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Essays On Mutual Fund Governance And The Advisory Fee Contracts, Yaman Erzurum
Essays On Mutual Fund Governance And The Advisory Fee Contracts, Yaman Erzurum
Electronic Theses and Dissertations
This dissertation consists of three studies related to corporate governance of equity mutual funds in a framework of relations between the three closely interrelated actors of mutual fund industry. The mutual fund advisers, the shareholders and the mutual fund board being the advocate of shareholders rights. The first study analyzes the advisory fee, using a survivorship bias free data set of 176 equity funds managed by 125 different advisers. The price of professional portfolio management provided by the mutual fund adviser depends not only on the fund characteristics but also on the fund objective, the adviser's portfolio related and management …
An Investigation Of The Impact Of Corporate Governance On Decision To Expense Employee Stock Options, Ling Jiang
An Investigation Of The Impact Of Corporate Governance On Decision To Expense Employee Stock Options, Ling Jiang
Theses and Dissertations
Corporations have the choice of expensing (using the fair value method), or non-expensing (using the intrinsic value method and provide pro forma disclosure in financial statement footnotes) of employee stock options. The current study examines how corporate governance factors affect such choices. Prior studies (Xie et al. 2003; Klein 2002; Peasnell et al. 2000) have indicated that certain corporate governance factors have an impact on corporate accounting behavior, including earnings management. Based on the assumption that expensing employee stock options is a good practice of accounting that improves earnings quality, it is hypothesized that these corporate governance factors would affect …