection School Of Accountancy
Some firms voluntarily make disclosures about the controls and processes in place to ensure the reliability of fair value estimates. Consistent with these disclosures being driven by management’s concerns about the reliability of their SFAS 157 estimates, we find that firms with more opaque estimates are more likely to provide such disclosures. We then examine whether these disclosures increase the reliability of fair value estimates. We find that they are associated with higher market pricing and lower information risk for Level 3 estimates. Further analyses of the contents of the reliability disclosures reveal that the following are particularly important ...
Institutional Shareholding And Information Content Of Dividend Surprises: Re-Examining The Dynamics In Dividend-Reappearance Era, Abu S. Amin, Shantanu Dutta, Samir Saadi, Premal P. Vora
WCOB Faculty Publications
We examine the role of institutional investors’ investment horizon on the information content associated with dividend announcement surprises in the “dividend-reappearance era”. We find that the presence of institutional investors negatively affects the announcement period cumulative abnormal return (CAR), which suggests that institutional investors reduce information content of dividend announcements. This result is primarily driven by the fact that institutional investors, especially the not-short-horizon investors, do not prefer dividend surprises – which leads to lower announcement period CAR. We do not find support for institutional investors’ informed trading argument. Our study reveals that in order to understand the dynamics between institutional ...
Audit Committees And Financial Reporting Quality In Singapore, 2015 Singapore Management University
Audit Committees And Financial Reporting Quality In Singapore, Kwong Sin Leong, Jiwei Wang, Themin Suwardy, Yuanto Kusnadi
Research Collection School Of Accountancy
No abstract provided.
A Business Trust For Partnerships? Early Conceptions Of Company-Related Assets In Legal Literature, And Antwerp Forensic And Commercial Practice (Later Sixteenth-Early Seventeenth Century), 2015 Vrije Universiteit Brussel
A Business Trust For Partnerships? Early Conceptions Of Company-Related Assets In Legal Literature, And Antwerp Forensic And Commercial Practice (Later Sixteenth-Early Seventeenth Century), Dave De Ruysscher
Dave De ruysscher
The Antwerp example demonstrates that in the early modern period entity shielding for partnerships existed in some form by law, and that it was devised in doctrine and the practice of courts rather than in legislation. The affectation of assets for the business venture that did not entail limited liability nonetheless allowed for some separation of personal from partnership-related assets. This innovation, which was devised in doctrine in the early 1600s, was important in a mercantile context in which partnerships with open goals and with active partners or directors engaged in diverse business activities. Yet, according to an older rule ...
The Discreet Trader, 2015 Bryant University
The Discreet Trader, Seth Wing
Honors Projects in Finance
This paper examines insider trading, specifically trades by corporate insiders around quarterly earnings announcements. Announcements were broken up into three categories: earnings above analyst expectations, earnings below expectations, and earnings in line with expectations. Trade data was collected from the thirty companies of the Dow Jones Industrial Average from 2012-’13. The trades were sorted by purchases and sales by date and analyzed with the earnings report of which the trades were made. Only trades in the interval from twenty days before the announcement date to twenty days after the announcement date were considered. The prediction was that corporate insiders ...
Corporate Payout Policy: The Prevalence Of Stock Repurchase Programs And Earnings Per Share, 2015 University of Redlands
Corporate Payout Policy: The Prevalence Of Stock Repurchase Programs And Earnings Per Share, Gram W. Leahy
Undergraduate Honors Theses
The goal of this research is to determine the nature of stock repurchase programs and their susceptibility to manipulation. Through the analysis of five companies known to implement buybacks (Walmart, Pfizer, Boeing, Wells Fargo, Microsoft) in five different industries, for multiple years, the research will include examination of specific variables to attempt to understand the underlying reasons for repurchase programs; what really is taking place when companies buy back their own shares, especially because the motives can vary drastically. As earnings per share is the most widely followed valuation, there is concern that it is not the most accurate for ...