Previous studies have tried to make a comparative analysis between the market-oriented system and the mixed governance system on the determinants of stock option awards for managers; however, these studies exhibit some failures that must be overcome. In addition, we note the absence of studies...

This study restates the issue of international portfolio diversification benefits by considering the problem of perfect foresight assumption and constant variancecovariance estimation. Whilst emphasising the role of the asymmetry volatility model in portfolio formation, we also investigate the...

This paper provides new evidence on the impacts of financial constraints, growth opportunities and debt overhang on firm-level investments in 12 Asian countries, Australia and New Zealand over the period 1990–2010. Using Panel Smooth Transition Regression (PSTR) models that overcome the...

This paper intends to analyse the default risk in micro, small and medium enterprises (MSMEs) and its relation to new debt opportunities, debt overhang theory and growth intention. The results confirm that cash flow, capacity and leverage are the major determinants of firms’ default,...

In this study, we analyse the determinants of dividend policies of information technology (IT) firms listed on the Korean stock market and use a logit regression model to examine Korean IT firms' propensity to pay dividends based on the life-cycle hypothesis. The analysis yields several...

This paper examines share price behaviour surrounding share repurchase announcements in the context of information asymmetry and signalling hypothesis. We use event-type analysis to examine abnormal returns around three related repurchase announcements: announcement of the board’s...

The Australian government's extensible business reporting language (XBRL)-derived reporting facility, called Standard Business Reporting (SBR), went 'live' to companies in 2010. Its voluntary take-up by companies has been poor following a promotion that emphasised its technological benefits....

The Australian government's extensible business reporting language (XBRL)-derived reporting facility, called Standard Business Reporting (SBR), went 'live' to companies in 2010. Its voluntary take-up by companies has been poor following a promotion that emphasised its technological benefits....

This paper examines the roles of business group affiliations and whether the size and ownership structure of business groups influence the performance outcomes of diversification among family-controlled firms in Malaysia. It presents evidence that agency-driven and thus performance-diminishing...

Shareholding size is a poor proxy for corporate control. At best it reflects an investor’s wealth relative to other shareholders and, most importantly, the distribution of rights to a company’s worth and the related exposure to risk. Shareholding size does not actually show an...