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Articles 1 - 16 of 16
Full-Text Articles in Business
The Tax Cuts And Jobs Act And The Increase Of Stock Buybacks, Ruben Colon
The Tax Cuts And Jobs Act And The Increase Of Stock Buybacks, Ruben Colon
Honors Theses
In 2017, the Tax Cuts and Jobs Act (TCJA) decreased the corporate tax rate from thirty-five (35) percent to twenty-one (21) percent. In addition, the TCJA imposed a one-time tax on liquid and fixed assets held off-shore at fifteen-point five (15.5) percent and eight (8) percent, respectively, paid over eight (8) years, by awarding essentially an interest-free loan, creating an incentive for corporations in the United States to repatriate their offshore cash. This research investigates how the TCJA impacted corporate government tax revenue (CGTR), how corporations used the cash gained from the corporate tax rate decrease, whether the decrease in …
Effects Of Bonds & Fed Funds On The Stock Market, Josh Nelson, Mason Koch
Effects Of Bonds & Fed Funds On The Stock Market, Josh Nelson, Mason Koch
Student Scholarship - College of Business
This paper is to investigate the relationship that Treasury bonds and Fed Funds have with the stock market. This research is valuable because the stock market is a major aspect of America’s economy, although many consider it unpredictable and difficult to understand. The goal of our research is to lessen this unpredictability, as well as to assess the inverse relationship that hypothetically exists between the stock market, bonds and Fed Funds. By employing an OLS regression model, this study finds the effect of Fed Funds is statistically and economically significant with regard to the stock market, also having the predicted …
The Information Content Of Withdrawn Audit Qualifications: New Evidence On The Value Of "Subject-To" Opinions, L. Paige Fields, Michael S. Wilkins
The Information Content Of Withdrawn Audit Qualifications: New Evidence On The Value Of "Subject-To" Opinions, L. Paige Fields, Michael S. Wilkins
Michael S Wilkins
Statement on Auditing Standards No. 58 (AICPA 1988) effectively eliminated the "subject-to" audit opinion which auditors used to highlight financial statement uncertainties. Elimination of the "subject-to" report implied the Auditing Standards Board's belief that the opinion conveyed no material information to users. Several market-based studies of the value of "subject-to" opinions have yielded mixed results. A major limitation in most of these studies was a lack of precision in identifying the exact date upon which information, if any, was revealed to the market.
This study extends the previous work by examining the common share price reactions to public announcements of …
An Empirical Investigation Of Stock Dividends-In-Kind, L. Fields, Michael Wilkins
An Empirical Investigation Of Stock Dividends-In-Kind, L. Fields, Michael Wilkins
Michael S Wilkins
We investigate share price reactions to announcements of dividends payable in the common stock of corporations different from the issuing firm. We find that firms that declare these dividends (typically investment companies) experience positive abnormal returns upon announcement. We also find that such dividends are more likely to be declared when the shares to be distributed have peaked in value. Consistent with this finding, we document negative announcement-period abnormal returns for firms having their shares distributed. Additional tests reveal that prices respond more negatively when the information signal is strongest, when outside ownership is more dispersed, and when management is …
The Effects Of Etf Splits On Returns, Liquidity, And Individual Investors, Susana Yu, Gwendolyn Webb
The Effects Of Etf Splits On Returns, Liquidity, And Individual Investors, Susana Yu, Gwendolyn Webb
Department of Accounting and Finance Faculty Scholarship and Creative Works
Purpose – The purpose of this paper is to extend the literature on the effects of stock splits from mutual funds splits and the QQQ split to 20 exchange traded funds (ETFs) that span a wide variety of indexes. The split sample is compared to a non-split control sample with similar characteristics between 2000 and 2006. The objectives of this study are to investigate whether the results are different between the split sample and the control sample; and whether these results are similar to other investment vehicles in the existing literature. Design/methodology/approach – The paper examines stock excess returns, total …
Accounting Information And The Underpricing Of Indonesian Initial Public Offerings, Tatang Ary Gumanti
Accounting Information And The Underpricing Of Indonesian Initial Public Offerings, Tatang Ary Gumanti
Theses: Doctorates and Masters
The purpose of this study is to examine the relation between accounting measures of total firm risk and the magnitudes of IPO initial returns. The existing explanations of the underpricing of lPO's suggests that the extent of underpricing is positively related to ex ante uncertainty about the issues. This study argues that accounting risk measures are related to the ex ante uncertainty. Since ex ante uncertainty is positively related to IPO underpricing, accounting risk measures are also arguably related to IPO underpricing. An event methodology is employed in this study. Five accounting risk measures are examined: financial leverage, operating leverage, …
An Empirical Investigation Of Stock Dividends-In-Kind, L. Paige Fields, Michael S. Wilkins
An Empirical Investigation Of Stock Dividends-In-Kind, L. Paige Fields, Michael S. Wilkins
School of Business Faculty Research
We investigate share price reactions to announcements of dividends payable in the common stock of corporations different from the issuing firm. We find that firms that declare these dividends (typically investment companies) experience positive abnormal returns upon announcement. We also find that such dividends are more likely to be declared when the shares to be distributed have peaked in value. Consistent with this finding, we document negative announcement-period abnormal returns for firms having their shares distributed. Additional tests reveal that prices respond more negatively when the information signal is strongest, when outside ownership is more dispersed, and when management is …
Earnings Management And Accounting Choices In Initial Public Offerings : Evidence From Indonesia, Tatang A. Gumanti
Earnings Management And Accounting Choices In Initial Public Offerings : Evidence From Indonesia, Tatang A. Gumanti
Theses: Doctorates and Masters
Information asymmetry about the value of the firm making initial public Offering and the potential investors exists. This thesis investigates whether issuers of initial public affairs (IPOs) use accounting discretion to increase the reported earnings through the choice of accounting methods. Anecdotal evidence •suggests that accounting numbers are used in the pricing of IPO. Further, there is an economic incentive for issuers of IPOs to sell the offering shares at the highest possible price which in tum increases their proceeds and thus their wealth. This suggests a prediction that, immediately prior to the offering, issuers exercise accounting discretion to increase …
The Information Content Of Withdrawn Audit Qualifications: New Evidence On The Value Of "Subject-To" Opinions, L. Paige Fields, Michael S. Wilkins
The Information Content Of Withdrawn Audit Qualifications: New Evidence On The Value Of "Subject-To" Opinions, L. Paige Fields, Michael S. Wilkins
School of Business Faculty Research
Statement on Auditing Standards No. 58 (AICPA 1988) effectively eliminated the "subject-to" audit opinion which auditors used to highlight financial statement uncertainties. Elimination of the "subject-to" report implied the Auditing Standards Board's belief that the opinion conveyed no material information to users. Several market-based studies of the value of "subject-to" opinions have yielded mixed results. A major limitation in most of these studies was a lack of precision in identifying the exact date upon which information, if any, was revealed to the market.
This study extends the previous work by examining the common share price reactions to public announcements of …
No-Par Discount, John Raymond Wildman
No-Par Discount, John Raymond Wildman
Haskins and Sells Publications
No abstract provided.
Discount On No-Par Shares, John Raymond Wildman
Discount On No-Par Shares, John Raymond Wildman
Haskins and Sells Publications
No abstract provided.
Some Phases Of The No-Par-Value-Stock Problem, F. H. Hurdman
Some Phases Of The No-Par-Value-Stock Problem, F. H. Hurdman
Journal of Accountancy
No abstract provided.
Vagaries Of Non-Par Stock, Anonymous
Vagaries Of Non-Par Stock, Anonymous
Haskins and Sells Publications
No abstract provided.
Some Questions On No-Par-Value Stock, Frederick H. Hurdman
Some Questions On No-Par-Value Stock, Frederick H. Hurdman
Journal of Accountancy
No abstract provided.
No Par Value Stock, F. H. Hurdman
Why The Melon-Cutting?, Anonymous
Why The Melon-Cutting?, Anonymous
Haskins and Sells Publications
No abstract provided.