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- SAS No. 59 (2)
- Auditors (1)
- Bankruptcies (1)
- Bankruptices (1)
- Bilson's investment strategy (1)
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- Collective purpose (1)
- Foreign investments (1)
- Going-concern audit reports (1)
- Going-concern modified reports (1)
- Interdependence (1)
- Layoff; layoffs; executive pay; pay; stock; prices; price; raise; raises; CEO; chief executive officer; premium; workers; reaction; correlation (1)
- Organizational leadership (1)
- Purchasing power parity (1)
- Real estate (1)
- Returns (1)
- Simple investment strategy (1)
Articles 1 - 6 of 6
Full-Text Articles in Business
Going-Concern Audit Report Recipients Before And After Sas No. 59, Marshall A. Geiger, Kannan Raghunandan, D. V. Rama
Going-Concern Audit Report Recipients Before And After Sas No. 59, Marshall A. Geiger, Kannan Raghunandan, D. V. Rama
Accounting Faculty Publications
In an attempt to provide information to make an evaluation on whether the requirements under SAS No. 59 have had any significant effect on auditor reporting decisions, a study was conducted that examined companies receiving going-concern modified reports before and after the implementation of SAS No. 59. We wanted to assess whether auditors were issuing going-concern modified reports to clients exhibiting different levels of financial stress and also whether the bankruptcy rate of such companies was different after the adoption of SAS No. 59.
Layoffs, Top Executive Pay, And Firm Performance, Kevin F. Hallock
Layoffs, Top Executive Pay, And Firm Performance, Kevin F. Hallock
Economics Faculty Publications
This paper examines the connection between layoffs, executive pay, and stock prices. Firms that announce layoffs in the previous year pay their CEOs more, and give their CEOs larger percentage raises than firms which do not have at least one layoff announcement in the previous year. However, the likelihood of announcing a layoff varies dramatically along with other dimensions, for example firm size, which are also correlated with CEO pay. Once firm-specific fixed effects are controlled for, the CEO pay premium for laying off workers disappears. In addition, there is a small negative share price reaction to layoff announcements.
A Note On Going-Concern Modified Audit Reports And Subsequent Bankruptcies Before And After Sas No. 59, Marshall A. Geiger, Kannan Raghunandan, Dasaratha V. Rama
A Note On Going-Concern Modified Audit Reports And Subsequent Bankruptcies Before And After Sas No. 59, Marshall A. Geiger, Kannan Raghunandan, Dasaratha V. Rama
Accounting Faculty Publications
Several papers have examined the proportion of bankrupt companies which did not have a prior going-concern modified report (a type II reporting error) before and after Statement on Auditing Standards No. 59 became effective. This paper contributes to the debate by examining the subsequent viability status for companies that received a first-time going-concern modified audit report (type I reporting errors) before and after SAS No. 59. The results indicate that 13.6 (10.1) percent and 24.3 (20.2) percent of companies receiving a first-time going concern modified audit report in the post-SAS No. 59 (pre-SAS No. 59) period entered bankruptcy within one …
How Much Is Purchasing Power Parity Worth?, Stefan C. Norrbin, C. Mitchell Conover
How Much Is Purchasing Power Parity Worth?, Stefan C. Norrbin, C. Mitchell Conover
Finance Faculty Publications
Updating Bilson 's (1984) investment strategy using an out-of-sample forecast procedure, we find much smaller profits from a trading strategy based on purchasing power parity. Though the total profit is significant at a 5 percent level, it is substantially lower than what Bilson found. Our results suggest Bilson's excess profits are due to the sample of data used and the in-sample nature of the tests. Hence, this paper demonstrates that the simple investment strategy leads to the same conclusion that econometric testing does; namely, that purchasing power parity is only marginally useful in forecasting exchange rates.
The Relationship Between Size And Return For Foreign Real Estate Investments, C. Mitchell Conover, H. Swint Friday, Shelly W. Howton
The Relationship Between Size And Return For Foreign Real Estate Investments, C. Mitchell Conover, H. Swint Friday, Shelly W. Howton
Finance Faculty Publications
In this study, we utilize a relatively new database to examine whether small foreign real estate firms have higher returns than large foreign real estate firms. We examine this issue from the perspective of a U.S. investor who forms portfolios of international real estate firms on the basis of U.S. dollar market value of equity. Using eleven years of foreign real estate data for more than 1200 observations in twenty countries, we find that large firms have higher returns and lower risk than small firms. These results hold when returns are denominated in either local currency or dollars. Further, the …
Leadership And The Social Imperative Of Organizations In The 21st Century, Gill Robinson Hickman
Leadership And The Social Imperative Of Organizations In The 21st Century, Gill Robinson Hickman
Jepson School of Leadership Studies articles, book chapters and other publications
Much of our writing and dialogue as leadership scholars consists of exchanges about "good" leadership -- what leadership ought to be as opposed to what it really is, as Barbara Kellerman so accurately observes. Although I strongly believe that leadership scholars should do both, I intend to provide a normative perspective for organization leadership in the context of turbulent environments. The new era in which organizations must function is characterized by factors such as intense global concern and competition; intraorganizational relationships and collaboration; a focus on democracy, substantive justice, civic virtues, and the common good; values orientation; empowerment and trust; …