Open Access. Powered by Scholars. Published by Universities.®
- Discipline
-
- Finance and Financial Management (38)
- Accounting (33)
- Law (23)
- Business Administration, Management, and Operations (18)
- Social and Behavioral Sciences (18)
-
- Business Law, Public Responsibility, and Ethics (16)
- Banking and Finance Law (13)
- Business Organizations Law (12)
- Economics (9)
- Entrepreneurial and Small Business Operations (9)
- Law and Economics (9)
- Business and Corporate Communications (6)
- International Business (6)
- Securities Law (6)
- Strategic Management Policy (6)
- Asian Studies (5)
- Finance (5)
- International and Area Studies (5)
- Nonprofit Administration and Management (5)
- Portfolio and Security Analysis (5)
- Agribusiness (3)
- Human Resources Management (3)
- Real Estate (3)
- Taxation (3)
- Accounting Law (2)
- Administrative Law (2)
- Arts and Humanities (2)
- Economic Theory (2)
- Institution
-
- Singapore Management University (31)
- Selected Works (12)
- SelectedWorks (8)
- Pepperdine University (5)
- University of Pennsylvania Carey Law School (5)
-
- Montclair State University (3)
- Sacred Heart University (3)
- University of Dayton (3)
- University of Maryland Francis King Carey School of Law (3)
- University of New Orleans (3)
- University of Pittsburgh School of Law (3)
- Claremont Colleges (2)
- Duke Law (2)
- Institute of Business Administration (2)
- Liberty University (2)
- San Jose State University (2)
- University of New Hampshire (2)
- Antioch University (1)
- Bryant University (1)
- Central Washington University (1)
- Cleveland State University (1)
- Embry-Riddle Aeronautical University (1)
- Florida International University (1)
- Maurer School of Law: Indiana University (1)
- Old Dominion University (1)
- Parkland College (1)
- Portland State University (1)
- Purdue University (1)
- Salve Regina University (1)
- St. John Fisher University (1)
- Keyword
-
- Corporate governance (10)
- Acquisition (4)
- Business broker (4)
- Enterprise risk management (4)
- Main street (4)
-
- Merger (4)
- Small business (4)
- Board of directors (3)
- Corporate finance (3)
- Executive compensation (3)
- Fiduciary duties (3)
- Finance (3)
- Insider trading (3)
- Voluntary disclosure (3)
- Agency costs (2)
- Banking and Finance (2)
- Capitalists and financiers (2)
- China (2)
- Corporate Governance (2)
- Corporate culture (2)
- Corporate site visits (2)
- Corporation and Enterprise Law (2)
- Corporation law (2)
- Derivatives (2)
- Discretionary accruals (2)
- Duty to monitor (2)
- Economics (2)
- Financial Crisis (2)
- Financial risk (2)
- Firm value (2)
- Publication
-
- Research Collection School Of Accountancy (21)
- Research Collection Lee Kong Chian School Of Business (8)
- All Faculty Scholarship (5)
- Faculty Scholarship (4)
- Keith Duncan (4)
-
- Pepperdine Market Pulse Report (4)
- Accounting Faculty Publications (3)
- Articles (3)
- Department of Accounting and Finance Faculty Scholarship and Creative Works (3)
- University of New Orleans Theses and Dissertations (3)
- WCBT Faculty Publications (3)
- Ahmed Imran Hunjra (PhD) (2)
- Bryane Michael (bryane.michael@stcatz.ox.ac.uk) (2)
- Business Review (2)
- Faculty Publications (2)
- Faculty Publications and Presentations (2)
- Honors Theses and Capstones (2)
- Michelle M. Harner (2)
- Perspectives@SMU (2)
- Steven Slezak (2)
- 2010-2016 Archived Posters (1)
- A with Honors Projects (1)
- Accounting, Economics, Finance, and Information Sciences - Daytona Beach (1)
- Ahmed Khalid (1)
- All Faculty Scholarship for the College of Business (1)
- Anna Ujwary-Gil (1)
- Antioch University Full-Text Dissertations & Theses (1)
- Articles by Maurer Faculty (1)
- Bruce Vanstone (1)
- Business Administration (1)
- Publication Type
- File Type
Articles 1 - 30 of 112
Full-Text Articles in Corporate Finance
A Theoretical Analysis Of Iso9000 Suppliers, Chiaho Chang
A Theoretical Analysis Of Iso9000 Suppliers, Chiaho Chang
Department of Accounting and Finance Faculty Scholarship and Creative Works
This paper looks at the economic behavior of suppliers under different ISO9000 standards, especially that of ISO9001 and ISO9002. Considering the information asymmetry, given the same quality provided, the cost-reducing efforts of the ISO9001 SUPPLIER and ISO9002 SUPPLIER under a fixed, cost-plus contract are investigated. The result shows that the cost-reducing effort of the ISO9002 SUPPLIER is in line with the main manufacturer's expectations while the ISO9001 SUPPLIER is able to keep some of the information rent and exerts less effort. The bargaining power of the ISO9001 SUPPLIER is also stronger relative to that of the ISO9002 SUPPLIER. It is …
2013 Q4 Market Pulse Report, Craig R. Everett
2013 Q4 Market Pulse Report, Craig R. Everett
Pepperdine Market Pulse Report
The quarterly IBBA and M&A Source Market Pulse Survey was created to gain an accurate understanding of the market conditions for businesses being sold in Main Street (values $0-$2MM) and the lower middle market (values $2MM -$50MM). The national survey was conducted with the intent of providing a valuable resource to business owners and their advisors. The IBBA and M&A Source present the Market Pulse Survey with the support of the Pepperdine Private Capital Markets Project and the Graziado School of Business and Management at Pepperdine University.
Six Sigma, Firm Performance And Returns Predictability In Emerging Real Estate Market, Bora Ozkan
Six Sigma, Firm Performance And Returns Predictability In Emerging Real Estate Market, Bora Ozkan
University of New Orleans Theses and Dissertations
This dissertation consists of two essays. First essay investigates Fortune 500 companies that implemented Six Sigma. Since the 1980s, industrial organizations have adopted practices such as Six Sigma to maintain and enhance competitiveness. The purpose of this study is to look at the long run stock price and the operating performance of Fortune 500 companies that were identified to have implemented Six Sigma compared to the overall market performance as well as the performance of industry and size matched firms. Even though our sample firms improved several variables after implementing Six Sigma, their operating performances were not quite close to …
Characteristics Of Failed U.S. Commercial Banks: An Exploratory Study, Fatima Alali, Silvia Romero
Characteristics Of Failed U.S. Commercial Banks: An Exploratory Study, Fatima Alali, Silvia Romero
Department of Accounting and Finance Faculty Scholarship and Creative Works
This study uses survival analysis to determine how early the indications of bank failure can be observed. We find that banks with high loan to asset and high personal loan to assets ratios are more likely to survive. Older banks and banks with high real estate and agricultural loans, loan loss allowance, loan charges off and non-performing loans to assets ratio are more likely to fail. It is possible to predict survival functions of <50% for failed banks, 3years or less before failure. Moreover, we find that most of the variables present a behaviour that departs from Benford's Law.
Management Forecast Credibility And Underreaction To News, Jeffrey Ng, Irem Tuna, Rodrigo Verdi
Management Forecast Credibility And Underreaction To News, Jeffrey Ng, Irem Tuna, Rodrigo Verdi
Research Collection School Of Accountancy
In this paper, we first document evidence of underreaction to management forecast news. We then hypothesize that the credibility of the forecast influences the magnitude of this underreaction. Relying on evidence that more credible forecasts are associated with a larger reaction in the short window around the management forecasts and a smaller post-management forecast drift in returns, we show that the magnitude of the underreaction is smaller for firms that provide more credible forecasts. Our paper contributes to the literature by providing out-of-sample evidence of the drift in returns documented in the post-earnings-announcement drift literature, with the credibility of the …
Financial Reporting Quality Of Chinese Reverse Merger Firms: The Reverse Merger Effect Or The China Effect?, Kun-Chih Chen, Qiang Cheng, Ying Chou Lin, Yu-Chen Lin, Xing Xiao
Financial Reporting Quality Of Chinese Reverse Merger Firms: The Reverse Merger Effect Or The China Effect?, Kun-Chih Chen, Qiang Cheng, Ying Chou Lin, Yu-Chen Lin, Xing Xiao
Research Collection School Of Accountancy
In this paper, we examine why Chinese reverse merger (RM) firms have lower financial reporting quality. We find that while U.S. RM firms have similar financial reporting quality as matched U.S. IPO firms, Chinese RM firms exhibit lower financial reporting quality than Chinese ADR firms. We further find that Chinese RM firms exhibit lower financial reporting quality than U.S. RM firms. These results indicate that the use of RM process is associated with poor financial reporting quality only in firms from China, where the legal enforcement is weaker than U.S. In addition, we find that compared to Chinese ADR firms, …
What Are Analysts Really Good At?, Rong Wang, Leonardo Madureira, Rong Wang, Tzachi Zach
What Are Analysts Really Good At?, Rong Wang, Leonardo Madureira, Rong Wang, Tzachi Zach
Research Collection Lee Kong Chian School Of Business
Sell-side analysts employ different benchmarks when defining their stock recommendations. For example, a ‘buy’ for some brokers means the stock is expected to outperform its peers in the same sector (“industry benchmarkers”), while for other brokers it means the stock is expected to outperform the market (“market benchmarkers”), or just some absolute return (“total benchmarkers”). We use these benchmarks to analyze the role of stock picking, industry picking and market timing in contributing to the performance of stock recommendations. We are able to do so given that different benchmarks suggest the use of different sets of abilities. Analysis of the …
Dead Cat Bounce [Radio Interview], Bruce Vanstone
Dead Cat Bounce [Radio Interview], Bruce Vanstone
Bruce Vanstone
Regular 'Word of the Week' segment. Interview with Professor Bruce Vanstone, Bond University, regarding 'dead cat bounce'. Vanstone says it's a Wall Street term which means a stock has fallen from a very high price to a low price in small period of time. Vanstone notes a small upward spike but the price will normally tend to decline again. Vanstone uses Billabong as an example to illustrate a 'dead cat bounce'.
Leverage Buy-Out Case Study, Binh Duc Nguyen
Leverage Buy-Out Case Study, Binh Duc Nguyen
Honors Theses and Capstones
No abstract provided.
A Taxing Problem, Singapore Management University
A Taxing Problem, Singapore Management University
Perspectives@SMU
MNCs move assets and products across borders. How does one know if they are doing so to avoid paying taxes?
2013 Q3 Market Pulse Report, Craig R. Everett
2013 Q3 Market Pulse Report, Craig R. Everett
Pepperdine Market Pulse Report
The quarterly IBBA and M&A Source Market Pulse Survey was created to gain an accurate understanding of the market conditions for businesses being sold in Main Street (values $0-$2MM) and the lower middle market (values $2MM -$50MM). The national survey was conducted with the intent of providing a valuable resource to business owners and their advisors. The IBBA and M&A Source present the Market Pulse Survey with the support of the Pepperdine Private Capital Markets Project and the Graziado School of Business and Management at Pepperdine University.
Women In The Workforce: An In-Depth Analysis Of Gender Roles And Compensation Inequity In The Modern Workplace, Rebecca L. Ziman
Women In The Workforce: An In-Depth Analysis Of Gender Roles And Compensation Inequity In The Modern Workplace, Rebecca L. Ziman
Honors Theses and Capstones
This paper explores the increase in participation and education of American women in the workforce with a special focus on women in business and accounting roles. The paper then goes on to discuss the wage gap between genders, how to remedy inequality in the workplace, and highlights several reasons why pursing a solution to gender inequality is beneficial for both the employee and the company.
Ethical Implications Of Friendly Takeovers: A Financial Manager’S Story, Barbara Tarasovich
Ethical Implications Of Friendly Takeovers: A Financial Manager’S Story, Barbara Tarasovich
WCBT Faculty Publications
Case study in which Bernadette was heading the corporate acquisitions team. It was important for Bernadette to be certain that there was no unethical behavior on the part of the project and management team responsible for the acquisition and integration of these companies. The pressures to achieve synergies can often result in people problems, cultural value, and ethical differences that impede the smooth integration of companies. For each acquisition, Bernadette needed to ensure that the newly acquired assets were secure. In addition, she had to ensure that the acquired companies were not employing inappropriate accounting practices in order to inflate …
Optimal Ceo Compensation With Search: Theory And Empirical Evidence, Melanie Cao, Rong Wang
Optimal Ceo Compensation With Search: Theory And Empirical Evidence, Melanie Cao, Rong Wang
Research Collection Lee Kong Chian School Of Business
We integrate an agency problem into search theory to study executive compensation in a market equilibrium. A CEO can choose to stay or quit and search after privately observing an idiosyncratic shock to the firm. The market equilibrium endogenizes CEOs’ and firms’ outside options and captures contracting externalities. We show that the optimal pay-to-performance ratio is less than one even when the CEO is risk neutral. Moreover, the equilibrium pay-to-performance sensitivity depends positively on a firm's idiosyncratic risk and negatively on the systematic risk. Our empirical tests using executive compensation data confirm these results.
Should Religious Organizations Worry About Irs Audits?, Sarah J. Webber, Janet S. Greenlee
Should Religious Organizations Worry About Irs Audits?, Sarah J. Webber, Janet S. Greenlee
Accounting Faculty Publications
A great deal of media attention has focused on recent perceived financial abuses of churches and religious organizations. Cases of fraud within religious organizations have fueled the public perception that churches require some form of monitoring to prevent financial abuse. However, the IRS has limited authority to audit religious organizations under section 7611, and the results of such audits are generally unavailable to the public.
Through a Freedom of Information Act request, we obtained the outcomes of all section 7611 IRS audits of religious organizations conducted between 2001 and 2010. We found that although the number of both churches and …
Family Ownership And Ceo Turnovers, Xia Chen, Qiang Cheng, Zhonglan Dai
Family Ownership And Ceo Turnovers, Xia Chen, Qiang Cheng, Zhonglan Dai
Research Collection School Of Accountancy
This paper investigates the impact of the founding family’s presence on CEO turnover decisions. We find that family firms managed by CEOs outside the founding family (i.e., professional CEO family firms) have higher CEO turnover-performance sensitivity than family firms managed by family members (i.e., family CEO firms) or non-family firms. These results are robust to alternative performance measures and CEO turnover definitions. Additional analyses indicate that higher family ownership leads to even higher (lower) turnover-performance sensitivity in professional CEO family firms (family CEO firms). These results indicate that, with regard to CEO turnover decisions, better monitoring of CEOs by family …
A Survey Of Executive Compensation Contracts In China’S Listed Companies, Yubo Li, Fang Lou, Jiwei Wang, Hongqi Yuan
A Survey Of Executive Compensation Contracts In China’S Listed Companies, Yubo Li, Fang Lou, Jiwei Wang, Hongqi Yuan
Research Collection School Of Accountancy
We analyze 228 executive compensation contracts voluntarily disclosed by Chinese listed firms and find that central-government-controlled companies disclose more information in executive compensation contracts than local-government-controlled and non-government-controlled companies. Cash-based payments are the main form of executive compensation, whereas equity-based payments are seldom used by Chinese listed companies. On average, there are no significant differences in the value of basic salaries and performance-based compensation in executive compensation contracts. But, compared with their counterparts in non-government-controlled companies, executives in government-controlled companies are given more incentive compensation. Accounting earnings are typically used in executive compensation contracts, with few firms using stock returns …
Managerial Incentives And Management Forecast Precision, Qiang Cheng, Ting Luo, Heng Yue
Managerial Incentives And Management Forecast Precision, Qiang Cheng, Ting Luo, Heng Yue
Research Collection School Of Accountancy
Managers have great discretion in determining forecast characteristics, but little is known about how managerial incentives affect these characteristics. This paper examines whether managers strategically choose forecast precision for self-serving purposes. Building on the prior finding that the market reaction to vague forecasts is weaker than its reaction to precise forecasts, we find that for management forecasts disclosed before insider sales, more positive (negative) news forecasts are more (less) precise than other management forecasts. The opposite applies to management forecasts disclosed before insider purchases. These results are consistent with managers strategically choosing forecast precision to increase stock prices before insider …
Impact Of Financial Market Development On Holdings Of Us Assets And Equity Carve-Outs And Macroeconomic Activity, Ravigsida Dorcas Compaore
Impact Of Financial Market Development On Holdings Of Us Assets And Equity Carve-Outs And Macroeconomic Activity, Ravigsida Dorcas Compaore
University of New Orleans Theses and Dissertations
The first part of this dissertation examines the impact of financial development on different countries holdings of U.S securities. The difference between the US weight in the global market capitalization and the US weight in developed and developing countries is tested through a panel data analysis. We find that most countries tend to overweight their US debt portfolio which is strongly related to their financial market development. When holdings of US debts and equity are low, financial market development is high; in developing countries, holding less US equity in their portfolio causes country to get better financial development. In developed …
Private Debt Syndicates: Governance, Networks, And Syndicate Structure, William R. Mccumber
Private Debt Syndicates: Governance, Networks, And Syndicate Structure, William R. Mccumber
Graduate Theses and Dissertations
I examine the primary market for syndicated private credit agreements to U.S. firms within the context of contract theory with information asymmetries between contracting parties in a repeated game. Specific governance mechanisms determine a firm's cost of borrowing in syndicated credit agreements. Firms with governance mitigating agency risk between stakeholders, i.e. independent boards, strong shareholder monitoring, and greater CEO pay-performance sensitivity, enjoy lower borrowing costs. The interests of creditors and shareholders diverge with regard to external governance. Lenders charge higher spreads to firms at greater risk of acquisition and reward stronger firms with price concessions when they possess staunch anti-takeover …
Internal Governance And Real Earnings Management, Qiang Cheng, Jimmy Lee, Terry J. Shevlin
Internal Governance And Real Earnings Management, Qiang Cheng, Jimmy Lee, Terry J. Shevlin
Research Collection School Of Accountancy
We examine whether internal governance affects the extent of real earnings management. Internal governance refers to the process through which key subordinate executives provide checks and balances in the organization and affect corporate decisions. Using the number of years to retirement to capture key subordinate executives’ incentives and using their compensation relative to CEO compensation to capture their influence within the firm, we find that the extent of real earnings management decreases with key subordinate executives’ horizon and influence. In cross-sectional analyses, we find that the impact of internal governance is more important for firms with more complex operations where …
Getting Your Accounting Right, Themin Suwardy, Jiwei Wang
Getting Your Accounting Right, Themin Suwardy, Jiwei Wang
Research Collection School Of Accountancy
The book brings together authors from the industry and the academic world to contribute articles on the topic of high quality financial reporting. The objective is to help business directors and accounts preparers to understand the importance of high quality financial reporting to their business and get it right from the start.
The Effect Of Corporate Tax Avoidance On The Cost Of Equity, Beng Wee Goh, Jimmy Lee, Chee Yeow Lim, Terry Shevlin
The Effect Of Corporate Tax Avoidance On The Cost Of Equity, Beng Wee Goh, Jimmy Lee, Chee Yeow Lim, Terry Shevlin
Research Collection School Of Accountancy
While prior studies have examined how investors perceive extreme forms of tax avoidance behavior such as tax sheltering and uncertain tax position (e.g., Hanlon and Slemrod 2009; Wilson 2009; Koester 2011; Hutchens and Rego 2012), there is little evidence on how investors perceive less extreme forms of tax avoidance. This study fills this void by examining the relation between firm’s cost of equity and corporate tax avoidance using three measures that capture less extreme forms of corporate tax avoidance: book-tax differences, permanent book-tax differences, and long-run cash effective tax rates. We find that less aggressive forms of corporate tax avoidance …
Non-Audit Fees, Institutional Monitoring, And Audit Quality, Chee Yeow Lim, David K. Ding, Charlie Charoenwong
Non-Audit Fees, Institutional Monitoring, And Audit Quality, Chee Yeow Lim, David K. Ding, Charlie Charoenwong
Research Collection School Of Accountancy
We posit that the effect of non-audit fees on audit quality is conditional on the extent of institutional monitoring. We suggest that institutional investors have incentives and the ability to monitor financial reporting quality. Because of the reputation concerns and potential litigation exposure, auditors are likely to provide high audit quality, when they also provide non-audit services to clients, particularly when clients are subject to high institutional monitoring. We find evidence that, as non-audit fees increase, audit quality (measured by performance-adjusted discretionary current accruals and earnings-response coefficients) reduces only for clients with low institutional ownership but not for clients with …
Do Firms Hedge Optimally? Evidence From An Exogenous Governance Change, Sterling Zhenrui Huang, Urs Peyer, Benjamin Segal
Do Firms Hedge Optimally? Evidence From An Exogenous Governance Change, Sterling Zhenrui Huang, Urs Peyer, Benjamin Segal
Research Collection School Of Accountancy
We ask whether firms hedge optimally by analyzing the impact the NYSE/NASDAQ listing rule changes have had, which exogenously imposed board composition changes on a subset of firms, on financial risk management. Using new proxies for the extent of financial risk management in non-financial firms we find that treated firms reduce their financial hedging, in a difference-in-difference framework. The reduction is concentrated in firms with higher conflicts of interests, such as a high CEO equity ownership level, which exposes them to more idiosyncratic risk, and a higher occurrence of option backdating. We reject the hypothesis that newly majority-independent boards reduce …
Political Connection And Firm Value, James S. Ang, David K. Ding, Tiong Yang Thong
Political Connection And Firm Value, James S. Ang, David K. Ding, Tiong Yang Thong
Research Collection Lee Kong Chian School Of Business
We study the effect of political connection (PC) on company value in an environment where low PC is due to better institutions and not confounded by favorable social/cultural factors. We find that in Singapore, the only country that fits this description, PC in general adds little to the value of a company. However, in industries that are subject to more stringent government regulations, PC appears to be somewhat important. Robustness checks show that alternative PC variables give rise to similar results, and the addition of control variables do not drastically change the findings. Politically connected firms have higher managerial ownership …
Assessing Revenue Managers' Level Of Trust In Information Systems: An Exploratory Study Of Las Vegas Casino Resorts, Landon Taylor Shores
Assessing Revenue Managers' Level Of Trust In Information Systems: An Exploratory Study Of Las Vegas Casino Resorts, Landon Taylor Shores
UNLV Theses, Dissertations, Professional Papers, and Capstones
This study examined revenue managers' level of trust in their revenue management system (RMS) at Las Vegas casino resorts. The study utilized an e-mail interview to measure revenue managers' attitudes about their RMS's degree of reliability and dependability, the degree to which they trust their RMS's pricing recommendations, and if a revenue manager's level of trust in technology had any effect on their likelihood of trusting their RMS.
The study invited 11 property and corporate revenue managers from Las Vegas casino resorts to participate in an e-mail interview, with nine revenue managers agreeing to participate. The main findings of the …
Work Out Optimum Tax Rates, Benefits For A New Business, Teng Aun Khoo, Clement Tan Kai Guan
Work Out Optimum Tax Rates, Benefits For A New Business, Teng Aun Khoo, Clement Tan Kai Guan
Research Collection School Of Accountancy
No abstract provided.
Women As Leaders In Differing Microfinance Models, Rae M. Randleman
Women As Leaders In Differing Microfinance Models, Rae M. Randleman
Journal of Interdisciplinary Feminist Thought
One of the original microfinance institutions (MFIs) is Grameen Bank in Bangladesh and the founder of the bank is Muhammad Yunus (2007). Yunus (2007) initiated a discourse that stated that microloans granted to women resulted in, among other things, increased female empowerment. Much of the global microfinance industry (MFI) has mimicked Yunus’ focus on women and thus created a global master narrative which stated that the capitalist system of credit provided to marginalized women can alleviate poverty and empower women. Other development organizations contend that by itself microfinance cannot empower women; empowerment also requires long-term efforts to influence change in …
Corporate Culture And Erm, Michelle M. Harner
Corporate Culture And Erm, Michelle M. Harner
Michelle M. Harner
The attitudes and actions of those viewed as leaders within a company (commonly referred to as “tone at the top”) help to define corporate culture and are critical to implementing a successful enterprise risk management (ERM) program. This paper explores the challenges and benefits of creating a risk-aware corporate culture, including the potential legal implications for boards of directors.